Pharmacy1: Reverse Brain-Drain in MENA’s Retail Pharmacy Sector
Dale Murphy :
April 2011
As markets and governance evolve in the Middle East-North Africa (MENA) region, new business opportunities are creating a phenomenon of “reverse brain-drain,” whereby regional entrepreneurs educated elsewhere or who have business-acumen learned in another country are returning and adapting innovations to their home environment. A prime example is Dr. Amjad Aryan, a Jordanian pharmacist educated in Boston, who is the founder of Pharmacy1, the fastest-growing pharmacy chain in Jordan. Powered by Aryan’s tenacious leadership, Pharmacy1 demonstrates the creative destruction of disruptive technologies, through which old ways of doing business are transformed. Less competitive firms may lose out, but new value and jobs are created as the economic pie is expanded in an interlinked web of growth. The case of Pharmacy1 demonstrates innovation through adaptation, the interaction of technology and business organizations, and the impact of many small innovations throughout a company’s operations. There are a number of challenges to Pharmacy 1’s expansion plans in the MENA region whether it’s the regulatory challenges, human resources, or the presence of international competitors.
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