HIGH WYCOMBE, England, April 4, 2016 /PRNewswire/ --
Sales in Middle East to Grow Significantly in Next Two Years
Martindale Pharma, the UK-based leading international specialty pharmaceutical company, today announced that it is expanding its international footprint in Saudi Arabia by signing a new distribution agreement with its long standing partner Faisal Musaed El Seif Saudi Pharmaceutical Co, one of the leading healthcare distributors in the country. This agreement forms part of Martindale Pharma's strategy to expand its international business and will actively support further growth of its Emergency Care and Hospital-initiated Medicines product range in the country.
In addition, Martindale Pharma has received marketing authorisations for six products in Saudi Arabia and has been awarded multiple products on the SGH 38 tender for supply to Ministry of Health Hospitals in Saudi Arabia and hospitals in UAE, Kuwait, Bahrain, Qatar and Oman.
Michael Harris, CEO of Martindale Pharma, said: "We are delighted to extend our strategic relationship with Faisal Musaed El Seif Saudi Pharmaceutical Co to make our portfolio of Emergency Care and Hospital-initiated Medicines available to healthcare providers in this growing market for pharmaceuticals. This extended and deepened relationship coupled with national marketing authorisations for some of our Emergency Care products, will help drive sales in this key market."
"Saudi Arabia is now our largest International market and we continue to see a strong opportunity for growth in this region, particularly in the area of analgesic and cardiovascular drugs. We are committed to working with Faisal Musaed El Seif Saudi Pharmaceutical Co and our other partners in this region to continue to make our products more widely available ."
Under the new agreement with Faisal Musaed El Seif Saudi Pharmaceutical Co, Martindale Pharma's portfolio will be promoted via a dedicated sales team to both private and public hospitals in Saudi Arabia.
The award under the SGH 38 tender is to supply a total of 13 products to Saudi Arabia's Ministry of Health hospitals. The products awarded represent a 30% increase in the number of product lines and an increase of 70% over the previous tender in value. Supplies to hospitals under SGH 38 are expected to start in September 2016 and will run for 12 months.
SGH 38 is an open tender and Martindale Pharma competes to supply these products against the major pharma companies.
Michael Harris, CEO of Martindale Pharma, added: "The opportunity in Saudi Arabia and the Gulf region for Martindale Pharma's sterile injection business has been driven by three factors; firstly significant investment in a modern, efficient manufacturing facility in the UK, secondly the reputation of Martindale Pharma and its partners in the region for our ability to consistently supply a range of high quality products at competitive prices, and thirdly the national regulatory approval of Martindale Pharma products ."
Notes to editors
About Martindale Pharma®
Martindale Pharma is a leading UK-based, international specialty pharmaceutical company providing essential medicines to over 28 countries around the world.
Our strategy is to build leading positions in defined business segments where there is a high unmet medical need and a demand for improved product presentations. Our focus is on Opioid Addiction, Emergency Care, Hospital-initiated Medicines, Ophthalmics and Unlicensed Medicines (also called "Specials").
With a strong UK presence with expertise in marketing hospital and specialty medicines, Martindale Pharma is recognised as a strategic partner to the NHS and other healthcare providers and supplying over 100 licensed products and with a track record of successful new specialty product launches.
The business also includes a rapidly growing international organisation currently centred on three geographical regions: Saudi Arabia and the Gulf Co-Operation Council territory, Australia and South East Asia and Northern Europe (focused on Scandinavia).
Uniquely as an independent pharma company the company is underpinned by our own modern, efficient UK manufacturing facility which enables us to develop and compete globally to supply high quality, low cost specialty pharmaceuticals in sterile injection and oral liquid formats.
For further information visit our new website http://www.martindalepharma.co.uk
Mary Clark, Hollie Vile
SOURCE Martindale Pharma