TABUK PHARMACEUTICALS ENTERS INTO A PARTNERSHIP WITH Pfizer IN THE KINGDOM OF SAUDI ARABIA
Tabuk Pharmaceuticals has signed a commercial agreement with Pfizer, the US-based global industry leader. The venture leverages the respective companies’ market leading presence in the Kingdom of Saudi Arabia, to deliver increased value to patients in the Cardiovascular, Central Nervous System, Anti-infective and Respiratory therapeutic areas.
Under this agreement, Pfizer will grant Tabuk exclusive rights to carry out manufacturing processes under license, commercialize and distribute second brand versions of four Pfizer products in the Kingdom of Saudi Arabia. In addition, Tabuk Pharmaceuticals will give Pfizer, rights to twelve high-value generic products in Saudi Arabia. Both companies will seek the relevant authorities’ approvals for registration, production and commercialization.
This project is aligned with one of Tabuk Pharmaceuticals’ main strategic objective: to expand its offering of innovative medicines in Saudi Arabia, by strengthening its position in its domestic market through partnerships with multinational companies. In so doing, Tabuk Pharmaceuticals continues to deliver on its mission to help improve the lives of patients, while contributing to the development of KSA’s local pharmaceutical industry and manufacturing expertise.
The initiative is also consistent with Pfizer’s vision of “working together for a healthier world”. Pfizer, in line with its strategic commitment to contribute to the Saudi pharmaceutical industry, carefully selected high quality medicinal products to add to its already diverse portfolio in Saudi Arabia. Pfizer intends to leverage its global and local capabilities to bring the value of these products to its Saudi patients and further strengthen its focus in the Saudi market.
The agreement between the companies is endorsed by Dr. Hamad Al Khamees, Senior Executive Vice-President KSA Tabuk Pharmaceuticals, and Guy Lallemand, Head of Global Established Pharma, Pfizer Africa Middle East.