Deeply export of self-developed R&D and formulation technologies, and expand the supply of neurology drugs to Saudi Arabia and the Middle East markets
Genovior Biotech Collaboration (hereinafter referred to as " Genovior ") announced today that it has officially signed an exclusive licensing and commercialization cooperation agreement with European International Company. Genovior will grant the development, registration and commercialization rights of the product in Saudi Arabia and multiple markets in the Middle East.
Due to the authorized business model and market oriented development, Saudi government departments have gradually included mental illness in the scope of public medical insurance, and these Middle East countries have promoted the destigmatization of mental illness and improved community psychological care resources. The trend of imports is increasing, and regional pharmaceutical companies are gradually building market distribution capabilities. European partner hopes that Genovior 's establishment of a psychiatric product line will allow it to successfully enter this authorized market. Our future opportunities exist to consolidate Genovior 's strong commercial network in Europe while also strengthening its presence in the Middle East and North Africa, Southeast Asia, and Central and South America.
European partner is located in Germany. The company focuses on three pillars: consumer healthcare products, generic drugs, and specialty pharmaceuticals. Its products are distributed in more than 100 countries around the world. The international group of companies has sales of € 4 billion. As of December 31, 2024, it has more than 11,000 employees.
Dr. Steve Hsu, Chairman of Genovior, said:
"This collaboration marks a significant milestone in Genovior 's expansion into psychiatric medication contract manufacturing and also represents a concrete step in our continued expansion into the Middle East market."
" Genovior possesses Asia's rare fully synthetic peptide drug development capabilities and a sterile liquid dosage form production platform. Combined with our experience in European drug licensing collaborations and access to drug distribution channels, we are confident that we can quickly introduce this product into the Middle East market to meet the region's substantial mental health care needs."