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Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO ADDWAEIH) announces the latest development regarding the signing of a memorandum of understanding with the Swiss company Hoffmann-La Roche

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Introduction The Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO ADDWAEIH) announces to the shareholders that on Wednesday on 16/09/1442H corresponding to 28/04/2021AD via modern technology means, a final agreement was signed with Hoffmann-La Roche Switzerland for the localization and manufacturing technology transfer of its immunosuppressive drug used to prevent the body from rejecting new organs after organ transplantation, especially after kidney, heart and liver transplantation. This final agreement is considered the result of the previous memorandum of understanding between the two companies, which was announced on 12/04/2018.

This Agreement will strengthen the leading position of "SPIMACO ADDWAEIH" in the local market, as well as raise the percentage of localization of the pharmaceutical industry in the Kingdom to achieve one of the goals of the Kingdom's Vision 2030 and the National Transformation Program in the health and industry sector by relying on local manufacturing, especially in specific, knowledge-based industries.

This agreement is considered an important development in the existing strategic alliance between SPIMACO ADDWAEIH and the Swiss company Roche in the field of high-tech medicines. It will contribute to the localization and transfer of the latest technologies to SPIMACO ADDWAEIH plant in Al-Qassim, and the required training at the highest levels for its national cadres as well as upgrading the medicine industry. Due to its importance in achieving public health and national drug security, this agreement comes within the strategic plan of the Company that aims to expand, spread and diversify by entering into new areas in order to achieve the highest levels of health care and meet the needs of the Saudi market and ensure the continuity of availability of medicine to the patient in accordance with internationally recognized specifications and standards.

It is worth noting that, according to the Agreement, it is considered the first complete localization in the Kingdom of this type of advanced drugs (immunosuppressants used for transplant patients). Plus, the Product under this Agreement is the world leader in the aforementioned category.

Previous Announcement Saudi Pharmaceutical Industries and Medical Appliances Corporation announces the signing of a memorandum of understanding with the Swiss company Hoffmann-La Roche
Date of Previous Announcement on Tadawul's Website 2018-04-12 Corresponding to 1439-07-26
Percentage of fulfilled achievement Not applicable
Event's Expected Completion Date Not applicable
Reasons for Exceeding the Announced End Date Not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable
Impact of the Delay on the Company's Financial Results Not applicable

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