Biocon ties up with Tabuk Pharmaceuticals to commercialize speciality medicines in Middle East
Biotechnology company Biocon announced on Tuesday that it has signed a deal with Tabuk Pharmaceutical Manufacturing Company of Saudi Arabia to commercialize select specialty products in the Middle East.Tabuk Pharmaceutical Manufacturing Company is a wholly owned subsidiary of Astra Industrial Group, a significant pharmaceutical conglomerate in the Middle East and North Africa (MENA).
Tabuk Pharmaceuticals will have the marketing authorization for select Biocon specialty medicines and will be responsible for registering, importing, and advertising them in Saudi Arabia and other Middle Eastern countries, according to the conditions of the deal.Biocon will develop and manufacture the products as part of the out-licensing agreement with Tabuk, and Tabuk will commercialize them, according to a statement from the biotechnology business.
“Our cooperation with Tabuk Pharmaceuticals is another critical step forward as we continue to grow our global presence with our portfolio of high-quality, vertically-integrated generic formulations to meet unmet medical needs,” said Siddharth Mittal, Biocon’s CEO and MD.According to the announcement, the cooperation will open the way for Biocon’s growth into the MENA area, which will encompass Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman, and Iraq, as well as Jordan and Lebanon.
“As part of our role and mission at Tabuk Pharmaceuticals to deliver unique health solutions and improve the well-being of people in Saudi Arabia and the countries we operate in, our partnership with Biocon, a distinguished and renowned company, comes in as an obvious choice to further support our mission in line with Saudi Vision 2030, regarding localizing specialty and value-added pharmaceutical products,” said Astra Industrial Group President Mohammed Alhagbani.
Tabuk Pharmaceuticals develops, manufactures, promotes, and sells a variety of branded generics, as well as producing pharmaceutical goods for worldwide partners at its Saudi Arabian production facilities. The company currently operates in 17 Middle Eastern and African nations.
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