Regarding the company's announcement published on Tadawul website on 4/5/2015 about Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) accepted offer submitted by a US company to acquire its stake in an overseas investment.
On Tuesday evening, 5/5/2015 has reached agreement to sell its entire stake in Eirgen Pharma for Opko at total value of $135 million, while SPIMACO owns $65,433,756 (SAR 245,376,585).
Knowing that is Saudi Pharmaceutical Industries and Medical Appliances Corp (Spimaco) acquired a 48% stake in EirGen Pharma Ltd. In March 2012. SPIMACO will earn SAR 152.4 million, while the relevant financial impact will reflect on SPIMACO's financial results for the second quarter of 2015.
It should be noted that SPIMACO Company is working on the localization of the industry in the Kingdom, where it is currently working on a feasibility study for the establishment of an integrated project within the company's plant in the Qassim region allocated for the production of cancer drugs.
SPIMACO reached to an agreement with the company (EirGen / Buyers) to obtain an exclusive license and supply with priority rights for SPIMACO to choose the product from the EirGen Pharma's products list, Spimaco Addwaieh has the right to adjust the.

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