Banaja to distribute infant formula in Saudi
Jeddah, May 10, 2011
Banaja Pharmaceuticals Company (BPC), a leading Saudi healthcare company, has signed an exclusive agreement to distribute International Pediatric Nutrition Company's (IPNC) infant formula in the kingdom.
The International Pediatric Nutrition Company is a joint venture between Almarai and Mead Johnson for local manufacturing of infant formulas in Saudi Arabia.
The distribution agreement, the first of its kind, is for the Almarai Enfamil product line; a line of infant formulas tailored for the specific nutritional and development needs of infant and children.
The infant formula market in the kingdom is estimated to be worth approximately $300 million. According to Business Monitor, the value of Saudi Arabia’s infant formula market is forecasted to post a compound annual growth rate of 6.52 per cent through to 2014.
“This agreement enables bpc and IPNC to offer better infant nutrition through our integrated distribution network in Saudi Arabia,” said Hani Dabbour, general manager of Banaja Pharmaceuticals.
“We are excited to be working with bpc on our soon to be locally manufactured Almarai Enfamil infant formulas and thus ensuring that our products are being distributed to their final destinations to the highest quality standards,” added Chuck Davin, IPNC general manager.-TradeArabia News Service