Middle East airspace disruptions risk delaying critical medicines
Disruptions to Middle East airspace are forcing pharmaceutical companies to reroute cargo flights carrying temperature-sensitive medicines, raising concerns about delays to shipments of treatments, including cancer drugs.
Airlines are diverting aircraft around closed corridors over Iran and parts of the Gulf, adding hours to delivery times and complicating cold-chain logistics, Reuters reports.
Industry executives say longer routes increase the risk of temperature fluctuations that can damage sensitive biologic medicines.
Companies are now shifting shipments through alternative hubs in Europe and Asia while monitoring supply risks if the conflict persists.
Mubadala Bio aims to build UAE’s influence in pharma industry
Mubadala is consolidating its pharmaceutical interests into a new investment unit aimed at making the Abu Dhabi sovereign wealth fund a stronger player in the international health care market.
Mubadala Bio will focus on drugmaking, biopharma development and distribution logistics, operating at 10 locations in Asia, Africa and Europe, with its base in the UAE, the company said in a statement issued today.
Dr. Bakheet Al Katheeri, CEO of Mubadala’s UAE Investments Platform, said the new unit will “elevate Abu Dhabi’s role in delivering impactful health solutions on a global scale.”
Serving more than 100 countries, Mubadala Bio said its cumulative manufacturing capacity will exceed 2.5 billion pills and capsules, enabling its portfolio companies to make more than 10,000 products.
ADIA ramps up investments in India as UAE leverages ties
From energy, infrastructure and pharmaceuticals to iconic snack brands and baby products, the Abu Dhabi Investment Authority has been pumping funds into India over the past six months.
Across five deals with Indian businesses, the sovereign wealth fund invested $1 billion during the first half of 2024 as the UAE pushes to increase non-oil bilateral trade with its second-largest trading partner.
India is becoming a magnet for sovereign investment amid growing geopolitical and economic uncertainty elsewhere.
Last month UAE Minister of Economy Abdullah bin Touq led a trade delegation of Emirati business leaders and government officials to the world’s most populous nation.
It followed reciprocal visits by UAE President Sheikh Mohamed bin Zayed and Indian Prime Minister Narendra Modi.
ADIA has been able to leverage relationships with India’s biggest conglomerates, including Mukesh Ambani’s Reliance Industries and Gautam Adani’s Adani Group, to grow its presence.
The fund has been named among likely investors, alongside Abu Dhabi’s International Holding Co., in an upcoming $1 billion stock offering for Adani Energy.
Among the non-oil deals under pursuit, ADIA is a part of a consortium led by Blackstone which is attempting to acquire a majority stake in snack giant Haldiram in a deal worth $4.8 billion. If successful, the purchase is likely to be the largest private equity buyout in India to date.
The fund is also being sounded out by the Indian government to buy its stake in Vodafone Idea.
