Abu Dhabi – Mubasher: The 2020 edition of CPhI Middle East & Africa 2020 has been cancelled and the event is set to debut in Riyadh on 24 to 25 March 2021, the organiser of the pharmaceuticals event announced on Tuesday.
This year’s edition was scheduled to take place in Abu Dhabi next September but was cancelled due to the coronavirus (COVID-19) pandemic, according to a press release by Informa.
The CPhI Middle East & Africa’s brand manager, Sherma Ellis, revealed that it was extremely difficult to ensure the health and safety of all employees, partners, exhibitors, and visitors, as well as preparing and delivering an organised gathering under the prevailing circumstances.
"As the second-largest pharma market in the region and the 18th largest economy in the world, there is a myriad of business opportunities for our partners and exhibitors to unlock in Saudi Arabia and we look forward to the opportunities this burgeoning market offers," Ellis added.
Over recent years, various healthcare reforms have taken place in Saudi Arabia to enhance and incentivise pharma manufacturers. For example, foreign direct investment (FDI) into the sector was increased by 100%, and the total local pharmaceutical production is boosted to rise by 20% by the end of 2020.
Additionally, e-visas were launched to make the country more accessible, and there have been opportunities for business expansion as the kingdom relies on imported pharmaceuticals.
By 2023, MENA pharmaceutical sales are expected to leap by more than 24%, reaching $44.1 billion from $35.5 billion in 2019, largely backed by a rise in the region’s chronic diseases, particularly cancer, diabetes, and cardiovascular diseases, according to Fitch Solutions’ Q1 2020 MENA Pharmaceutical & Healthcare report.
CPhI Middle East & Africa is pharma’s regional exhibition for innovation, networking, and business. It is the only pharma event in the region that covers pharma manufacturing, bringing together nearly 4,000 key pharma suppliers and buyers and connecting local, regional, and international professionals from across the entire pharma supply chain.