< PreviousArabian Business recently caught up with the AstraZeneca team at the World Expo 2020 in Dubai, where the pharmaceutical company convened a global summit to help shift the trajectory for cancer diagnosis, treatment and cure Global summit seeks to accelerate action on cancer By Saadiya Ahmad 20 Vol. 22/04, April 2022 BRAND VIEW / ASTRAZENECA u The Oncology Summit brought together the global cancer community to drive reforms and innovation for the benefi t of patients around the world (All images courtesy of AstraZeneca/Trevor Brown)REIMAGINING CANCER CARE It is Friday March 11 at the Swedish Pavilion of the Expo 2020 Dubai. The experts, advocates and decision-makers gathered are imagining a future where the cancer patient’s experience is transformed even before any treatment begins, where we’ll be able to detect many types of cancer from a simple blood test, and where diagnostic tests can predict who is at high risk of recurrence, allowing physicians to proactively tailor medical interventions and avoid progression, sometimes even before cancer strikes. The Oncology Summit has brought together the global cancer community to drive reforms and innovation for the benefit of patients around the world. “We are looking at ways to keep driving forward progress in cancer care,” reveals David Fredrickson. Executive Vice President, Oncology Business Unit, AstraZeneca. Early detection and fi ghting cancer from every angle There is no doubt that urgent progress on cancer is sorely needed. Cancer remains one of the leading causes of death, accounting for 1 in 6 deaths worldwide. It is projected there will be 28.4 million new cases of cancer each year by 2040. The best chance at turning a fatal condition into a treatable one is often when the cancer is diagnosed early. This can also help to limit the level of invasive surgeries and hospital care which can often result from a late-stage diagnosis, ultimately reducing not only the financial burden of care but also the pressure on health systems. For example, someone diagnosed with Stage IV lung cancer has a 15 to 19 percent chance of being alive after one year, compared to 81 to 85 percent if diagnosed at Stage I. “Now, more than ever, we must advocate for earlier detection and diagnosis, and better treatment and care for people living with cancer, to create a sustainable and resilient future for healthcare systems and cancer services,” says Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca. By targeting treatment to patients most likely to benefit alongside developing effective combinations that target different mechanisms driving cancer, AstraZeneca aspires to increase the proportion of patients who can achieve long-term survival and ultimately, even a cure. “We aim to achieve this by identifying and treating patients earlier in their disease when the chance for cure is higher,” she says Tackling the cancer burden in Arab countries Across the Arab world, the number of people diagnosed with cancer is set to almost double by 2030, according to the World Health Organisation (WHO). “Many of these countries have a simultaneously growing and ageing population, both of which account for an increase in cancer cases,” reveals Pelin Incesu, Area Vice President, Middle East and Africa, AstraZeneca. It also does not help that rates of smoking and obesity, both major risk factors for cancer, are high in some of these countries. But despite these figures, there are practical actions that can be taken across the pathway of cancer screening, early detection and treatment to stay ahead of the disease and reduce its burden on people and health systems down the line. The earlier the cancers are identified, the better the chance there is to manage their progression and improve overall survival rates. For example, the most common cancer in the Arab world is breast cancer in which the five-year survival rate after diagnosis jumps from just 27 percent for those diagnosed with late-stage disease to 99 percent for those diagnosed at the earliest stage. For colorectal cancer, patients whose cancer is detected via colonoscopy are at a 67 percent reduced risk of death from their disease. This type of screening has already been deployed on a population- level in the UAE, Qatar, Bahrain, Kuwait and Saudi Arabia, but more countries need to follow suit. After patients are identified, precision medicine – an approach to treatment that takes into account an individual patient’s characteristics and genes – can transform treatment and save lives. According to its advocates, precision medicine gives clinicians tools to better understand the complex biological and environmental mechanisms underlying a disease and to predict which treatments will be most effective; thereby maximising health benefits for patients and reducing the overall cost of care. “But this can only happen at-scale if health systems are equipped with the required technologies,” says Incesu, warning that the inconsistent adoption of precision medicine has the potential to widen inequality among patients. In short, the change must be at the systems level to be impactful, she contends. “We must advocate for earlier detection and diagnosis, and better treatment and care