(MENAFNEditorial)
Jeddah, Kingdom of Saudi Arabia-July, 2012
MSD, one of the world's healthcare leaders, a subsidiary of Merck & Co Inc., Whitehouse Station NJ, and Sobol Medical Trading Co. Ltd. (Sobol), the leading Bio-Pharmaceuticals company in the Kingdom of Saudi Arabia (KSA), today executed a long-term exclusive agreement to distribute GARDASIL[Human Papillomavirus Quadrivalent (Types 6, 11, 16, and 18) Vaccine, Recombinant], ROTATEQ® (Rotavirus Vaccine, Live, Oral, Pentavalent), PNEUMOVAX® 23 (Pneumococcal Vaccine Polyvalent) and other MSD vaccines in the Kingdom of Saudi Arabia (KSA).
As part of this arrangement, Sobol will be responsible for distribution and promotion of these products within the KSA upon receiving certain regulatory approvals from the Saudi Food and Drug Authority and Ministry of Commerce and Industry of Saudi Arabia.
The agreement also includes, upon the achievement of specific milestones, a technologies transfer from MSD to Sobol for GARDASIL, ROTATEQ and PNEUMOVAX 23 which will grant rights to Sobol to manufacture certain steps of these vaccines locally.
"Sobol is committed to advancing the health and wellbeing of the people of the Kingdom of Saudi Arabia," said HRH Prince Majid bin Abdullah bin Abdulaziz, chairman, Sobol. "Our goal is to increase access to medicines and vaccines and for this, we believe that MSD is the best strategic partner. We share not only common values and standards of quality and ethics but also the desire to support talent, advance drug development and deliver the best solutions for our country and our patients."
A stable, transparent, and predictable healthcare environment supports the Kingdom's global competitiveness in the innovative medicines sector, and encourages foreign investment to strengthen local manufacturing capabilities through the transfer of know-how to Sobol, a local Saudi manufacturer.
"This collaboration is an exciting opportunity to meet the unmet medical needs of the communities in which we operate and to bring MSD's vaccines to more people who need them," said Soren Bo Christiansen, president, Eastern Europe, Middle East and Africa (EEMEA), MSD.
"Our collaboration with a highly respected partner such as Sobol will help expand our presence in Saudi Arabia and to provide access to MSD's leading pharmaceutical innovations to physicians, healthcare providers and patients there. Our novel vaccines are well suited to address the needs of the people in the Kingdom of Saudi Arabia, which is making impressive investments to improve the health and welfare of its citizens. We are thrilled to be working with Sobol and look forward to a long partnership together."
Commenting on the agreement, Dr. Nizar Khogeer, Partner and Executive President, Sobol, stated: "This agreement is timely and consistent with our company's growth strategy and will be a big step forward in positioning Sobol as an international leader in biopharmaceuticals. Our mission is to be an active partner in consolidating all partners in the biotechnology sector in the Kingdom of Saudi Arabia to achieve economical and social development. We are proud to be part of our country's initiative."
A market access enabling partnership
Under the terms of the agreement, MSD will first provide supply of GARDASIL, ROTATEQ and PNEUMOVAX 23 to Sobol for exclusive marketing and distribution in KSA. Upon the achievement of certain milestones as outlined in the agreement, MSD will then transfer necessary knowledge and know-how to enable Sobol to manufacture certain steps of these vaccines.
"We believe that working with Sobol and the government of Saudi Arabia, MSD can help make a difference in shaping public policies and incentives that will lead to new business opportunities and opportunities in research and development," said Dr. Wail Al-Qasim, General Manager, MSD in Saudi Arabia.
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