Baker McKenzie hosts healthcare seminar in Dubai
DUBAI, May 13, 2017
Baker McKenzie, a multinational law firm, discuss the trends of managing commercial agency relationships in the healthcare sector in the Middle East and Africa region at a recent seminar in Dubai, UAE.
The seminar also exchanged views on how investments are structured, including the move away from traditional agency agreements and distribution models to direct presence structures, said a statement from Baker McKenzie.
The event was attended by senior representatives from leading market players in the healthcare sector, including pharmaceutical companies and financial institutions, who participated in discussions and shared insights around a range of issues impacting their operations in the MEA region, it added.
The key issues were related to registration and deregistration, parallel imports, pricing and data sharing.
The interactive discussion was moderated by Baker McKenzie Habib Al Mulla's partner Jayshree Gupta and included panelists from the firm’s UAE, Saudi Arabia and South Africa offices.
Zahi Younes, corporate and securities partner at Baker McKenzie's associated firm in Riyadh, Saudi Arabia, said: “Some of the multinational players in the healthcare sector are re-thinking their business models in the Middle East by becoming more engaged in local operations and possibly shifting from a distribution model to a direct presence model.”
“This mindset shift is mainly driven by constant pricing pressures and competition, an increasing desire to control their local operations, and legislative and regulatory changes relaxing foreign investment restrictions,” he said.
"Ultimately, there is no right or wrong way to do business - you simply need to choose the option that best meets your business needs,” he added.
Els Janssens, senior associate at Baker McKenzie Habib Al Mulla in Dubai, UAE, said: “We are certainly seeing more regulations coming into force in the Middle East to keep up with technology, globalisation and the pressures of the new economic reality.”
“Regional governments diversifying their economies are keen to ensure that the framework is there to support the development of this very important sector, with issues such as innovation and digitalisation, competition, counterfeiting and managing healthcare costs at the top of their lists,” he added.- TradeArabia News Service
