Cigalah Healthcare, a major name in Saudi healthcare for medicines and medical tools, has made a significant deal with Abdi Ibrahim, a top pharmaceutical company in Turkey. This partnership aims to bring in high-quality medicines to Saudi Arabia.
This partnership marks a significant step forward for both companies in the region, aiming to raise healthcare standards across the board. It reflects a broader trend of collaboration within the pharmaceutical industry to improve regional healthcare offerings.
The partnership involves importing products directly into the country and also manufacturing them locally, creating numerous job opportunities for Saudi nationals and improving the healthcare industry. Cigalah Healthcare, along with its manufacturing division ‘Alpha Pharma,’ will plan how to introduce key products into the market. These products include those for the Central Nervous System (CNS), Cardiovascular system (CVS), Respiratory system, and Oncology.
The collaboration was sealed on April 29, 2024, in Jeddah at the Ritz Carlton, during a signing event attended by top executives and representatives from Cigalah and Abdi Ibrahim. Among those attending were Mr. Nezih Barut, Chairman of Abdi Ibrahim, Dr. Süha Taşpolatoğlu, CEO of Abdi Ibrahim, and Mr. Yaser Naghi, Chairman & CEO of Cigalah Healthcare.
Nezih Barut, Chairman of Abdi Ibrahim said: “As a longstanding company with 112 years of history, we owe our leadership in the Turkish pharmaceutical industry to our commitment to benefiting our country, our people, and the world wherever we operate. Abdi İbrahim’s strategic expansion to partner with Cigalah serves as another milestone in its journey of international growth. Healing more lives with each passing day, we are thrilled to embark on this collaborative journey which aligns with our commitment for sustainable growth and global expansion, strengthens our foothold in the Middle East while reinforcing bi-lateral ties between Saudi Arabia and Türkiye in the pharmaceutical sector.”
Yaser Naghi, Chairman & CEO of Cigalah said: “Our strategic collaboration with Abdi Ibrahim reinforces our commitment to elevating healthcare standards across the region. By leveraging the strengths of both organizations and fostering cooperation in areas such as research and development, manufacturing, and marketing, the joint venture will facilitate market access, promote quality healthcare, stimulate economic growth, foster bilateral partnerships, and contribute to the advancement of the pharmaceutical industry in the Middle East. In the long-term, the agreement between our two organizations will also significantly boost the Kingdom’s economy by more than SAR 500 million over five years and create new employment opportunities for Saudi citizens which aligns seamlessly with the Kingdom’s 2030 Vision and its health objectives.”
The healthcare market in Saudi Arabia is among the region’s largest. Through their joint venture, Abdi Ibrahim and Cigalah Healthcare aim to leverage this substantial market potential, offering tailored products, medications, and treatments to meet the specific needs of patients in Saudi Arabia.
