Tuesday, 16 July 2024

Spimaco Pharmaceutical announces completion of strategic plans review and launch of renewed five-year strategy


Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) announced on Monday the completion of an internal strategic review and commencement of a revamped 5-year strategy.

This comprehensive strategy will focus on recalibrating the Company for the future, capitalize on long-term opportunities offered by the market and generate long-term, and sustainable value for its shareholders and other stakeholders.

Initial steps to recalibrate the business for future growth have been taken, including increased control and oversight on the value chain, upgraded research & development division, streamlined operations, rollout of the “Synergy Program with the deployment of a new organizational structure and revised incentive schemes.

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Prime initiatives to “fix the core” have necessitated incremental investment and costs which weigh on profitability in 2022.

Full details of the revamped strategy will be communicated to the market during a Capital Markets Day to be held on 7 February 2023.