for people living with cancer” arabianbusiness.com 21 u David Fredrickson (above left), Executive Vice-President, Oncology Business Unit, AstraZeneca; Nadine Hani moderating a session during the summit / ASTRAZENECA“Health systems must integrate early diagnosis and precision medicine into clinical guidelines if they are to transform what a cancer diagnosis will mean for people affected by cancer, no matter who they are or where they live,” says Incesu. Access to diagnosis and treatment in LMICs Inequitable access to diagnosis and treatment is not just a Middle Eastern problem. The grim reality is that from cancer diagnosis to treatment and care, lower-middle-income economies (LMICs) lag far behind global averages. Out of almost 10 million cancer deaths each year, approximately 70 percent are in LMICs. Comprehensive cancer treatment is available in more than 90 percent of high-income countries, but less than 15 percent of LMICs. If early detection and early treatment of cancer can reduce the burden on hospitals, create more resilient healthcare systems and improve equitable access to treatments and care, this is even more critical in settings where health systems are over-stretched. For example, lung cancer is a global healthcare challenge – with 1.8 million deaths in 2020 – and is the leading cause of cancer death worldwide. The average five-year survival rate globally sits at 10 to 20 percent, but in LMICs, the numbers are far less encouraging. In India, only 3.7 percent of patients with lung cancer will still be alive five years after their diagnosis. The breast cancer survival rate in North America is 84 percent, while in LMICs it is between 40 to 60 percent. Moreover, survival rates for prostate, 28.4 million The projected number of new cases of cancer in 2040 liver, ovarian and cervical cancers also reflect imbalances in LMICs. The power of collaboration Despite the lung cancer imbalance in LMICs, AstraZeneca is fostering the power of collaboration through an alliance with the International Association for the Study of Lung Cancer (IASLC), Guardant Health and the Global Lung Cancer Coalition (GLCC) in the Lung Ambition Alliance (LAA) which has a primary goal to double five-year survival for patients with lung cancer by 2025. Another cutting-edge collaboration is with leading artificial intelligence (AI) solution provider Qure.ai to detect lung cancer earlier by applying algorithms to interpret radiology images. This equitable and affordable approach is already active in more than 30 countries and has screened more than 250,000 individuals through AI based X-ray scans, a novel alternative to the gold standard CT scans, which are not broadly available in many LMICs. AstraZeneca is also working to combat the lack of prostate-specific antigen (PSA) testing for prostate cancer in LMICs and launched Project ICON in 2021 to support access to timely screening and diagnosis for the deadliest men’s cancer. u Professor Humaid Al Shamsi (left), Director of Oncology Services at VPS Healthcare and Dr Gilberto Lopes (middle), from the University of Miami u Ashish Koshy (left), CEO of G42 Healthcare with Fredrickson 22 Vol. 22/04, April 2022 BRAND VIEW / ASTRAZENECAThe Covid-19 pandemic enabled collaborative perspectives Undoubtedly, the Covid-19 pandemic transformed the global healthcare industry. But more specifically in the case of cancer, Covid-19 led to many disruptions in research and delivery of cancer care, for example, temporary closures of research labs and delayed screenings. Despite this, Fredrickson sees a silver lining and notes that, “it also created opportunities to foster new collaborations and reimagine the way things are done.” One example is in the United Kingdom, where the National Health Service NHS England appointed a number of private hospitals across the country to make sure cancer patients could still access life-saving surgery and treatment during the pandemic. At a crossroads of cancer care, he adds: “One route exacerbates the setbacks we have experienced during the pandemic, and the other embraces the opportunities of public-private partnerships to optimise care seeking to change what it means to receive a cancer diagnosis.” He explains that through partnership and innovation, we can stop one health crisis from fuelling another and optimise care for people living with cancer. A global coalition: The launch of ACT for cancer care With all this emphasis on collaboration and partnership, it’s no wonder AstraZeneca has chosen the Cancer Summit to launch a new global coalition to transform the way people are being diagnosed and treated for better patient outcomes and more robust healthcare systems. Accelerating Change Together (ACT) for Cancer Care seeks to advocate for greater investment in screening and diagnostic tools. “By working with health system changemakers, research pioneers and health innovators, the coalition will advocate for expanded access to screening programmes and help to recognise and remove barriers to innovative medicines around the world,” says Fredrickson. “One day we hope to eliminate cancer as a cause of death, and we believe that through collaborations like ACT for Cancer Care, we can aspire to one day make