Hanmi Pharmaceutical announced plans to export several of its homegrown drugs, including innovative treatments approved in major markets such as the U.S. and Korea, to the Middle East and North Africa (MENA) for the first time.

The company said Thursday that it had signed an exclusive licensing deal with Tabuk Pharmaceuticals, a Saudi Arabian pharmaceutical firm, to introduce its flagship products across the MENA region. 

Hanmi Pharm said that the agreement is part of a broader initiative to boost exports to the Middle East, aligning with a Korean government effort led by the Ministry of Trade, Industry, and Energy to enhance trade in the region.

The move is expected to open new doors for the company in a market of approximately 600 million people. “Saudi Arabia, in particular, is considered a high-growth market due to its expanding pharmaceutical sector and strong economic standing,” Hanmi Pharm said, adding that Tabuk, with its established sales network spanning 17 countries, will help distribute Hanmi's products throughout the region.

The two companies held an official signing ceremony this Tuesday at CPHI 2024, a pharmaceutical and biotech expo held in Fiera Milano, Italy. Key figures, including representatives from Hanmi Pharm’s global division, Hanmi Pharm Vice Chairwoman Lim Ju-hyun, Tabuk CEO Ismail Shehada, and Tabuk Chief Business Officer Wisam Alkhatib, attended the ceremony.

Through this partnership, Tabuk plans to secure local approvals and initiate full-scale sales of several innovative specialty drugs developed by Hanmi Pharm, with initial products targeting the urology sector and biopharmaceuticals for oncology. Building on this, the two companies will sequentially introduce leading treatments designed to address major medical challenges in the MENA region, leveraging advanced research and development expertise.

Shehada expressed his enthusiasm, saying, "We are thrilled to introduce Hanmi Pharm’s products to the MENA region. With the combined expertise of both companies, we expect to provide more innovative treatments to healthcare professionals and patients, making a meaningful contribution to the MENA healthcare system."

Lim, who attended the signing ceremony with Tabuk, added that this partnership demonstrates both companies' strong commitment to addressing critical medical issues and delivering better treatment outcomes for patients. “We anticipate significant synergy from combining Hanmi Pharm’s R&D expertise with Tabuk’s strong regional presence, and we will do our utmost to bring meaningful change to the lives of MENA patients,” she said.