Ajman Bank backs Lifepharma expansion

Ajman Bank has signed a strategic financing agreement with LIFEPharma, giving fresh momentum to the UAE’s drive to build a stronger domestic pharmaceutical manufacturing base and reduce dependence on imported medicines.

The agreement was signed on the sidelines of Make it in the Emirates at the IHC Pavilion, linking national banking support with one of the country’s priority industrial sectors. LIFEPharma, the pharmaceutical manufacturing arm of VPS Health, will use the partnership to advance an expansion roadmap covering advanced manufacturing, product development, technology adoption and complex therapies.

Financial details of the agreement were not disclosed, but the deal comes as LIFEPharma prepares a broader Dh700 million pharmaceutical manufacturing platform at Khalifa Economic Zones Abu Dhabi. The proposed project is designed to expand local production of critical medicines, including specialised formulations, advanced injectables, oncology treatments and vaccine-related capabilities.

The financing arrangement places Ajman Bank within a wider industrial push led by Make it in the Emirates, which has become a major platform for attracting investment into manufacturing, technology, healthcare, food security and advanced industry. For the banking sector, the agreement signals a shift beyond conventional corporate lending towards targeted financing for strategic national priorities.

Kashif Raza, Head of Wholesale Banking at Ajman Bank, said the agreement reflects the bank’s focus on sectors central to sustainable growth and long-term resilience across the UAE. He described advanced pharmaceutical manufacturing as a national priority and said the partnership would contribute to a higher-value industrial ecosystem that strengthens healthcare capabilities and supports economic objectives.

LIFEPharma’s expansion plans include movement into complex therapies, injectables and specialised formulations, as well as the acquisition and integration of intellectual property to accelerate innovation-led production. The company says the investment programme is intended to support greater self-sufficiency, improve supply resilience and strengthen the UAE’s role as a regional hub for advanced pharmaceutical manufacturing.

Madhukar Tanna, Chief Executive Officer of LIFEPharma, said the agreement comes at a defining moment for local manufacturing as the country accelerates its focus on localisation and advanced industry. He said collaborations of this nature provide the foundation for scaling capabilities, adopting new technologies and expanding access to critical therapies for national and regional needs.

The financing pact follows LIFEPharma’s agreement with AD Ports Group to develop the proposed Dh700 million manufacturing platform at KEZAD. That project is expected to contribute about Dh2 billion to gross domestic product over its lifecycle and create more than 1,000 skilled jobs, including roles for UAE nationals. The planned facility is also expected to benefit from KEZAD’s industrial land, infrastructure, utilities access and logistics connectivity.

LIFEPharma has positioned itself as a key player in the UAE’s pharmaceutical ambitions, with operations linked to regulated export markets and advanced manufacturing standards. Its expansion into oncology, vaccines, biologics, peptides and other complex products would mark a step up from conventional generic production into higher-value segments where regulatory compliance, technical capability and capital intensity are major barriers to entry.

The UAE pharmaceutical market has long depended on imported medicines, particularly for specialised treatments and high-value therapies. Supply chain disruptions during global health emergencies and geopolitical tensions have pushed governments across the Gulf to reassess medicine security, stockpiling strategies and domestic production capacity. Local manufacturing is now viewed not only as an industrial opportunity but also as a healthcare resilience measure.

Regulatory reform has become central to that effort. The Emirates Drug Establishment has been working to streamline registration and licensing pathways, support national manufacturers and use digital solutions to improve transparency and speed to market. Its participation at Make it in the Emirates highlights the growing alignment between regulators, manufacturers, banks and industrial zones.

Competition in the sector is also intensifying. Established manufacturers such as Julphar, newer specialised producers, distribution groups and multinational pharmaceutical companies are all adjusting their UAE strategies as demand grows for local production, faster approvals and more secure supply chains. The push is consistent with Operation 300bn, the national industrial strategy aimed at raising the industrial sector’s contribution to the economy.