SPIMACO concludes, renews agreement with MSD to license and market pharmaceutical preparations with for 135 mln

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) announced on Tuesday contract sign-off with MSD, signature and renewal license, Supply & Co- Marketing agreement with MSD for two second-brands products 3 SKUs used in the treatment of non-insulin-dependent type-2 diabetes, stating that SPIMACO ADDWAEIAH is the owner of the market authorization holder and the trade- mark of these second brands products in KSA which are registered in Saudi Food & Drug Administration.
Total estimated revenues for this agreement of the second brand’s products are nearly SR135 mln during the years 2023-2024, manufactured partially in the Qassim facility.
This agreement will strengthen the leading position of SPIMACO in the local market, moreover improving the localization percentage of the pharmaceutical industry in KSA to achieve one of the vision 2030 objectives and NTP in health and industry sectors depending on local manufacturing, especially in knowledge-based industries via a collaborative partnership opportunity searching of innovative products.
This agreement is valid for 2 years, and the financial impact will affect positively future company results.