Biocon Partners with Tabuk Pharmaceuticals to Launch GLP-1 Products in the Middle East

26 Sep 2024 , 08:27 PM

Biocon Ltd. announced a licensing and supply agreement with Tabuk Pharmaceutical Manufacturing Company on September 26, 2024.

The partnership focuses on commercializing GLP-1 (glucagon-like peptide-1) products for diabetes treatment and chronic weight management in the Middle East. Tabuk Pharmaceuticals will market Biocon’s GLP-1 products in selected Middle Eastern countries.

Biocon is responsible for the development and manufacturing of the products, while Tabuk will handle marketing authorization, registration, and promotion. The agreement includes provisions for expanding to additional GLP products and potential technology transfer for localized manufacturing in the future.

Siddharth Mittal, CEO of Biocon, emphasized the significance of this partnership for entering the Saudi Arabian market with complex GLP-1 formulations.

Ismail Shehadah, CEO of Tabuk Pharmaceuticals, expressed enthusiasm for the collaboration, aiming to enhance health solutions and solidify their market position in diabetes medications.

This partnership aligns with both companies’ strategies to address the growing demand for effective diabetes treatments in the region.