that a reality.” Abu Dhabi-based company joins the global ACT for cancer care coalition Closer to home, ACT is also aligned with a sustainable model of cancer care in the UAE, evident in the recent partnership undertaken with G42 Healthcare, an Abu Dhabi-based company. Dr Fahad Al Marzooqi, Chief Operating Officer, G42 Healthcare says, “G42 Healthcare is proud to be part of the Accelerating Change Together (ACT) for Cancer Care, a global coalition that supports early intervention, timely diagnosis and personalised care. With high incidence of cancer in the region, there is an urgent need for precision medicine to improve outcomes for all people living with and affected by the disease. “At G42 Healthcare, we are working towards oncology precision therapies and look forward to such robust partnerships that help build sustainable healthcare solutions.” 84% The breast cancer survival rate in North America u Dr Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca joined the summit virtually from Cambridge, UK Early red fl ags of breast cancer According to WHO, breast cancer is the most common cancer in Arab and Islamic countries, accounting for nearly 50 percent of all cancers in women. Visit your doctor if you notice any of the following: A new lump or area of thickened tissue in either breast that was not there before. A change in the size or shape of one or both breasts. Discharge of fl uid from either of your nipples. A lump or swelling in either of your armpits. A lump in your breast or underarm that doesn’t get smaller or go away, often the first symptom of breast cancer. Swelling in your armpit or near your collarbone which may indicate the breast cancer has spread to lymph nodes in that area. Any unusual swelling which may start before you feel a lump, so immediately inform your doctor if you notice it. Although lumps don’t usually hurt, there may be pain and tenderness or even a strange prickly feeling. www.nhs.uk arabianbusiness.com 23 / ASTRAZENECACan you Share with us the vision behind the acquisition of Creme 21? Emami witnessed changes in global trade paradigms in the recent times that led us to unveil new emerging markets and introducing channels for global expansion. We treaded beyond our comfort zone to be fearless and take larger strides whilst aligned to our corporate goals. FMCG major Emami is expanding at speeds never seen before. Director Prashant Goenka talks about the company’s successful acquisition of the iconic German brand Creme21 and its global aspirations Acquiring global footprints loyal Arab and Asian consumer base, this mix was a growth driver. The acquisition was in line with the company’s strategy for pursuing growth through the inorganic route. Importantly, it was my longstanding pledge to champion inclusion and diversity and adapt to international culture. We learnt, strived and thrived working with the passionate German team while acquiring Creme21. At Emami, we focused on synergising the best practices in distribution, marketing and supply chain to bring in quicker growth. The teams invested energies in harmonizing advanced German R&D with the sharp strategic capabilities of Emami R&D. I believe it’s always the small wins that pave the path to big wins. It is not every day that we have an Indian FMCG acquire iconic German or international brands. Since then, it has been a moment of orange glory. At the time of the acquisition, majority of the brand’s business was contributed by the MENA region. Which are the newer geographies where Creme 21 has been launched and what were the challenges faced? Emami has been conducting business in the MENA region for the past 15-plus years. From a small store in Deira’s hustling market, our brands are now market leaders in the men’s skincare, pain management category, Cooling Hair Oil, considered as India’s number one hairfall expert. We have a loyal Asian consumer base who form the growing expat population in MENA. Thus, to accelerate our reach into Arab households, all our acquisition efforts focused on international brands with higher equity amongst the Arab consumers. In order to capture significant synergies, we’ve consolidated our Emami and Creme21 businesses in many countries. This brought in efficiencies, strengthened distribution and steady availability. We invested in brand building and new launches thereby reaching out to new consumers and farther geographies. Since its acquisition, we have relaunched Creme21 in the Middle East and The race to acquire Creme21 was not easy with many multinational suitors vying to have the privilege to adopt Creme21 into their global portfolio. And why if you ask, Creme21 is an iconic German bright orange colored brand with a high equity in the skincare industry. It has been wooing consumers on the shelf for 50 years. With Creme21’s strength in a strong future pipeline and 24 Vol. 23/04, April 2022 SPOTLIGHT / EMAMIintroduced the brand in India, USA, South East Asia. Whilst there are accolades, it is sure to have been built upon challenges which one masters to slay during the journey. The curvilinear relationship between industry similarity and post- acquisition performance was attenuated by the pandemic. Now, we are advancing the entire