SPIMACO sets up subsidiary to manufacture biopharma products

SPIMACO establishes SPIMACO Bio to expand into biological, gene, and cell therapy segments

Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) established a new subsidiary, SPIMACO Bio, as part of its strategic plans to expand into high value-added pharmaceutical sectors, including biological, gene, and cell therapies.

This step is in line with SPIMACO’s strategy to strengthen its presence in the biopharmaceutical industry through portfolio diversification and sustainable business growth, according to a Tadawul statement.

The move also supports national objectives by contributing to the localization of advanced pharmaceutical industries, facilitating the transfer of state-of-the-art knowledge and technologies to the Kingdom, and enhancing local content within this vital sector.

There is no material financial impact resulting from the establishment of the subsidiary at this stage. Any material financial impact, if any, will be disclosed in the future.

SPIMACO Bio will commence its operations after completing all required regulatory requirements and obtaining the necessary approvals from the authorities.