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FINANCIAL NEWS
Tabuk Pharmaceuticals to sign commercial deal with Pfizer
01 Jul 2014
(MENAFN) Tabuk Pharmaceuticals, one of the leading pharmaceutical companies in the Middle East and North Africa region (MENA), has signed a commercial agreement with Pfizer, the US-based global industry leader, Saudi Gazette reported.
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 the 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.
The 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.
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