Riyadh - Sharikat Mubasher: South Korea’s Hanmi Pharmaceutical entered into an exclusive licensing agreement with the Saudi leading pharmaceuticals company Tabuk Pharmaceuticals to export its flagship products to the Middle East and North Africa (MENA) region.
In a statement, Hanmi revealed that it will export its innovative new drugs that have already received validation in key markets such as the United States and South Korea.
Through this partnership, the South Korean company aims to gradually expand its product offerings and strengthen its presence in the region over time.
The signing ceremony was attended by Ismail Shehada, CEO of Tabuk Pharmaceutical, Wisam Al Khatib, CBO of Tabuk Pharmaceutical, Ju Hyun Lim, Vice Chairman of Hanmi Pharmaceutical, and representatives from Hanmi Pharmaceuticals Global Headquarters.
The partnership will enable Tabuk Pharmaceutical to obtain local approvals and commence the full-scale commercialization of several innovative and specialized pharmaceutical products developed by Hanmi.
Both companies aspire to introduce cutting-edge treatments across the region and improve healthcare outcomes, leveraging their cutting-edge research and Development capabilities.
CEO Shehada stated that the partnership will enable the company to introduce innovative therapies to the MENA region.
“Our combined expertise will ensure these breakthrough treatments reach healthcare providers and patients, bringing meaningful value to the healthcare system,” Shehada added.
On his part, Hanmi’s Vice Chairman, commented: " This partnership reflects our mutual dedication to addressing significant healthcare challenges and improving patient outcomes. We can create synergy by combining Hanmi's research expertise with Tabuk's strong regional presence. We will do our best to bring meaningful changes to patients' lives in the MENA region."
It is worth mentioning that the initial rollout will focus on urology treatments and anticancer biopharmaceuticals, marking the first wave of products to enter the market.
