Biocon and Tabuk Pharmaceuticals Forge Alliance to Address Diabetes in MENA

Biocon Ltd has entered a licensing and supply agreement with Tabuk Pharmaceutical Manufacturing Company to market GLP-1 products for diabetes and chronic weight management in the Middle East. The deal includes provisions for product development, manufacturing, and potential localised production, spearheading Biocon’s entry into the region.

Biocon Ltd announced on Thursday a landmark licensing and supply deal with Tabuk Pharmaceutical Manufacturing Company, aiming to commercialize GLP-1 products for diabetes and chronic weight management in select Middle Eastern nations.

Under the terms, Biocon will handle the development and manufacture of these products. Tabuk Pharmaceuticals, a fully-owned branch of Astra Industrial Group, will secure marketing authorisation, register, import, and promote these treatments within the region, according to Biocon's regulatory filing.

The agreement also outlines potential expansion to other GLP products and includes a tech transfer provision for possible localized manufacturing.

Speaking about the agreement, Biocon CEO Siddharth Mittal stated, "This partnership with Tabuk Pharmaceuticals validates our focused strategy on GLPs and Peptides as our future growth avenues."

In parallel, Tabuk Pharmaceuticals CEO Ismail Shehadah remarked, "This collaboration boosts our mission to deliver unique health solutions in Saudi Arabia and beyond, reinforcing our market-leading stance on diabetes medication."

(With inputs from agencies.)