State Trading Organization (STO) introduces products of one of the leading pharmaceutical companies in the world, AstraZeneca.
AstraZeneca product line launch in the Maldives was officiated by the Minister of State for Health Ahmed Adil at a ceremony held in Kurumba Maldives. The event was attended by STO Managing Director Abdulla Saeed, the Business Manager of AstraZeneca Abhishek Kaushik along with prominent figures in the Maldivian pharmaceutical scene.
Under an exclusive distributorship agreement with AstraZeneca, STO, the largest state-owned enterprise (SOE), also the largest and leading medical supplier in the Maldives will be providing the United Kingdom-based AstraZeneca’s products in the Maldivian market at affordable prices.
The exclusive distributorship agreement also allows STO to sell medication or other pharmaceutical products of AstraZeneca at cheaper rates. The agreement enhances STO to directly purchase medication from AstraZeneca without the involvement of third-party suppliers, thus ensuring medication remains cheaper than market alternatives.
Moreover, the bulk purchase agreement signed by STO with Ministry of Finance earlier in June 2023 further enhances the corporation to acquire large shipments of medicine needed for Maldivian consumers at controlled rates.
The agreement also extends Aasandha coverage for 14 distinct medications from AstraZeneca which include medication for severe or chronic ailments including cancer, gastritis, and hypoglycemia among others.