Biocon links with Tabuk to commercialize generics in Middle East
India’s largest biotech firm Biocon (BSE: 532523) has entered into a partnership with Tabuk Pharmaceutical Manufacturing (a fully-owned subsidiary of Astra Industrial Group), a leading pharmaceutical company in the Middle East and North Africa (MENA), to commercialize 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. Neither financial elements or products of the collaboration were revealed.
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.
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