Merck Serono and Abu-Dhabi-based manufacturing company Neopharma have signed a partnership to develop Merck-branded medication in the UAE for distribution across the Middle East.
As per the deal, Merck Serono becomes the first multinational pharmaceutical company to work with a local manufacturer to cater to regional demand for the key pharmaceutical products through exports out of the UAE manufacturing base.
The agreement was signed by Neopharma’s Managing Director and Chief Executive Officer Dr. B.R. Shetty and Merck Serono CEO Dr Stefan Oschmann.
The new partnership agreement of Neopharma with Merck Serono comes close on the heels of its collaboration with India’s billion dollar pharmaceutical giant Hetero Group to produce medicines locally. Both the companies had already signed a joint venture to form a distribution company in the first phase of their partnership.
The newly formed company will distribute Hyderabad-based Hetero’s pharmaceuticals in the UAE. Initially, the two Merck Serono products will be manufactured by Neopharma: Euthyrox, a hormone therapy requiring a very stringent sterile environment for production and packaging and Glucophage a standard oral treatment for people suffering from type 2 diabetes that helps control blood sugar levels.
The production of both branded medications will begin in 2013.
Merck Serono is a pharmaceutical company based in Geneva. The company is involved in internal research and development activities and is also involved in publicly funded collaborative research projects with other industrial and academic partners.