Equipment House unit secures ETHAMOLIN distribution rights

The move comes under an agreement with US-based QOL Medical LLC, according to a Tadawul statement.

The agreement has been registered with the Ministry of Commerce and will remain valid until 2030.

ETHAMOLIN, approved by the US Food and Drug Administration (FDA), is used for the sclerotherapy of bleeding esophageal varices, in accordance with its approved indications, Equipment House said.

Qurqas Pharmaceutical Warehouse currently supplies the drug to the National Unified Procurement Co. (NUPCO), with the related revenue reflected in the company's financial statements, it added.

Equipment House expects the exclusive distribution rights to support sustainable revenue and growth throughout the agreement period. Registration of the drug with the Saudi Food and Drug Authority (SFDA) could also create opportunities to expand its availability across the Kingdom's healthcare sector, the company said.

The company said it is currently completing the procedures to register the distribution rights and the drug with the SFDA, paving the way for its subsidiary to obtain the final drug license in its name.

The agreement is part of Equipment House’s strategy to expand its operations in specialized and niche pharmaceuticals.

Equipment House noted that it will announce any material developments in due course.