KARACHI: Two Pakistani companies in the pharmaceutical and digitization sectors announced on Thursday they had obtained licenses from UAE authorities, allowing them to expand their regional footprint and maintain presence in the Middle East market.
The Searle Company Limited, based in Karachi and primarily involved in pharmaceutical and consumer product manufacturing, notified the Pakistan Stock Exchange (PSX) that the Ministry of Health and Prevention in the UAE had approved its request to register its manufacturing site.
“Searle is expanding rapidly in several regions of the world including South Asia, Southeast Asia, Africa and Francophone Africa, Gulf Cooperation Council, Commonwealth of Independent States, Canada, Europe and Latin America,” stated the company’s stock filing.
Tahir Ahmed, the managing director, proudly announced on social media that his organization had become the first Pakistani pharmaceutical company to enter the UAE as part of its global outreach plan.
Under its health ministry registration, Searle will be equipped to conduct laboratory testing, packaging, storage, and product release in the UAE.
Syed Nadeem Ahmed, the company’s CEO, explained to Arab News that Searle’s UAE registration would facilitate product exports throughout the region.
“The license which was important has been obtained and now the product dossiers are being sent,” he informed. “The distributor has also been appointed and business will start soon.”
Ahmed noted that the company already had a presence in Oman and was actively exporting to the GCC region.
The other company, Octopus Digital, a subsidiary of AVANCEON, also informed the PSX it had obtained a license as a Free Zone Limited Liability Company under the Dubai Development Authority to operate from Internet City.
Octopus Digital offers digitalization services to manufacturing, supply chain, and financial businesses in different regions of the world.
“The UAE’s thriving business environment and strategic location makes it an ideal hub for Octopus Digital FZ-LLC to further enhance its global presence and deliver unparalleled value to its customers,” the company said in note to the stock market authorities.
Muhammad Adnan, the group corporate executive, told Arab News that AVANCEON, which held 75 percent of Octopus Digital’s shares, had a presence in Saudi Arabia, the UAE, and Qatar.
However, he added it was a significant business move for his company to be incorporated in Dubai.
The organization stated in its PSX notice it wanted to establish a subsidiary in the UAE to project its core values of innovation, customer-centricity, and global expansion further.
“By expanding its presence in this vibrant market, Octopus Digital aims to better serve the needs of its customers in the region and strengthen its position as a leading player in Industry 4.0 solutions,” the notice read.
