Abbott and Kuwait Saudi Pharmaceutical Partner to broaden access to 26 locally manufactured medicines

During an event held today at the Kuwait Saudi Pharmaceutical Industries headquarters in Kuwait, H.E. Kuwait’s Minister of Health, Prof. Khaled Al-Saeed, praised the completion of a partnership to locally manufacture 26 high quality medicines from Abbott, a global healthcare leader. Following a transfer of know-how, Kuwait Saudi Pharmaceutical Industries (KSP), a subsidiary of Mezzan Holding, has become a trusted partner that is now making the 26 Abbott medicines in Kuwait.

This milestone marks the first time an international healthcare company such as Abbott broadens access to quality medicines by localizing their production. The first release of the locally manufactured products is scheduled later in the year.

Prof. Khaled Al-Saeed said: “Localizing the manufacturing of pharmaceutical products from a leading global healthcare company not only brings forward the strength of local private companies in the sector, but also gives Kuwait simpler and faster access to these products. It allows the country to benefit from technology transfer, employment opportunities and training programs to handle the most up-to-date equipment and tools. Today, Kuwait is proud to see this initiative flourish and expand its innovation and technology development, in line with the New Kuwait Vision 2035. Overall, this contributes to realizing the one of the key pillars of the National Development Plan – building high quality healthcare in Kuwait.”

Facilitated by the Ministry of Health, U.S. Chamber, Kuwait Investment Promotion Authority (KDIPA) and the Public Authority for Industry (PAI), the partnership between Abbott and KSP is a precursor in attracting further foreign investments in the healthcare sector. It is a decisive step as Kuwait continues to seek promoting a business-friendly environment and grow foreign investments.

The event was also attended by H.E. the Minister of Commerce and Industry, Mr. Fahad Al Sharean. He said: “This is the first foreign investment in Kuwait with such a significant scope in the healthcare industry. This is also the first time that a global healthcare company localizes production in Kuwait and the first time that we will have the ‘Made in Kuwait’ stamp on products that used to help with the health and wellbeing around the globe. This is without a doubt a positive milestone for Kuwait’s economy as it propels its industry and local capabilities to an international level.”

Speaking at the event, Mr. James Holtsnider, Deputy Chief of Mission, U.S. Embassy – Kuwait, highlighted the significance of this investment in the context of the bilateral economic relationship between the two countries, outlining the role of the U.S. Chamber in facilitating the partnership and promoting economic ties between the two countries.

26 Abbott-owned products are now being manufactured by KSP. These include the manufacturing of Betahistine, the world’s leading treatment for vertigo. By establishing reliable quality and supply of medicines in Kuwait, Abbott is delivering on its commitment to transform the way people use medicines, through differentiated products and services, which people can trust to live not just longer, but better.

The products are being manufactured in KSP’s facilities in Kuwait. The company has a 15-year track record of successful manufacturing and distribution of pharmaceutical and healthcare products for local and regional customers. Today, the company manufactures over 120 products, making them available to the Kuwaiti market as well as in the Middle East, and aims to expand its portfolio with additional high-quality medicines.

Mr. Mohammed Al Wazzan, Vice Chairman of Mezzan Holding, said, “Today marks a new chapter in Kuwait’s economic and healthcare industry. We are very proud to be announcing the start of manufacturing of Abbott’s renowned products in Kuwait, reaffirming KSP’s strength in delivering world-class products, as well as the value our company has been adding to Kuwait’s economy and medical sector for over 75 years.”

“We have been preparing relentlessly to start the manufacturing line of Abbott’s medicines over the past eight months in order to release these as “Made in Kuwait” products. This partnership with Abbott, a global healthcare leader known and standing for quality and innovation, is testament to our capabilities. We thank them for their trust and look forward to advancing the healthcare sector in Kuwait together,” commented Dr. Rashed Khazal, Chairman and Managing Director of KSP.

On his part, Mazen Bachir, General Manager for Abbott’s established pharmaceuticals business in the Gulf and Emerging Markets, said, “Abbott has stood for innovation and trust for over 130 years, delivering high quality, life-changing healthcare products and solutions around the world. We are proud to have been serving people in the Middle East and Kuwait in particular for over 60 years. Today ushers yet another milestone in this journey through our partnership with KSP, as we aim at getting closer to the people and communities we serve.”

Commenting on the partnership and the role public institutions had in facilitating the partnership, Steve Lutes, Vice President of Middle East at the U.S. Chamber, asserted, “We are pleased to see this significant partnership for both Kuwait and Abbott move forward today, and in record time despite challenges brought about by the global pandemic. KSP has demonstrated its operational excellence in launching the production line in record time for the agreement to start contributing to the healthcare ecosystem in Kuwait as part of Abbott’s long-term commitment to Kuwait and the wellbeing of Kuwaiti citizens. The collaboration of these two companies also showcases efforts to create business-friendly ties between Kuwait and the U.S. and prioritize bilateral relations.”