Tabuk Pharmaceutical Manufacturing Company, a leading pharmaceutical company in the Middle East and North Africa (Mena)  region, has entered into an exclusive license and distribution agreement with Innovus Pharmaceuticals.

The project has been aligned with one of Tabuk’s main strategic objectives - to expand its offering of innovative medicines in Saudi Arabia and the Mena region, by strengthening its position in its domestic market through partnerships with multinational companies, said a statement.

Dr Rana Azzam, senior vice president of Business Development, Tabuk, 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 chief executive officer of Innovus Pharma, said: "We are very excited about this major commercial partnership collaboration with Tabuk for our products. This type of product is in very high demand in the region and would is expected to be first in class in the region.

“Saudi Arabia is the largest market in the region and we expect significant potential revenue from this region. This partnership the sixth of many partnerships the company is expected to announce in the near future and is yet another milestone in 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 deal, 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, North Africa, and the Middle East. - TradeArabia News Service