New pharmaceutical deal to boost local production

Updated 03 May 2014
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New pharmaceutical deal to boost local production

Boehringer Ingelheim, a leading pharmaceutical company, has entered into a tripartite agreement for local production in Saudi Arabia with Cigalah and Tabouk.
This came from Boehringer Ingelheim’s interest in expanding in Saudi Arabia with innovative medicines.
Tabuk, the pharmaceutical manufacturing company, as a local manufacturing leader who wants to strengthen its products and services offering to Saudi patients, and Cigala as a major health care distribution player with strong local infrastructure — along with Boehringer Ingelheim, all have decided to combine scientific knowhow, technical expertise, and local infrastructure to serve the Saudi patients.
With this contract, Cigalah and Tabuk will manage and drive complex secondary packaging projects of 26 products for Boehringer Ingelheim from the starting point until full implementation to become finished goods.
This is the first milestone toward Boehringer Ingelheim’s future local primary manufacturing in the kingdom.
With Boehringer Ingelheim’s investment, interest to expand in Saudi Arabia and partnering with local manufacturing units, the company will be able to offer more innovative medicines for Saudi patients, helping them to improve health and quality of life.
In addition, the partnership aims to seed job opportunities, and act as a business driver where Boehringer Ingelheim contributes to the development of the overall pharmaceutical sector.
The company has established its full end-to-end capabilities in Saudi Arabia and will continue to increase its own local investments in the pharmaceutical space as well as local talent in order to drive socio-economic development; creating value for individuals and society as a whole.
The contract between the companies was signed by Dr. Abdul Aziz Al-Serafi CEO consultant of Cigalah Group, Dr. Hamad Al-Khamees, general manager Saudi Arabia Tabuk and Mohammed Al-Tawil, general manager, Boehringer Ingelheim Middle East and Near East Area.
The local production in Saudi Arabia satisfies only 15 percent of the demand and imports account for 85 percent of the domestic market.
The locally-grown companies primarily make generic drugs, while some also undertake under-license manufacturing and packaging on behalf of multinational pharmaceutical companies for supply in the domestic and regional markets.
Th agreement will help to establish new capabilities and capacities and a more effective supply chain to support Boehringer Ingelheim’s ambitious business plan and expansion in Saudi Arabia.
As the health care expenditure is forecasted to grow from 3.5 percent in 2010 to 6 percent of GDP by 2020, this partnership marks a significant step toward meeting the demand for quality medicines in the region while strengthening the infrastructure to locally provide therapies at par with the international standards.
Mohammed Al-Tawil, general manager, Boehringer Ingelheim Middle East and Near East Area, said: “We are delighted to enter into an agreement with Cigalah Group and Tabuk.


For Iranians, economic crisis looms larger than US tensions

Updated 34 min 24 sec ago
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For Iranians, economic crisis looms larger than US tensions

  • Iran’s 80 million people struggle to buy meat, medicine and other staples of daily life
  • Many pointed to the economy, not the possible outbreak of war

TEHRAN: Across Iran’s capital, the talk always seems to come back to how things may get worse.
Battered by US sanctions and its depreciating rial currency, Iran’s 80 million people struggle to buy meat, medicine and other staples of daily life.
Many pointed to the economy, not the possible outbreak of war, as Iran’s major concern. Iran’s rial currency traded at 32,000 to $1 at the time of the 2015 nuclear deal. Now it is at 148,000, and many have seen their life’s savings wiped out.
Nationwide, the unemployment rate is 12 percent. For youth it’s even worse, with a quarter of all young people unemployed, according to Iran’s statistic center.
“The economic situation is very bad, very bad. Unemployment is very high, and those who had jobs have lost theirs,” said Sadeghi, the housewife. “Young people can’t find good jobs, or get married, or become independent.”
Sores Maleki, a 62-year-old retired accountant, said talks with the US to loosen sanctions would help jumpstart Iran’s economy.
“We should go and talk to America with courage and strength. We are able to do that, others have done it,” Maleki said. “We can make concessions and win concessions. We have no other choice.”
But such negotiations will be difficult, said Reza Forghani, a 51-year-old civil servant. He said Iran needed to get the US to “sign a very firm contract that they can’t escape and have to honor.” Otherwise, Iran should drop out of the nuclear deal.
“When someone refuses to keep promises and commitments, you can tolerate it a couple of times, but then certainly you can’t remain committed forever. You will react,” Forghani said. “So I don’t think we should remain committed to the deal until the end.”
Yet for Iran’s youth, many of whom celebrated the signing of the 2015 nuclear deal in the streets, the situation now feels more akin to a funeral. Many openly discuss their options to obtain a visa — any visa — to get abroad.
“Young people have a lot of stress and the future is unknown,” said Hamedzadeh, the 20-year-old civil servant. “The future is so unknown that you can’t plan. The only thing they can do is to somehow leave Iran and build a life abroad.”