Biocon, Tabuk Pharma ink pact to commercialise speciality generic drugs in Middle East
Bengaluru: Biocon Limited has recently announced a partnership with Tabuk Pharmaceutical Manufacturing Company (a fully owned subsidiary of Astra Industrial Group) to commercialise select speciality products in the Middle East.
Under the terms of this agreement, Tabuk Pharmaceuticals will hold the marketing authorization for these products and will be responsible to register, import, and promote them in Saudi Arabia and other Middle East countries. The partnership will pave the way for Biocon's expansion into the MENA region to include Saudi Arabia, UAE, Kuwait, Qatar, Oman and Iraq, in addition to Jordan and Lebanon.
As part of the out-licensing deal with Tabuk, Biocon will develop and manufacture the products, and Tabuk will commercialise them.
Siddharth Mittal, Chief Executive Officer and Managing Director, Biocon Ltd, said, "Our partnership with Tabuk Pharmaceuticals is another significant step as we continue to expand our global presence with our portfolio of high quality, vertically-integrated generic formulations, to address unmet medical needs. We are extremely pleased to collaborate with Tabuk, whose deep expertise will help us build a solid foundation in key Middle East markets.
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