Logo of Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO)
Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) will hold today, Feb. 7, a virtual capital markets day to outline its revamped five-year strategy, the company said in a statement on Tadawul.
SPIMACO’s strategy focuses on building a national champion in the Saudi pharma industry by capitalizing on the long-term opportunities offered by the market, while aiming at improving the wellbeing of patients and benefiting all groups of the company’s stakeholders in the long term.
The strategy sets ambitious targets to grow revenue by a compound annual growth rate (CAGR) of 13-15% up to 2027 and achieve a 15-17% earnings before interest, taxes, depreciation, and amortization (EBITDA) margin by 2027 through adopting a new, improved business model built around a combination of organic growth, business development and acquisitions.
The firm will focus on developing and acquiring a robust portfolio of innovative products centered around the needs of patients, growing faster than the market to solidify its leadership in Saudi Arabia and become a regional player in key MENA markets, the statement added.
These ambitions will be further fueled by effective product launching, rationalizing infrastructure, building functional synergies, enhancing commercial success, and fostering an aligned and innovative culture within the company.
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