Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- New pharmaceutical deal to boost local production  Join our daily free Newsletter

MENAFN - Arab News - 01/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Boehringer ingelheim a leading pharmaceutical company has entered into a tripartite agreement for local production in saudi arabia with cigalah and tabouk.

this came from boehringer ingelheim's interest in expanding in saudi arabia with innovative medicines.

tabuk the pharmaceutical manufacturing company as a local manufacturing leader who wants to strengthen its products and services offering to saudi patients and cigala as a major health care distribution player with strong local infrastructure — along with boehringer ingelheim all have decided to combine scientific knowhow technical expertise and local infrastructure to serve the saudi patients.

with this contract cigalah and tabuk will manage and drive complex secondary packaging projects of 26 products for boehringer ingelheim from the starting point until full implementation to become finished goods.

this is the first milestone toward boehringer ingelheim's future local primary manufacturing in the kingdom.

with boehringer ingelheim's investment interest to expand in saudi arabia and partnering with local manufacturing units the company will be able to offer more innovative medicines for saudi patients helping them to improve health and quality of life.

in addition the partnership aims to seed job opportunities and act as a business driver where boehringer ingelheim contributes to the development of the overall pharmaceutical sector.

the company has established its full end-to-end capabilities in saudi arabia and will continue to increase its own local investments in the pharmaceutical space as well as local talent in order to drive socio-economic development; creating value for individuals and society as a whole.

the contract between the companies was signed by dr. abdul aziz al-serafi ceo consultant of cigalah group dr. hamad al-khamees general manager saudi arabia tabuk and mohammed al-tawil general manager boehringer ingelheim middle east and near east area.

the local production in saudi arabia satisfies only 15 percent of the demand and imports account for 85 percent of the domestic market.

the locally-grown companies primarily make generic drugs while some also undertake under-license manufacturing and packaging on behalf of multinational pharmaceutical companies for supply in the domestic and regional markets.

th agreement will help to establish new capabilities and capacities and a more effective supply chain to support boehringer ingelheim's ambitious business plan and expansion in saudi arabia.

as the health care expenditure is forecasted to grow from 3.5 percent in 2010 to 6 percent of gdp by 2020 this partnership marks a significant step toward meeting the demand for quality medicines in the region while strengthening the infrastructure to locally provide therapies at par with the international standards.

mohammed al-tawil general manager boehringer ingelheim middle east and near east area said: 'we are delighted to enter into an agreement with cigalah group and tabuk.


 


Arab News




  MENA News Headlines
 Sep 16 2014 - Kuwait Stock Exchange Indices Close in GreenQatar News Agency
(MENAFN - QNA) Main indexes of the Kuwaiti bourse were in the green zone upon closing Tuesday with the weighted, the price, and the KSX 15 up by 1.1, 28.6, and 2.64 points respectively. Number ...

 Sep 16 2014 - Diplomatic Adviser to the King of Belgium Meets Qatar's AmbassadorQatar News Agency
(MENAFN - QNA) Diplomatic Adviser to the king of Belgium Pierre Cartuyvels met HE Qatar's Ambassador to the Kingdom of Belgium, Sheikh Ali bin Jassim Al-Thani. During the meeting, they discussed ...

 Sep 16 2014 - Real Estate Transactions Worth over QR684 Million Last WeekQatar News Agency
(MENAFN - QNA) Real estate transactions between September 7 and 11 for the real estate sales contracts registered at the Ministry of justice are worth QR684,139,324, the real estate registration ...

 Sep 16 2014 - Qatar University to Host Workshop for Young BoffinsQatar News Agency
(MENAFN - QNA) Qatar University's Al Bairaq programme will engage aspiring young scientists from high schools in workshops on nanotechnology and other scientific topics, the university said ...

 Sep 16 2014 - Qatar Expresses Concern over Expansion of Nuclear Power Reactors EstablishmentQatar News Agency
(MENAFN - QNA) The State of Qatar has stressed that the obsession with safety and security of potential nuclear accidents preoccupies the international community because of the long -term and ...

 Sep 16 2014 - Four Elements of Islamic State Killed in IraqQatar News Agency
(MENAFN - QNA) Baghdad Operations Command announced the killing of four elements from the Islamic State group (ISIS) northwest of Baghdad. The spokesman for the command, Brigadier Saad Maan told ...

 Sep 16 2014 - Elements of Islamic State Killed in IraqQatar News Agency
(MENAFN - QNA) Baghdad Operations Command announced the killing of four elements from the Islamic State group (ISIS) northwest of Baghdad. The spokesman for the command, Brigadier Saad Maan told ...

 Sep 16 2014 - Phase one to begin Dubai USD2.7b Parks projectMENAFN
(MENAFN) Dubai Parks & Resorts, a Meraas Holding company announced it has made significant progress on phase one of its multi-billion dollar entertainment and leisure destination in the emirate, ...

 Sep 16 2014 - Investcorp acquire USD250m US property propertiesMENAFN
(MENAFN) Bahrain's Investcorp, an alternative investment manager, announced it had acquired a portfolio of office and industrial property assets in three cities in the United States for around USD250 ...

 Sep 16 2014 - Dubai's RTA to invest USD544m in 2 projectsMENAFN
(MENAFN) Dubai's RTA announced it is planning to invest in the construction of two new road projects in the Creek area of the city in order to ease traffic congestion, Arabian Business reported.The ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help