UAE drug market's liberalization

The United Arab Emirates' drug manufacturing sector is likely to be a major beneficiary if the Middle Eastern country allows foreign majority  ownership of businesses. The proposed law change is under deliberation  and would lead to a massive rise in the health care market, from $3.2  billion in 2005 to an estimated $11.9 billion in 2015, with a 14% annual  rate of growth for the next five years, according to the Dubai Chamber  of Commerce.

Currently, only firms operating in government-run free trade zones, such  as DuBiotech, are allowed more than 49% foreign ownership. Local  producers account for 45% of domestic drug consumption but 90% of their  products are exported.