Searle Company Limited (Searle) has entered into a license agreement with China’s Mabwell Pharmaceuticals, under which Searle will manufacture, register, and market the Denosumab Biosimilars drugs in Pakistan.
Searle, which is principally engaged in the manufacture of pharmaceutical and other consumer products, shared the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.
“Mabwell is pleased to partner with Searle Co Ltd to commercialize and localize Denosumab biosimilars in Pakistan,” said Dr Datao Liu, Co-founder, Chairman of the Board, and CEO of Mabwell in a statement.
Liu said Pakistan is an important country in China’s Belt and Road Initiative with a large market and ‘great demand’. “This partnership will benefit the patients in Pakistan by providing high quality affordable biological medicines,” he added.
Similar sentiments were expressed by Syed Nadeem Ahmed, Group Managing Director and CEO of Searle Company Limited.
“Partnership with Mabwell is an integral part of our strategy to develop further our biotechnology business in Pakistan,” said Nadeem Ahmed.
“The goal of this project is not only to bring Mabwell products to Pakistan, but also to establish cooperation with such an innovative company as Mabwell.
“This cooperation also represents an important milestone for Searle Co Ltd., and for our patients in Pakistan that will ensure the social benefit from an increased access to high-quality affordable medicines” he added.
Searle is one of the top pharmaceutical companies in Pakistan having eight state-of-the art manufacturing facilities and global presence in 18 countries.
Comments
Comments are closed for this article.