AMMAN, Jordan, January 19, 2018 /PRNewswire/ --
Tabuk Pharmaceuticals Manufacturing Company ("Tabuk"), one of the leading pharmaceutical companies in the Middle East and North Africa region, has entered into an exclusive licensing and supply agreement with red otc development GmbH ("red otc") on Ivy oro-dispersible thin films ("Ivy ODF"), red otc is a leading German company that creates and develops innovative and highly competitive OTC products.
Under this agreement, red otc has granted Tabuk exclusive rights, as becoming and being the Marketing Authorization Holder for Ivy ODF, in order to commercialize and distribute Ivy ODF in the Kingdom of Saudi Arabia, the Gulf and Levant area. Ivy ODF contains herbal extract of the well-known plant Ivy (Hedera helix), a natural ingredient that is used as an expectorant in productive cough.
Ivy ODF is the latest innovation in the field of herbal medicinal products - the first herbal medicinal product based on ODF technology in the world. The ODF technology is one of the most recommended dosage forms by the European Medicine Agency for the treatment of pediatric population and it offers many advantages compared to syrups. It provides the patient with the ease of use since it doesn't need a measuring device, also it's suitable for patients with swallowing impairments or having a high risk of aspiration. Moreover; its exact dosing; easy handling; "take-away" dosage form will give more convenient option for patients.
This project demonstrates Tabuk's continued commitment to patients and to offering new, innovative medicines within an ongoing collaboration with global partners to deliver on its mission to help improve the lives of patients.
Dr. Rana Azzam, leading the Business Development in Tabuk, said: "We are very excited to establish this collaboration with red otc, a highly respected pharmaceutical company, and we expect that this will be the start up for a long term collaboration on new products in different areas."
"Working exclusively together with Tabuk, a highly esteemed and leading pharmaceutical in middle east region, is a great honor for us. We are fully convinced that our partnership with Tabuk will be extremely fruitful for the future of both companies," commented Dr. Thomas Haffner, General Manager of red otc.
SOURCE Tabuk Pharmaceuticals