Saudi Pharmaceutical Industries and Medical Appliances Corporation agreed to acquire 68% stake in Osmopharm SA for SAR 16.1million.

Saudi Pharmaceutical Industries and Medical Appliances Corporation SJSC (SPIMACO) is a Saudi Arabia-based company engaged in the pharmaceutical industry sector. The Company is organized, together with its subsidiaries, into two business segments: the Medical and pharmaceutical production segment focuses on the manufacture, production, development and marketing of pharmaceutical raw materials and medical appliances, as well as the production of consumables medical appliances, and the Investment segment is engaged in investing activity in associates and investment in securities. The Company’s product pipeline includes tablets, capsules, dry powder for suspension, syrups and suspensions, injections, creams, ointments and gels, suppositories, mouthwash and antiseptic products. The Company’s manufacturing facility is located at Qassim Industrial City, about 320 kilometers north-west of Riyadh.