MedColl signs €7m distribution deals in Middle East

Irish biotechnology company MedColl has secured a €5 million contract to supply its anti-ageing and skincare supplements into pharmacy chains across the United Arab Emirates.

The Mullingar-based firm has also signed two further deals worth €2 million to distribute its products in Iraq and Lebanon.

The deals follow on from a €1 million distribution deal signed by the company with Il Ittihad Drugs in the UAE last year, according to MedColl founder Roz Martin.

She said MedColl was currently supplying about 250 pharmacies across Dubai, Abu Dhabi and other cities in the UAE.

“We are struggling to keep Dubai in stock, and are looking at upping our manufacturing capabilities here.

“We signed a €5 million deal over a three-year period. If they [the supplements] continue to sell at the same rate, that will be exceeded.”

Ms Martin said she was “very surprised” when the Iraqi distributor approached her to supply into cities there.

“It seems very war-torn but some of the cities are actually quite sophisticated. We will be shipping out there in the summer.”