Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO ADDWAIEH) has signed an agreement with VIFOR PHARMA for a period of 8 years. This agreement will strengthen the leading position of SPIMACO in the local market, as well as increasing the percentage of pharmaceutical industry localization in the Kingdom to achieve one of the goals of the Kingdom's Vision 2030 and the National Transformation Program (NTP) by localizing knowledge-based industries, especially the innovative and Biotechnology medicines.

This Agreement comes with SPIMACO's strategic business plan which aims to expand, spread and diversify by entering into domains to achieve the highest levels of health care, to meet the Saudi Market needs and to ensure the continuity of the availability of the medicine to the patient in accordance with international recognized specifications and standards. The value of the agreements will be around SAR 240 million over 8 years (Average Annual Revenues around SAR 30 million).