SPIMACO inks sale, distribution contract for SAR 164.1M annually

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) signed on Jan. 16 a five-year contract with Ibrahim bin Muhammad Al Hadithi International Co. for the sale and distribution of a number of medical products.

In a statement on Tadawul, SPIMACO noted the annual value of the contract at SAR 164.1 million. The agreement includes products such as Fevadol and an anti-allergy medicine.

The financial impact will reflect starting 2025, the statement said.