Hanmi Pharmaceutical has officially announced its entry into the Middle Eastern market with its biosimilar drug ‘Rolontis’, used for treating neutropenia. On the 8th, Hanmi Pharmaceutical disclosed that it had signed a supply agreement for Rolontis with Tabuk Pharmaceuticals, a leading pharmaceutical company in Saudi Arabia. This agreement expands on the partnership established in October last year, with both companies set to collaborate on introducing Rolontis to the Middle Eastern market.
Jae-hyun Park, CEO of Hanmi Pharmaceutical, attended the International Pharmaceutical and Biotech Exhibition (CPHI Middle East 2024) held in Riyadh, Saudi Arabia last year, where he strengthened cooperative relations with Tabuk’s CEO Ismail Shehada and Chief Business Officer Wisam Al Khatib. Tabuk, leveraging its market experience and expertise in the Middle East and North Africa (MENA) region, will play a crucial role in ensuring Rolontis’ stable entry into the regional market.
The MENA region represents an extensive market with approximately 600 million residents. Saudi Arabia, in particular, is experiencing an expanding pharmaceutical market based on its high income levels. Tabuk is a leading pharmaceutical company with sales networks in 17 countries across the Middle East and North Africa.
Rolontis, an anticancer biosimilar drug developed in-house by Hanmi Pharmaceutical, was the first to receive FDA approval from a Korean pharmaceutical company. Launched in the U.S. market in 2022 under the local brand name ‘Rolvedon’, it has proven its global competitiveness by generating quarterly sales of around 20 billion won. As of 2024, cumulative sales in the U.S. have exceeded 200 billion won, while the domestic market has grown by 26% year-on-year based on cumulative figures for the second quarter of this year.
In addition to the Rolontis supply agreement, both companies plan to continue collaborating on introducing various specialty pharmaceuticals to the Middle Eastern market, including Hanmi Pharmaceutical’s ‘Gugutams’, a combination drug for treating benign prostatic hyperplasia and erectile dysfunction.
Ismail Shehada, CEO of Tabuk, stated, “The partnership with Hanmi demonstrates our shared commitment to realizing innovation and contributing to the development of the healthcare industry in the Middle Eastern market, including Saudi Arabia.” He added, “The combination of Hanmi’s scientific competitiveness, Tabuk’s regional network, and patient-centric vision will enable Rolontis to set a new standard in patient treatment and help improve treatment outcomes.”
Jae-hyun Park, CEO of Hanmi Pharmaceutical, said, “We have established an important foundation for discovering future growth engines for Hanmi in the MENA region,” adding, “Our collaboration with Tabuk will be the starting point for realizing our global vision and establishing the Hanmi brand within the Middle East region.”
Photo: Jae-hyun Park, CEO of Hanmi Pharmaceutical (right), and Ismail Shehada, CEO of Tabuk, pose for a commemorative photo at ‘CPHI Middle East 2024’ held in Riyadh, Saudi Arabia last year. / Photo provided by Hanmi Pharmaceutical
