CinnaGen Pharmaceutical Group, which was established in Iran in 1994, and started to operate in Turkey in 2016 with a research and development (R&D) center and a factory investment, signed a 5 million euro deal with Ebn Sina Medical, Qatar's most established company in pharmaceuticals, for the first biotech drug export to Qatar. Under the agreement, biotech drugs will be exported from Turkey to Qatar for multiple sclerosis, rheumatoid arthritis, cancer and blood diseases.
The signing ceremony for the agreement between CinnaGen and Ebn Sina Medical, which operates as an Al Faisal Holding subsidiary Aamal Group and controls more than 50 percent of Qatar's pharmaceutical market, for the exports of biotech drugs was held in Doha with the participation of Turkey's ambassador to Doha Fikret Özer.
At the signing ceremony, CinnaGen Pharmaceutical Group CEO Haleh Hamedifar, Ebn Sina Medical General Director Sherif Shehata and CinnaGen Pharmaceuticals co-founder and CEO Ferhat Farsi were in attendance.
Speaking at the signing ceremony, Ozer said he is pleased with the cooperation between Ebn Sina Medical and CinnaGen.
"Such relations between Turkish and Qatari companies are increasing with each passing day," Özer said. "These collaborations will influence and improve the economy of both countries in a positive way. We urge Turkish companies to visit Qatar, establish new business opportunities and build solid and long-lasting partnerships with Qatari companies."
Farsi said that the 5 million euro deal is with one of the most established companies in Qatar's pharmaceutical industry, adding that they signed the first export deal for biotech drugs with Qatar, following Sri Lanka, Algeria, Moldova, Bosnia-Herzegovina, Jordan, Senegal and Ecuador.
Noting that factory investments are ongoing at the Tekirdağ-Çerkezköy Organized Industrial Zone, Farsi said that they will move on to the pilot production in the third quarter of this year and that the total investment will reach $100 million along with R&D.
Farsi said with an investment of $100 million they are getting ready to establish a biotech base in Turkey. Explaining that the base will go into production in September 2018, Farsi said they have begun to establish millions of dollars of export connections before starting the production phase.
Citing that Qatar has the fastest growing economy in the world, Farsi said as the developments in science and technology are beginning to be used in the field of medicine, it is possible to treat many types of cancer, blood diseases and rare diseases, adding that the use of biotech drugs in Qatar is also growing at the same pace.
"With this agreement, we aim to increase the accessibility of Qatar's healthcare sector to biotechn drugs by establishing strategic cooperation between us and Ebn Sina Medical," Farsi said. He added that Turkey's exports to Qatar's pharmaceuticals are around 1 million euros. "With our 5 million euro agreement we will have increased our country's drug exports to Qatar fivefold. CinnaGen Pharmaceuticals is pleased to have realized the first cooperation between the two countries in the field of biotechnology." He also stressed that the deal will also pave the way for new partnerships for other countries in the region.
Recalling that the construction of the company's production and R&D facility in Turkey is under way, Farsi said that they will launch the pilot production in September 2018, and that with these investments, they want to contribute to biotechn drug production and development in Turkey as well as the country's goal of value-added exports.
Ebn Sina Medical's Shehata said they are quite pleased with the agreement, which will give Qataris access to biotech drugs.
He said he has been in search for partners to establish long-term cooperation in Turkey since the beginning of his career. "I am glad to have realized this with CinnaGen Pharmaceuticals. We will execute the sales and marketing activities of biotechnological products that will come from Turkey," Shehata said.