Biocon, one of most prominent Indian pharmaceutical companies focused on developing its own drugs and formulations, kicked off its expansion into the Middle East market with an out-licensing deal with Saudi Arabia-based Tabuk Pharmaceutical Manufacturing Co.
Biocon did not list the products that are covered by the licensing deal, but said it would cover “select speciality products”. Under the deal, Biocon will develop and manufacture the products, and Tabuk will be in charge of getting the approvals, marketing and distribution.
“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. This is another important milestone for Biocon, reflecting its commitment to providing patients around the globe with affordable medications, by establishing a strong global portfolio of products, either directly, or through strategic partnerships,” the Indian company said.
Tabuk Pharmaceutical Manufacturing Company is a major Saudi pharmaceutical company with presence in the Middle East and North Africa.
It develops, manufactures, markets and distributes branded generics, in addition to manufacturing pharmaceutical products for international brands at its manufacturing sites in Tabuk and Dammam in Saudi Arabia.
The company has a team of more than 2,400 employees and sells its products in 17 countries in the Middle East and Africa.
Biocon focuses on chronic conditions like diabetes, cancer and autoimmune diseases.
It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets, as well as generic formulations in the US and Europe. It is also working on immunotherapy products.