Avalon Pharma signs agreement with Chinese company to register, market drug in Middle East

Avalon Pharma strengthens regional presence with 15-year strategic agreement

Middle East Pharmaceutical Industries Co. (Avalon Pharma) signed a strategic marketing agreement with China’s Bio-Thera Solutions, a global biopharmaceutical company specializing in innovative biologics and biosimilars.

Avalon Pharma said in a statement to Tadawul that the 15-year-agreement is renewable, noting that the value of the contract represents more than 5% of the company’s total revenues.

Under the agreement, Avalon Pharma obtained exclusive rights to register and market the drug Pembrolizumab, a generic version of Keytruda, in the Kingdom and across the Middle East and North Africa, with the option of technology transfer to localize manufacturing of the product in the future.

Starting from 2030, the contract is expected to generate additional revenues of no less than SAR 500 million over the term of the agreement.

The company pointed out that the partnership enhances access to oncology treatments and aligns with the objectives of Saudi Vision 2030.