SAUDI ARABIA – In order to boost overall exports, Avalon Pharmaceuticals is re-establishing its focus across key markets in the Gulf Cooperation Council and beyond.
In an official statement, Avalon Pharmaceuticals said: “A key aspect of the company’s expansion plan is to refocus efforts in strategic focus markets through partnerships with distributors specific to each market.”
The ultimate goal is to increase overall exports from 10% to 30% by 2030 and to achieve this target, the company will prioritize innovation and research and development.
Avalon Pharmaceuticals is one of the fastest-growing home-grown pharmaceutical companies headquartered in the Kingdom of Saudi Arabia.
The pharmaceutical company operates in more than 15 countries, including countries in the GCC, the United Arab Emirates, Iraq, and Jordan.
The company intends to continue its advancement with a multi-pronged international expansion plan. Its expansion plan objective has two different route-to-market (RTM) approaches.
Commenting on this expansion across the region, Ahmad Al Tabbaa, Chairman of the Board at Avalon Pharmaceuticals, said: “Our success in the pharmaceutical industry is based on more than two decades of success in the Kingdom of Saudi Arabia.”
One of the RTM approaches involves having a representative from Avalon Pharma on the ground in strategic focus markets to be able to monitor the business closely with its partners.
Additionally, the company plans to expand business in new target markets, primarily through distribution partners with indirect follow-up from Avalon Pharma.
The company is set to increase its reach in new target markets such as the Arab Republic in Egypt, Indonesia, Malaysia, and the Kingdom of Morocco.
Compounding on numerous strides made in the UAE, the company will also establish a country manager in the State of Kuwait to help service Kuwaiti and Bahraini regions.
“Further international expansion will take place by targeting emerging markets such as Libya, Sudan, Uganda, and Egypt, with an additional focus placed on exploring markets in North Africa and East Asia,” outlined Ahmad Al Tabbaa.
To this end, Avalon Pharma will continue to champion the “Made in Saudi” tagline affixed to its products, a popular hallmark within key international markets.
Avalon Pharma has strengthened the global awareness of Made-in-Saudi products, offering new opportunities in the GCC and beyond.
Avalon Pharma will work closely with the Saudi Export Development Authority (SEDA) to achieve the above-mentioned aims as the company continues to expand.
In his address, Mohamed Maher Al Ghannam, Managing Director and Chief Executive Officer of Avalon Pharma, said: “We are well-positioned to continue our expansion within the GCC and across several new markets.”
Backed by the Saudi Export Development Authority, Avalon Pharma has made considerable advancements by targeting its focused markets over the years.
It is noteworthy that SEDA is committed to expanding Saudi companies’ access to the global marketplace by promoting the use of Saudi products in foreign markets.
Under its ambitious expansion plan, Avalon Pharma will leverage the company’s 25-year history in the Kingdom of Saudi Arabia when taking aim at new international markets.
Avalon Pharma has reiterated its commitment to the GCC by establishing a presence within the Dubai Science Park, the region’s first science-focused business community.
Avalon Pharma is also set to open a regional office in the Emirate of Dubai staffed by a team dedicated to the company’s international ambitions.
In addition, the company is preparing to introduce its health and prescription medicine expertise across the Gulf Cooperation Council and beyond while solidifying its reputation for quality and trust.