Dr Jamal Al Kaabi, undersecretary of the Department of Health – Abu Dhabi, said the new drug would further equip the emirate to protect its population. Photo: Victor Besa / The National
Dr Jamal Al Kaabi, undersecretary of the Department of Health – Abu Dhabi, said the new drug would further equip the emirate to protect its population. Photo: Victor Besa / The National
Dr Jamal Al Kaabi, undersecretary of the Department of Health – Abu Dhabi, said the new drug would further equip the emirate to protect its population. Photo: Victor Besa / The National
Dr Jamal Al Kaabi, undersecretary of the Department of Health – Abu Dhabi, said the new drug would further equip the emirate to protect its population. Photo: Victor Besa / The National

Abu Dhabi acquires new antibody treatment to fight Covid-19


Rory Reynolds
  • English
  • Arabic

A new therapy that helps the body fight off Covid-19 will be available for use in Abu Dhabi following a deal between health authorities and Swiss drug maker Roche.

The monoclonal antibody cocktail of casirivimab and imdevimab - known as Regen-Cov in some markets – has been given to people with Covid-19 who are likely to develop severe symptoms.

“Today, we have taken a significant step towards improving healthcare services in Abu Dhabi," said Dr Jamal Al Kaabi, undersecretary of the Department of Health – Abu Dhabi.

The deal will help efforts to "build a robust life science hub and spearhead the latest advancements for Covid-19 prevention and treatment", he said.

Roche has told US regulators the therapy can also be given to non-patients to protect them from potential coronavirus infection, including people with health conditions and those who are not fully vaccinated.

The US Food and Drug Administration approved Regen-Cov for emergency use in August but stressed it was "not a substitute for vaccination against Covid-19".

The Abu Dhabi and Roche deal will lead to further "real-world evidence generation" and research, authorities said, and is the latest step in helping the capital to build its life science industry.

The agreement further expands the arsenal of treatments that can be given to patients with mild, moderate and severe Covid-19 symptoms.

The anti-viral drug sotrovimab has been given to thousands of patients in the emirate. Early results showed that 97 per cent of recipients fully recovered within 14 days.

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    Indian students apply the finishing touches to paintings created to raise awareness of the variant in Mumbai. Reuters
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    International travellers wearing personal protective equipment arrive at Melbourne's Tullamarine Airport as Australia records its first cases of the Omicron variant. AFP
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    A greeting at the international terminal of Sydney Airport, as countries respond to the new variant. Reuters
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    A sign asking people to wear face coverings in a building in Manhattan as the newly discovered Omicron variant appears in countries around the world. AFP
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    Tourists wave as the ‘Europa’ passenger liner arrives in South African waters off Cape Town as the new coronavirus variant Omicron spreads in other countries. Reuters
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    Schiphol airport in Amsterdam. Dutch health authorities said they have found another case of the Omicron Covid-19 variant among passengers arriving from South Africa, bringing the country’s total to 14. AFP
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    Pupils wear face masks in Beijing. Despite the global worry, scientists say it remains unclear whether the Omicron variant is more dangerous than other strains of the virus. AP
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    People wearing face masks in Manhattan. New York's governor has declared a state of emergency due to the risk of a surge of Covid-19 cases as winter sets in. AFP
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    British Health Secretary Sajid Javid meets a member of staff at a vaccine centre in Guy's and St Thomas' Hospital, London. Getty Images
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    A sign points the way to a Covid-19 test centre at Schiphol Airport in the Netherlands. AFP
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    Narita International Airport in Japan is quiet after travel was restricted to prevent the spread of Omicron. Reuters
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    A PCR test at O.R. Tambo International Airport in Johannesburg. AFP
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    Soekarno Hatta International airport. Indonesia has banned the arrival of travellers who have recently been in eight southern African countries. Reuters
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    Suvarnabhumi Airport in Bangkok after Thailand banned entry from eight southern African countries due to the Omicron variant. Reuters
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    Travellers wear personal protective equipment outside the international terminal at Sydney Airport, Australia. Reuters
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    Passengers wearing protective gear at Incheon International Airport in South Korea, where health authorities have imposed an entry ban on foreign arrivals from eight African countries, including South Africa. EPA
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    Ben Gurion International Airport near Tel Aviv. The Israeli government approved a 14-day ban on foreign arrivals over concerns about Omicron. EPA
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    Travellers queuing in the hope of boarding an overbooked Lufthansa flight at Cape Town International Airport. Antonie Robertson / The National
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    Covid-stricken Czech President Milos Zeman sits in a plastic cage as he appoints Petr Fiala as Prime Minister, near Prague. AFP
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    Tourists checking in at Cape Town International Airport in South Africa. Antonie Robertson / The National
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    Several airlines have stopped flying out of South Africa amid the spread of the new variant, causing disruption at O.R. Tambo International Airport in Johannesburg. Reuters
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    Australian Health Minister Greg Hunt at a press conference at Parliament House in Canberra. Two cases of the recently discovered Omicron variant were detected in New South Wales. EPA
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    Passengers, many not wearing face coverings, on the London Underground. Health Secretary Sajid Javid said mandatory mask-wearing would return to shops and public transport in England but there are concerns over how the rule will be enforced. AFP
  • A stroll, with face masks, in Biarritz, south-western France. French Health Minister Olivier Veran said France had no confirmed cases of the Omicron variant and was not changing its strategy of increasing vaccinations and booster shots. AP
    A stroll, with face masks, in Biarritz, south-western France. French Health Minister Olivier Veran said France had no confirmed cases of the Omicron variant and was not changing its strategy of increasing vaccinations and booster shots. AP
  • British Prime Minister Boris Johnson and Chief Medical Officer Chris Whitty during a press conference on the variant in London. Reuters
    British Prime Minister Boris Johnson and Chief Medical Officer Chris Whitty during a press conference on the variant in London. Reuters

Jump starting the immune system

A study by Roche partner Regeneron said the cocktail cut the risk of getting covid-19 by 82 per cent for up to eight months. It is part of a new generation of therapies that "jump-start" the immune system’s fight against the virus.

Jointly run with the National Institute of Allergy and Infectious Diseases, the study enrolled people who lived in a household with someone diagnosed with Covid within the previous four days.

Earlier results from the trial showed the treatment cut the risk of infection by 81 per cent within the first month, Bloomberg reported earlier this month. The new data shows the protection was maintained, with an 82 per cent reduction in symptomatic infections for as long as eight months after the therapy was administered.

During the study, none of the people in the treatment group were admitted to hospital due to Covid, compared with six people in the placebo group. No deaths stemming from Covid infection occurred in either group.

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Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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2006: Didier Drogba (Chelsea and Ivory Coast)
2007: Frederic Kanoute (Sevilla and Mali)
2008: Emmanuel Adebayor (Arsenal and Togo)
2009: Didier Drogba (Chelsea and Ivory Coast)
2010: Samuel Eto’o (Inter Milan and Cameroon)
2011: Yaya Toure (Manchester City and Ivory Coast)
2012: Yaya Toure (Manchester City and Ivory Coast)
2013: Yaya Toure (Manchester City and Ivory Coast)
2014: Yaya Toure (Manchester City and Ivory Coast)
2015: Pierre-Emerick Aubameyang (Borussia Dortmund and Gabon)
2016: Riyad Mahrez (Leicester City and Algeria)

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Updated: November 29, 2021, 6:25 AM