As part of CKD OTTO commitment to provide a high quality medicine specifically for oncology medicine, CKD OTTO has stepped into another milestone by collaborating with Algerian Pharmaceutical public company, Saidal Group. The MOU signing ceremony was held in Thursday, Dec 3rd, 2020 and due to Covid-19 pandemic, the event was held following the applied health protocol and Mr. In Hyun Baik, the President Director of CKD OTTO was joined via online. The event was attended by distinguished guest i.e The Minister of Pharmaceutical Industry in Algeria, Mr. Lotfi Benbahmed, The Ambassador of the Republic of Korea to Algeria, Mr. Lee Eun-Yong, The General Manager of KOTRA in Algeria (Korea Trade-Investment Promotion Agency), Mrs. Kim Hee Kyung, The CEO of Saidal Group, Mrs. Fatouma Akachem and The Representative of Indonesia Embassy in Algeria.
The business collaboration will be started by exporting oncology products produced by CKD OTTO’s plant in Cikarang, Indonesia to Saidal Group in Algeria. In the long run, technology transfer of these products will be performed once the manufacturing plant of Saidal Group for oncology medicine has been established and ready to be used. However, in the meantime, CKD OTTO is ready to supplying the needs of oncology medicine for Algerian market. Currently, Algeria pharmaceutical market is in the 2nd position in terms of top 10 pharmaceutical markets in MENA countries (Middle East and North Africa) with values of USD 4 billion (IMS data).