consumer business with modern integrated approaches around channel and consumers. Creme 21 skincare products are known to be cruelty free without paraben, silicon and micro-plastics. Is there a growing consumer awareness and does this affect your business? Indeed, consumers are not just aware about clean beauty and skincare products; it is a table-stake. Consumers are advocating the removal of harsh chemicals and recommending environment conscious brands. The knowledge sharing, online, around clean products has been astounding. I must add, researches we conducted emphasised consumers are evolved and prudent. They are very well aware about harsh ingredients to be eliminated which is good for the skin and for brands which have an intent towards good for us and our planet. Creme21 has simply answered these consumer calls by revamping our product range thereby emphasising safer, cruelty free, banned ingredient free products that meet the clean green beauty standards. Interestingly, at Emami, we are on an endeavour to launch and invest in new, modern-age business, natural and herbal brands which embrace the motto: “Good for me and good for us”. Among Emami’s overall international sales, the Middle East, North Africa and Pakistan (MENAP) region is signifi cant. Tell us about your global distribution strength in modern trade. Emami has presence in around 60 countries across the globe. MENAP has been the fulcrum of international growth. Unlike India, where we have mastered the perfect mix of both direct and indirect distribution; we have set our strategies clear to partner with the best distributor in each country internationally. Our distributors and teams help in selecting and ensuring availability in all leading modern trade chains. We are constantly monitoring and learning purchase trends, identifying timely actionable insights which is helping us. We have been investing in forecasting category evolution to quantify the impact of our sales and adapt our inventory to consumer behaviour. This healthy mix of stitching external and internal measures is allowing us to bring in efficiencies and ploughing back our earnings on our partners and loyal consumers. Walk us through the challenges that Emami faced during the pandemic and how did your leadership help the international business overcome the obstacles. Logistical delays, families hit hard emotionally and economically led to a time which no one had fathomed. We are an organisation who are constantly innovating and challenging the status quo. Thankfully, the world is moving on a positive note with greater acceptance and spirit. In the words of Emami founders RS Agarwal and RS Goenka: “The disruption is temporary; the resilience is enduring”; thus we expanded our focus and investments in alternatives to traditional M&A, including stakes, joint ventures, partnerships, and corporate venture capital. We initiated Project WoW (War on Waste) to moderate costs with the help of a global management consultancy. To enhance sustainability and logistics efficiency, Emami optimised routes, reducing its carbon footprint. I came across a beautiful line which I keep reminding myself daily: “Don’t limit your challenges. Challenge your limits. We must embrace constant and never ending improvement”. $50bn The size of the GCC region’s retail market by 2025, according to Dubai Chamber “Companies must strategise to create an armada of brands having individual purposes yet aligned to their corporate goals, this helps manifesting larger growth” arabianbusiness.com 25 / EMAMI u Emami relaunched Creme21 in the region and introduced the brand in India, USA and South East AsiaINDIAN POWER LIST 2022 India has been a strategic ally of Saudi Arabia and the UAE, among other countries in the GCC and the MENA region, for decades. With the growing focus on trade, investments and infrastructure in 2022, cross-border relationships have been brought back into the limelight as Indians continue to play a crucial role in the region’s post-pandemic economic recovery. While Saudi Arabia remains India’s second-largest oil supplier and the UAE remains the sub-continent’s second-largest trading partner, India’s partnership with the Middle East economies have spread across the energy, retail, healthcare, construction, education, logistics, banking, hospitality, industrial, and jewellery sectors, among others. Trade volumes between India and the UAE have grown from $180m in the 1970s to $60bn in 2019, and are projected to reach the $100bn mark by 2030. The Comprehensive Economic Partnership Agreement (CEPA) signed between India and the UAE in the first quarter of 2022 is another testament to growing bilateral non-oil trade that aligns with the region’s diversification strategies. Forming a vital part of the region’s expatriate community, Indians have left an indelible mark on their respective industries in the Middle East, while remaining an invaluable part of the Middle East multicultural community. Here, we highlight some of the region’s most prolific businesspeople, detailing their contributions to the region. Many of them have revealed a positive outlook for the months ahead, while sharing their insights on the trends and challenges across key