Martindale Pharma, a pharmaceutical company based in the U.K., recently signed a distribution agreement with Faisal Musaed El Seif Saudi Pharmaceutical Co. to extend its reach into Saudi Arabia.
Faisal Musaed El Seif Saudi Pharmaceutical has a long-standing relationship with Martindale Pharma, making the agreement key in growing Martindale Pharma’s global business and its offerings for emergency care and hospital-initiated medicine products in the region.
Martindale Pharma also was recently authorized, under SGH 38 tender, to begin promotions of six products in Saudi Arabia for supply to Ministry of Health Hospitals in Saudi Arabia and hospitals in Oman, Qatar, Bahrain, Kuwait and the UAE.
“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 health care providers in this growing market for pharmaceuticals,” Martindale Pharma CEO Michael Harris said. “This extended and deepened relationship coupled with national marketing authorizations 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,” Harris said. “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.”
Martindale Pharma's line of products will be marketed by a dedicated sales team to public and private hospitals within Saudi Arabia under then agreement with Faisal Musaed El Seif Saudi Pharmaceutical Co.
The work granted under the SGH 38 tender is to provide a total of 13 products to Saudi Arabia's Ministry of Health hospitals. The 13 products represent a 30 percent increase in the number of product lines and an increase of 70 percent over the previous tender in value.
“The opportunity in Saudi Arabia and the Gulf region for Martindale Pharma's sterile injection business has been driven by three factors,” Harris said. “Firstly, significant investment in a modern, efficient manufacturing facility in the U.K.; 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.”