This post has been read 19036 times!
KUWAIT CITY, Jan 29: As part of Kuwait Ministry of Health’s endeavor to meet the local market’s demands for pharmaceutical supplies, a special partnership has been formed with the international company “Abbott Laboratories” that specializes in medical devices and healthcare, in a joint partnership agreement with Kuwait Saudi Pharmaceutical Industries (KSP), a subsidiary of Mezzan Holding. This partnership works on locally manufacturing 26 innovative products in Kuwait. Commenting on this new partnership, H.E. Dr. Ahmad Al Awadi, Minister of Health said: “This partnership supports the ministry’s goal of making Kuwait the pharmaceutical hub in the Middle East, placing great importance on the quality of medications and pharmaceutical products that it procures, securing the needs of our country.”
He then added: “The welfare of our nation is our priority, and today, Kuwait will proudly have direct access to innovative and quality products that cater to the local needs, while also benefiting from the knowledge we will be gaining. Ultimately, investments from multinational companies such as Abbott not only contribute to the well-being of our local community, but also to the diversification and growth of Kuwait’s economy in line with its New Kuwait Vision 2035. We’re here today, proudly witnessing a promising partnership between Abbott and KSP (subsidiary of Mezzan Holding KSCP), a leading Kuwaiti pharmaceutical firm.”
The partnership marks a milestone for Kuwait with an international pharmaceutical company investing in local manufacturing. The agreement was facilitated and supported by Kuwait Ministry of Health and the US Embassy. By localizing the manufacturing, Kuwait will have easier and faster access to these products, while also benefiting from transfer of technologies, employment opportunities and training programs to handle the most up-to-date equipment and tools
In light of this partnership, Dr. Rashed Khazal, Chairman and Managing Director of KSP stated: “We are immensely proud to be partnering with Abbott in this milestone agreement for our company and Kuwait. Abbott is a solid brand when it comes to quality and innovation and we believe this is the start of a long-term partnership that will help us advance our manufacturing capabilities and the pharmaceutical sector in Kuwait.” With a 15-year track record of successful manufacturing and distribution of pharmaceutical products for local and regional customers, KSP has in recent years invested in its manufacturing lines, manufacturing facilities, and strategic partnerships to develop the product and portfolio range.
Today, the company manufactures over 120 products, making them available to the Kuwaiti as well as the Middle Eastern market, and aim to continue expanding its portfolio of high-quality medicines. Also commenting on the partnership and the roles public institutions played in facilitating the partnership, Mr. James Holtsnider, Charge d’Affaires at the US Embassy, asserted, “This is a big deal for both Kuwait and Abbott. This investment will help improve the healthcare ecosystem in Kuwait, while also underscoring efforts being made to create a businessfriendly atmosphere that attracts new investment. It also demonstrates Abbott’s long-term commitment to Kuwait and the well-being of Kuwaiti citizens”. He also added: “We are also proud to announce that Abbott is taking on a leadership position as a Board member of the US-Kuwait Business Council, which further highlights their prioritization of this bilateral relationship.”