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'PABME effect' grips Dubai: Delegates cancel flights to close deals |
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5/1/2008 2:13:40 PM |
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Several international companies participating at the Pharmaceutical and Biotechnology Middle East exhibition (PABME) have been postponing flights to their home countries to accommodate the volume of business appointments garnered.
Delegates have had to arrange meetings in Dubai over the coming days to close an unprecedented number of deals. Organisers are calling it the PABME effect.
'I was booked to fly to Mumbai tomorrow, but I've had to postpone my flight back until the third of May,' said Ravi Thakur, International Marketing Manager for India based Fabtec. 'I've lined up meetings for the next two to three days. It's been very positive. Every exhibition I go to we receive around thirty percent interest from visitors. At PABME it's been about ^65%. The future's bright,' he added.
Jamie Jamshidi, the CEO and President of US based PQC Consulting Inc. was delighted with the outcome of her participation in the event.
'We've received a lot of positive feedback. We have around twenty possible clients. That's the highest we've seen anywhere we've exhibited, and we've been to ones all over the world,' she said. 'We're now looking around. We're going to see DuBiotech, explore the town and see what's available. This could become a hub for us,' she added.
With the region's pharmaceutical industry already worth an estimated $12bn a year, interest in PABME has been unprecedented, and business has proved lucrative for participants.
Misbahul Jabbar, the Regional Manager for Sweden's Pharmera Group revealed his company had signed multi-million dollar contracts. Jabbar was also representing the Hungarian firm, Ominvest which also closed deals at PABME.
'It's been excellent. We've won contracts from across the Middle East and North Africa, and we have three confirmed contracts worth $3.5m. That's just the start,' he said.
'It's the first time we've exhibited in the UAE and we're definitely looking forward to 2009,' he added.
The organizers are now expecting a huge surge in interest for PABME 2009 after the success of this year's event.
'The pharmaceutical and biotechnology sectors are growing at such an incredible rate in the region, we're not surprised by the number of deals being done,' said Simon Page, Group Director of Life Science Division at IIR Middle East. 'But, obviously the PABME effect is a phenomenon we want to see next year. It's something that's good for the industry and good for Dubai,' he concluded. |
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Source: Ameinfo.com |
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