Innovus Pharma signs exclusive deal with Tabuk Pharmaceuticals

Tabuk Pharmaceutical Manufacturing Company (Tabuk), one of the leading pharmaceutical companies in the MENA region, has entered into an exclusive license and distribution agreement with Innovus Pharmaceuticals, Inc. (Innovus Pharma).
This project is aligned with one of Tabuk Pharmaceuticals’ main strategic objectives: to expand its offering of innovative medicines in Saudi Arabia & MENA by strengthening its position in its domestic market through partnerships with multinational companies. In so doing, Tabuk Pharmaceuticals says it continues to deliver on its mission to help improve the lives of patients.
“This partnership illustrates our commitment to leverage our MENA-wide footprint and to serve multinational partners looking to maximize their potential in the region,” said Ismail Bel-Bachir, CEO of Tabuk Pharmaceuticals.
Rana Azzam, SVP of business development, said: “We are pleased to add Innovus’ unique products to our growing portfolio, and help address a large unmet medical need in the region. We look forward to start building market share and revenues from these products.”
Bassam Damaj, president and CEO of Innovus Pharma, commented: "We are very excited about this major commercial partnership collaboration with Tabuk for our products.”
He said: “This type of product is in very high demand in the region. Saudi Arabia is the largest market in the region and we expect significant potential revenue from this region. With this partnership, the sixth of many partnerships, the company is expected to announce in the near future the company’s execution of its international growth and making our products commercially available in a minimum of 40 countries by the end of 2015."
According to the agreement, Innovus Pharma has granted to Tabuk an exclusive license to market and sell Innovus Parma's topical treatment for premature ejaculation EjectDelay, its product Sensum+ to increase penile sensitivity and Vesele to increase sexual and cognitive health in Saudi Arabia, the Gulf countries, and MENA.