Tabuk Pharmaceuticals enters into a partnership with Pfizer in the Kingdom of Saudi Arabia

June 29, 2014 - PRLog -- Tabuk Pharmaceuticals enters into a partnership
with Pfizer in the Kingdom of Saudi Arabia

Saudi-based drug manufacturer, Tabuk Pharmaceuticals, will partner with Pfizer to jointly develop both companies’ presence in KSA through a commercial partnership

Jeddah, KSA, 24 June, 2014 – Tabuk Pharmaceuticals, one of the leading pharmaceutical companies in the Middle East and North Africa region (MENA) region, 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.

Commenting on the agreement, Dr. Hamad Al Khamees, said, “We are delighted to have entered into this partnership with a company of Pfizer’s caliber, and look forward to executing it for the benefit of the Saudi patients and the entire medical community. Being in a position to move forward with this project is a demonstration of Pfizer’s business acumen, and Tabuk Pharmaceuticals’ product development and manufacturing capabilities. We feel excited at the prospect of further collaboration initiatives with Pfizer, and proud to add another modest contribution to the development of the local pharmaceuticals industry in the Kingdom.”

Hussein El Hakim, Global Established Pharma Lead &Country Manager, Pfizer Saudi Arabia said, “This venture is a result of successfully identifying mutual synergy with Tabuk Pharmaceuticals; a best-in-class regional company; which will result in improving patients’ accessibility to the medications they need and deliver enhanced therapeutic choices to the clinicians who care for them. This agreement will allow Pfizer to leverage its new legal entity for the early realization of its future projects in Saudi Arabia and continue to actively contribute as a key player in the development of the Saudi healthcare system.”

In October 2011, Pfizer established a legal entity in Saudi Arabia and signed an agreement with Emaar, under the auspices of the Saudi Arabian General Investment Authority (SAGIA) to set up its first ever manufacturing plant throughout the GCC at King Abdullah Economic City, Saudi Arabia.