- Acquisition marks significant milestone for region’s healthcare industry and rare disease sector
- Genpharm provides fast-track market access to rare disease and specialty pharmaceutical companies looking to expand across Middle East, North Africa, Turkey and beyond. Headquartered in the UAE, with scientific offices around the region, Genpharm employs over 80 Associates.
- Established in 2020, Abdul Latif Jameel Health was founded to address prevailing inequities in accessing contemporary medical services. Its primary objective is to expedite healthcare inclusion throughout the Global South.
Dubai, UAE; January 30, 2024: Abdul Latif Jameel Health, part of Abdul Latif Jameel, a nearly 80-year old internationally diversified business, today announced its strategic acquisition of a majority stake in Genpharm, the leading partner for rare diseases with market access across the Middle East, North Africa and Turkey.
The agreement marks a significant milestone for both businesses as they work together in putting patients first, driving healthcare inclusivity and accelerating access to modern medical care for those who need it most.
Recently marking its 12-year anniversary, Genpharm was founded in 2012, with a steadfast commitment to evidence-based medicine and upholding the highest ethical standards. It proudly stands as one of the pioneering regional companies first to introduce expertise in gene therapy to the region. Genpharm is also the preferred commercial partner for a wide range of rare genetic disease, orphan drugs, and specialty therapeutics. Managed by seasoned senior pharmaceutical industry executives with extensive experience of the region and multinational organizations, Genpharm also provides its partners with strategic advice on disease areas, product launches and go-to-market strategies.
Co-founders Karim Smaira, Chief Executive Officer, and Kamel Ghammachi, Chief Commercial Officer, said in a joint statement: “When we established Genpharm in 2012, we did so with the purpose to create a legacy and something we were proud of sharing with our children. With our significant joint global pharma experience, we knew there was a major gap in meeting rare disease patients’ needs across the Middle East.
“Our values – Always put patients first, be passionate about what we do, and deliver on our promises – are entirely aligned with Abdul Latif Jameel Health’s mission to accelerate access to modern medical care.
Joining an organization with the backing of Abdul Latif Jameel, one of the region’s most internationally respected businesses, means we can do more, reach more, and help more, while also ensuring the development and progression of our employees, who work incredibly hard to underline their commitment to bringing cures to MENA patients. We’re looking forward to working with Abdul Latif Jameel Health to achieve together and continue to strengthen our legacy.”
Akram Bouchenaki, Chief Executive Officer, Abdul Latif Jameel Health added: “We are incredibly impressed with the work Genpharm has achieved in this important sector of the region’s healthcare industry. In the last decade, Karim and Kamel have led their team to focus on delivering niche therapeutics for rare diseases as well as becoming pioneers in the delivery of gene therapy which has seen innovative cures and treatments to patients in the region. It is this innovation and drive which attracts us to Genpharm and aligns with our mission to utilize technology and innovative approaches to accelerate access to medical care for those who need it most.”
The Abdul Latif Jameel Health strategic acquisition of Genpharm, will retain the existing executive structure with Karim Smaira and Kamel Ghammachi continuing in their respective roles as CEO and Chairman. Additionally, Akram Bouchenaki will be transitioning into a new role within the Genpharm Board of Directors, further strengthening the company’s strategic governance.
Abdul Latif Jameel Health was created in 2020 as a response to the ongoing global disparity in access to modern medical care, focusing on accelerating access to modern medical care and driving healthcare inclusion across the Global South. Reflecting the Jameel Family’s long-established commitment to innovating for a better future, Abdul Latif Jameel Health works in the commercial environment to address tangible real-world needs today, for a more beautiful tomorrow. It works with partners from around the world to open and grow new markets for distribution of existing solutions and investing in the future of MedTech.
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About Abdul Latif Jameel Health
Backed by Abdul Latif Jameel, one of the most respected diversified businesses and investors eight decades of heritage, deep roots, and established networks alongside a multi-sector presence in 34 countries across six continents, Abdul Latif Jameel Health is uniquely positioned as a trusted partner in realizing major innovations and opportunities in the healthcare world.
For further information, visit: https://aljhealth.com and our brand video here.
Media Contact: Email media@alj.ae or call: +971 4 448 0906 (GMT +4 hours UAE)
About Genpharm
Genpharm provides fast-track market access to rare disease and specialty pharmaceutical companies looking to expand into the Middle East and North Africa (MENA region) and Turkey. It is the regional leader in rare diseases and the first regional company to introduce gene therapy expertise into the region. Incorporated since 2012, a financially sound and privately owned company, Genpharm is based in the Dubai Science Park (DSP), UAE. It also has an office in Boston, USA, in the heart of the biotech hub and in The Republic of Ireland. Operating through evidence-based medicine and with the highest ethical standards, Genpharm provides its partners with fast and sustainable market access solutions across the region.
Genpharm employs highly qualified and experienced MSLs and KAMs. It offers regulatory, medical, PV and logistical support. Armed with knowledge of the local business culture and the vast network of trusted partners, Genpharm’s expertise allows it to create market opportunities for innovative healthcare products and services. Current partners include, Argenx, Amicus, Apellis, Orchard Therapeutics, LEO, Sarepta, PTC, Ultragenyx, Rhythm, Pharming, Quoin and others.
For more info on the Middle East Pharmaceutical market and Genpharm business model and services, visit genpharmservices.com
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