sectors in the MENA region. RECOGNISING BUSINESS VETERANS AND ICONS WHO HAVE RAISED BENCHMARKS ACROSS KEY INDUSTRIES IN THE MIDDLE EASTq LuLu Financial Holdings witnessed robust growth in 2021-22, riding high on the investments made on digital payment solutions” A serial entrepreneur with an eye on the future, Adeeb Ahamed has been success- fully steering the progress of LuLu Financial Holdings over the past 13 years. An astute businessman in the financial services sector, Ahamed is on a mission to realise the true meaning of financial inclusion for people from all walks of life. Under his dynamic leader- ship, LuLu Financial Holdings has come to oversee varied investments across 11 countries, with a digital-first approach to transforming the modern cross-border payments landscape. Ahamed is also the owner of several iconic hotels around the world, including the Great Scotland Yard in London, Waldorf Astoria in Edinburgh, Pullman Downtown Dubai, Shera- ton Oman and Port Muziris Kochi. These hotels are owned under his hospitality investment company, Twenty14 Holdings. Ahamed’s busi- ness acumen hasn’t gone unnoticed, and he today holds positions on the senior advisory board of the South Asia Regional Strategy Group (RSG) at the World Economic Forum (WEF), as well as the World Tourism Forum Lucerne and the Al Maryah Community Bank in the UAE. Ahamed’s commitment to social projects is also visible in his many phil- anthropic activities, mostly geared towards women empowerment, girls’ education, and geriatric support. He also supports the parents of young children needing medical emergencies and has contributed to building schools and shelter homes for the underprivileged. When asked on how the business has performed in 2021-22, he says: “LuLu Financial Holdings witnessed robust growth in 2021-22, riding high on the investments made on digital payment solutions. Our network of branches has grown to nearly 245, and Singapore was added as the newest country of operations. Overall, we processed inward and outward remit- tances worth over $11bn, and achieved a record turn-around-time in processing of transactions to key corridors to less than 15 seconds. Some of our other allied services such as banknotes business also saw significant growth this year. “We are quite upbeat about 2022. In the UAE, Expo 2020 Dubai has boosted the local economy and helped revive tourism to a large extent. The job sector is seeing a fast revival, and with employment opportunities abounding, the year looks encouraging. In other countries across GCC and the sub-continent too, we are seeing a gradual recovery. The APAC region is quite dependent on travel and tourism, and pace of recovery there will depend on how fast the economies open up completely,” Ahamed adds. 245+ The number of branches LuLu Financial Holdings operates across the Middle East, Indian sub-continent and APAC regions ADEEB AHAMED Managing director LULU FINANCIAL HOLDINGS BANKING AND FINANCE INDIAN POWER LIST 2022 28 Vol. 22/04, April 2022A leading authority in Islamic banking and finance, Dr Adnan Chilwan is widely seen as a driver of change and innova- tion and a key figure in the progression of Islamic Finance which is quickly evolving into a global phenomenon. He has been hailed by stakeholders around the world as a key spokesperson spearheading the progression, development and growing acceptance of Islamic finance across the world. With an extensive banking career spanning over two decades with both reputed conventional and Islamic banks in the region, Chilwan currently serves as the Group CEO of Dubai Islamic Bank, the world’s first Sharia- compliant player and the largest Islamic bank in the UAE. Driving the globalisation of Islamic fi nance Renowned as a visionary and driven by an unwavering belief in his convic- tions, Chilwan has made it his personal and professional goal to establish Islamic banking and finance as a global norm rather than being considered as an alternative. Chilwan leads an organisation which is fast being recognised as a formi- dable force in Islamic finance and one of the most progressive institutions in the world today, with assets in excess of $80bn and a market capitalisation of over $9bn. DIB boasts a workforce of more than 10,000 employees across a network of branches in the UAE as well as growing international operations in Asia, Middle East and Africa. The UAE has set out plans to levy a 9 percent corporate tax from June 2023. The tax won’t apply on personal income from employment, real estate and other investments, and incentives for free zones will continue. The new tax regime is “welcome,” Chilwan said in an interview on Bloomberg TV. The levy won’t lead to a slowdown in the economy as it is still more competitive than some regional neighbours and global tax standards, he said. “The UAE continues to be a very, very attractive market,” Chilwan said. ADNAN CHILWAN Group CEO DUBAI ISLAMIC BANK BANKING AND FINANCE q Going forward, we will be operating with a renewed sense of purpose and mission to help make fi nancial solutions simple, convenient and accessible for all” $80bn The total assets handled by Dubai Islamic Bank (DIB) arabianbusiness.com 29 2022 INDIAN POWER LISTNext >