Bahrain to set up $93m insulin plant
Manama, June 7, 2012
Bahrain is to set up an insulin production plant at a cost of BD35 million ($93 million) in line with its strategy to supply lifesaving products to people with diabetes across the Gulf region.
The Gulf Biotic facility will be constructed over a 16,000-sq m area at the Salman Industrial City and is likely to be up and running within two years.
The venture, which will become part of Bahraini company Innovest, is also expected to create hundreds of jobs.
"The main investor and chairman of the Gulf Biotic is Saudi Prince Sultan bin Fahad bin Abdulaziz Al Saud," said Innovest chief executive officer Dr Khalid Abdulla.
He said the plant would manufacture insulin vials and cartridges, which will be supplied and distributed by a German company.
"This is a big investment for Bahrain and the insulin plant is expected to manufacture 26m units annually," he said.
"The focus of the supply will be in the six GCC states as increasing number of population in these countries are suffering from diabetes."
Dr Abdulla said all the products produced would comply with US Food and Drug Administration and European Medicines Agency.
"The plant will employ about 100 Bahrainis in professional jobs," he stated.
Construction work on the new facility will start soon and is expected to be completed in two years.-TradeArabia News Service