Riyadh - Mubasher: The Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO) has signed a non-binding memorandum of understanding (MoU) with Germany’s CureVac biopharmaceutical company to provide the COVID-19 vaccine in Saudi Arabia.

SPIMACO will apply for approvals to obtain all regulatory requirements for the vaccine registration, supply, and distribution from the Ministry of Health and the Food and Drug Authority, according to a bourse filing on Sunday.

The MOU includes the possibility of extending the supply and distribution rights later to include the UAE, Kuwait, Bahrain, and Oman.

Since the onset of the pandemic, SPIMACO has worked to preserve and maintain drug production capacity to cover the increasing demand in the local market.

During the first nine months of 2020, the company managed to produce more than 1.3 billion treatment units.