Hanmi Pharmaceutical's Newly Developed Drugs to Meet Patients in the Middle East

Hanmi Pharmaceutical's blockbuster drugs are entering the Middle Eastern market through local pharmaceutical companies.

Im Juhyun, Vice Chairman of Hanmi Pharmaceutical Group (left), and Ismail Shehada, CEO of Tabuk Pharmaceuticals, are taking a commemorative photo after the official signing ceremony held on the 8th (local time) at the CPHI 2024, the global pharmaceutical and bio expo.
[Photo by Hanmi Pharmaceutical]

Hanmi Pharmaceutical announced on the 10th that it signed an exclusive license partnership agreement with Saudi Arabian pharmaceutical company Tabuk Pharmaceuticals for the Middle East and North Africa (MENA) region on the 8th (local time) in Milan, Italy, where the global pharmaceutical and biotech exhibition CPHI 2024 is being held. The signing ceremony was attended by Lim Joo-hyun, Vice Chairman of Hanmi Pharmaceutical Group and officials from the Global Headquarters, as well as Ismail Shehadeh, CEO of Tabuk, and Wissam Al Katib, Chief Business Officer (CBO).

Through this partnership, Tabuk plans to obtain local approvals and actively market several innovative specialty drugs developed by Hanmi Pharmaceutical. Products in the urology field and oncology biopharmaceuticals are expected to enter first, and the two companies will sequentially introduce leading treatments to address major medical issues in the MENA region based on cutting-edge research and development (R&D) expertise.

The MENA region is a huge market with a population of approximately 600 million. Among them, Saudi Arabia is considered a market with great growth potential due to its high income level and expanding pharmaceutical market size. Tabuk is recognized as a leading pharmaceutical company in the MENA region, with a strong sales network across 17 countries in the Middle East and North Africa.

Ismail Shehadeh, CEO of Tabuk, said, "We are very pleased to introduce Hanmi Pharmaceutical's representative high value-added products to the MENA region," adding, "Based on the expertise of both companies, we expect to provide more innovative treatments to healthcare professionals and patients, making a meaningful contribution to the healthcare system in the MENA region." Vice Chairman Lim Joo-hyun also said, "This partnership demonstrates the strong commitment of both companies to solve critical medical issues and provide better treatment outcomes for patients," adding, "We expect synergy from combining Hanmi's R&D expertise with Tabuk's strong regional presence, and we will do our best to bring meaningful changes to the lives of patients in the MENA region."

Hanmi Pharmaceutical also explained that it is seeking new business opportunities through CPHI in addition to this agreement. CPHI is the world's largest pharmaceutical and biotech exhibition held annually across major European countries.

This year, more than 62,000 participants from 2,400 companies in 166 countries attended. Hanmi Pharmaceutical set up a solo booth at this event to showcase its self-developed blockbuster products such as Rosuzet for dyslipidemia treatment and Gugutams, a combination drug for benign prostatic hyperplasia and erectile dysfunction, as well as over 30 innovative new drug pipelines in metabolic diseases including obesity, oncology, and rare diseases.