Formosa Pharmaceuticals Strikes Exclusive Licensing Deal with Tabuk for Innovative Eye Surgery Drug in MENA

10 May 2024 | Friday | News

The agreement grants Tabuk Pharmaceuticals exclusive rights to commercialize Formosa's FDA-approved clobetasol propionate ophthalmic suspension, APP13007, offering a new solution for post-operative eye care across the Middle East and North Africa.
Image Source : Public Domain

Image Source : Public Domain

Taiwan-based Formosa Pharmaceuticals announced that the company has entered into an exclusive licensing agreement with Tabuk Pharmaceuticals Manufacturing Company, for exclusive rights to the commercialization of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), a patented innovative medicine for the treatment of inflammation and pain following ocular surgery in key regions of the Middle East and North Africa (MENA).  Clobetasol propionate ophthalmic suspension, 0.05% (APP13007) was approved by the U.S. Food and Drug Administration (FDA) on March 4, 2024.  The licensing agreement includes upfront, commercialization milestones, and sales milestones, with additional considerations throughout the term of the agreement.


APP13007's active ingredient is the superpotent corticosteroid, clobetasol propionate, and is derived from Formosa Pharma's proprietary APNT™ nanoparticle formulation platform.  The novel formulation enables a convenient and straightforward dosing regimen (twice daily for 14 days) while providing rapid and sustained relief of inflammation and pain, which in Phase 3 trials proved statistically and clinically superior to its matching placebo (p<0.001).  APP13007 will have significant potential in the MENA region for the ocular surgery market.

"We are pleased to establish this partnership with Tabuk Pharmaceuticals, the largest private Saudi company and one of the most prominent pharmaceutical corporations in the MENA region.  We are confident Tabuk's experience, vast network, and commitment to value-added and innovative medicines will deliver APP13007 to patients recovering from ocular surgery," said Erick Co, President and CEO of Formosa Pharmaceuticals.

Ismail Shehada, CEO of Tabuk Pharmaceuticals, stated, "We are excited at Tabuk to be partnering with Formosa to introduce this innovative drug for patients in Saudi Arabia and remaining MENA countries which reinforces our leading position in the region and our role to deliver unique health solutions and enhance the well-being of people."

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