In a strategic move aimed at enhancing healthcare and localizing advanced pharmaceutical industries, Middle East Pharmaceutical Industries (Avalon Pharma), a leading company in the Kingdom, announced the signing of an exclusive marketing agreement with BioThera Solutions, a global company specializing in the development and production of innovative biologic and generic drugs. This partnership represents a significant milestone in the field of cancer treatment in the region and aligns directly with the ambitious goals of the Kingdom’s Vision 2030 for developing the healthcare sector.
Historical background and context of the agreement
This announcement comes at a time when the world, and the Middle East in particular, is witnessing rapid advancements in cancer treatment methods. Immunotherapy, to which pembrolizumab belongs, is one of the most significant of these developments, as it works by stimulating the body's immune system to effectively attack cancer cells. Keytruda (the original product) is one of the leading drugs used globally in this field. This agreement aims to provide a high-quality, competitively priced biosimilar alternative, thereby expanding access to this advanced treatment.
Details and importance of the agreement
Under the agreement signed on February 3, which extends for 15 years and is renewable, Avalon Pharma has obtained exclusive rights to register and market the drug pembrolizumab in Saudi Arabia and the MENA region. The company stated in its official filing with the Saudi Stock Exchange (Tadawul) that the contract is expected to generate additional revenue of at least SAR 500 million, reflecting the large market size and increasing demand for effective cancer treatments.
Expected local and regional impact
At the local level, this partnership will improve access to the latest immunotherapies for cancer patients in the Kingdom, potentially enhancing treatment outcomes and quality of life. The agreement also paves the way for technology transfer and the future localization of this complex biological product, strengthening the Kingdom's pharmaceutical security and creating specialized job opportunities. Regionally, Avalon Pharma's acquisition of marketing rights in the Middle East and North Africa region solidifies the Kingdom's position as a leading regional hub for the pharmaceutical and biotechnology industries, facilitating access to this vital medicine for millions of patients in neighboring countries.
