Ajman Bank has entered into a strategic financing agreement with LIFEPharma, the pharmaceutical manufacturing arm of VPS Health, on the sidelines of Make it in the Emirates, at the IHC Pavilion. The agreement boosts the UAE’s push to scale local pharmaceutical manufacturing and strengthen domestic production capabilities.
Industry sources added that under this agreement, LIFEPharma will boost its expansion roadmap, with targeted investments in advanced manufacturing, product development, and technology adoption, reflecting the role of national financial institutions in enabling high-impact industrial growth.
Commenting on the agreement, Kashif Raza, Head of Wholesale Banking at Ajman Bank, stated:“This agreement reflects Ajman Bank’s focus on enabling sectors that are central to sustainable growth and long-term resilience across the UAE. Advanced pharmaceutical manufacturing is a national priority, and through this partnership, we are contributing to a high-value industrial ecosystem that strengthens the UAE’s healthcare capabilities and supports its long-term economic objectives.”
Madhukar Tanna, CEO, LIFEPharma, stated: “This agreement comes at a defining moment for local manufacturing in the UAE. As the country accelerates its focus on localization and advanced industry, collaborations like these provide the foundation for scaling capabilities, adopting new technologies, and expanding access to critical therapies. Our focus remains on building a future-ready pharmaceutical platform that can serve both national and regional needs.”
Industry sources further confirmed that LIFEPharma will expand into complex therapies, including injectables and specialized formulations, alongside the acquisition and integration of intellectual property to accelerate innovation-led production. These investments support the UAE’s ambition to enhance self-sufficiency, reduce import dependency, and strengthen its position as a regional hub for advanced pharmaceutical manufacturing.
Industry sources further confirmed that this agreement comes amid strong momentum under the Make it in the Emirates initiative, which endures to drive investments in priority sectors and enable long-term industrial transformation. LIFEPharma’s expansion plans are closely aligned with this vision, focusing on capability building, innovation, and sustainable growth.
The partnership also establishes a framework for continued engagement, with the potential to support future capacity creation and expansion initiatives as LIFEPharma scales its operations. This reflects a long-term approach to enabling industrial growth through strategic financial partnerships.
Industry sources affirmed that this agreement signing further complements LIFEPharma’s broader growth trajectory, coming on the heels of its AED 700 million pharmaceutical manufacturing plant at KEZAD.
