Riyadh - Sharikat Mubasher: Avalon Pharma, one of the fast-growing pharmaceutical companies in Saudi Arabia, plans to tap into new global markets and increase total exports from 10% to 30% by 2030, the company announced in a statement.

As part of the strategy, the company will continue to introduce its health and prescription medicine expertise across the GCC and other markets by partnering with distributors specific to each market.

Ahmad Al Tabbaa, Chairman of the Board at Avalon Pharma, stated that the company will triple its exports by re-establishing its focus across key markets in the GCC.

He added: “To further our aims in the region, we will also open a regional office in Dubai staffed by a team dedicated to our international ambitions.”

Avalon’s international expansion plan targets emerging markets, such as Libya, Sudan, Uganda, and Egypt with an additional focus on exploring markets in North Africa and East Asia.

For his part, Mohamed Al Ghannam, Managing Director and CEO of Avalon Pharma, commented: “We have made numerous strides in the UAE which have furthered our growth aims. We will also establish a country manager in Kuwait to help service Kuwait and Bahrain.”

Avalon distributes to more than 15 countries and their expansion plan objective has two different route-to-market (RTM) approaches.