Tabuk Pharmaceutical Manufacturing Company (a fully owned subsidiary of Astra Industrial Group), a leading Saudi pharmaceutical company and Jiangsu Hansoh Pharmaceutical Group Co., Ltd. a leading Chinese innovation driven pharmaceutical company, announced an agreement to commercialize several oncology & specialty products in Saudi Arabia and other Middle East markets.
Under the terms of this agreement, Tabuk Pharmaceuticals will have exclusive rights to hold the marketing authorization for these products and will be responsible to register, import, and promote medications in Saudi Arabia and Middle East countries.
“As part of our role and mission in Tabuk to deliver unique health solutions and preserve lives for the people of Saudi Arabia and countries we operate in especially during the current pandemic, our partnership with Hansoh comes in as an evident choice to further support our mission in line with Saudi vision 2030 regarding localization of oncology & specialty medicine” said Mohammed Al Hagbani, President of Astra Industrial Group.
“We are extremely excited to partner with one of the largest pharmaceutical entities in China to further expand in oncology and specialty products domain in the MENA and ensure the availability of essential and lifesaving products for patients in the region. We believe Hansoh’s extensive experience in clinical and product development in these therapeutic classes make them an ideal partner to cooperate with and support Tabuk’s growth aspirations”, said Wisam Alkhatib Vice President of Strategy and Business Development of Tabuk Pharmaceuticals.
“This agreement widens the sales territories of Hansoh's products in the Middle East and North Africa market, which is an important step for Hansoh to approach the globalization. Besides, this agreement also brings the opportunity to receive treatment with oncology & specialty drugs to the local patients. We believe that the collaboration between Hansoh and Tabuk will enable to launch the product in the territories at first time, and the two parties will complement each other's strengths and fulfill the established sales expectations.” said by Mr. Suzuki Wong, General manager of International Business Division of Hansoh.
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About Tabuk Pharmaceuticals
Tabuk Pharmaceutical Manufacturing Company is a leading Saudi pharmaceutical company with a regional presence in the Middle East and North Africa. Tabuk Pharmaceuticals develops, manufactures, markets and distributes various branded generics, in addition to manufacturing pharmaceutical products for renowned international partners at its manufacturing sites in Saudi Arabia, as part of its continuous efforts to cover the needs of patients by providing high quality medicines. Tabuk Pharmaceuticals is a major player in the pharmaceutical sector not only in the Kingdom of Saudi Arabia, but also in the Middle East and North Africa, thanks to its four state-of-art manufacturing sites located in Tabuk and Dammam in the Kingdom, as well as in Sudan and Algeria, and orchestrated by a team of more than 2,400 employees. Tabuk pharmaceuticals reaches patients in 17 countries in the Middle East and Africa, in addition to futuristic plans to expand its presence in the region.
About Hansoh Pharma
Hansoh Pharma was founded in 1995 as a leading innovation-driven pharmaceutical company in China. With its corporate mission of " create excellence in pharmaceuticals, enhance innovation in China", the company is committed to improving human health, focusing on the treatment of major diseases in areas including anti-tumor, central nervous system, anti-infection, and diabetes through continuous innovations. Thus far, it has independently developed and launched 5 new national Class I drugs, with over 100 drugs in the developmental phase and over 20 innovative drugs in the clinical phase, which together form a diverse portfolio of product lines. The company has been honored in the top 30 of the Top 100 Chinese Pharmaceutical Companies and the top three in the China Top Industrial Enterprises for Pharmaceutical R&D Product Lines for several years in a row. It is currently classified as a national-level key high-tech enterprise and technological innovation demonstration enterprise. In June 2019, the company was listed on the Hong Kong Stock Exchange (stock code: HK.03692).
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