Martindale Pharma announces major extension to partnership in Saudi Arabia and substantial new business wins

Sales in Middle East to grow significantly in next 2 years.

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 for 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.”