Biocon partners with Tabuk Pharmaceuticals
Source: IRIS | 07 Dec, 2021, 01.38PM
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 Biocon, a leading biotechnology company, on December 07, announced a partnership with Tabuk Pharmaceutical Manufacturing Company (a fully owned subsidiary of Astra Industrial Group), a leading pharmaceutical company in the Middle East and North Africa (MENA), 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. 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.
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 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."
Shares of the company gained Rs 4.80, or 1.34%, to trade at Rs 364.05. The total volume of shares traded was 30, 650 at the BSE (12.12 p.m, Tuesday).
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