State Trading Organization (STO) has stated that the company’s partnership with Germany’s Merck Private Limited will revolutionize the sector.
Speaking in a press conference today, STO Medical General Manager Hussain Sabah said that the agreement with Merck was signed six months ago. Under the agreement, Merck and STO will collaborate to supply the health sector with required resources. Sabah added that with the agreement, work had already begun on the endeavor and will result in drastic changes to the sector and STO.
Sabah added that an agreement of this nature facilitate learning and training opportunities in addition to resource and goods provision. Speaking to Miadhu, Sabah said that STO had opened 186 pharmacies in the whole of the Maldives. He added that a partnership with Merck will facilitate lower running costs and resultant lower prices for the public.
Sabah said that there were some difficulties in obtaining registration from FDA, under a third party sale. He added that an agreement with the direct supplier will eliminate this issue. He noted that it takes an average of three months to register a medication with FDA.
Sabah noted that medication for diabetes, cardiovascular diseases and cancer, will be imported directly from Merck.
“It is a key aim of the company to provide easy access to cancer medication when the Government introduces cancer treatment facilities,” he said.
Merck representative said that the company had been in the pharmaceutical business for over 350 years and is one of the most reputed businesses in the field.
Merck produces essential vitamins and blood pressure medication. The company has branches in 60 countries, employing around 50 thousand employees and generating US $11.3 billion annually.
STO currently imports some of the products of the company.
STO, Merck partnership will revolutionize health sector: STO
