Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO ADDWAIEH) announces signing a Contract with MSD International, for Supply & Co- Marketing two second-brands products 3 SKUs used in the treatment of non-insulin dependant type-2 diabetes
| Element List | Explanation |
|---|---|
| Introduction | Saudi Pharmaceutical Industries and Medical Appliances Corp. Announce Contract Sign Off with MSD, Signature and renewal License, Supply & Co- Marketing agreement with MSD for two second-brands products 3 SKUs used in the treatment of non-insulin dependant type-2 diabetes, stating that SPIMACO ADDWAEIAH is the owner of the market authorization holder and the trade- mark of these second brands products in KSA which are registered in Saudi Food & Drug Administration.
Total estimated revenues for this agreement of the second brand’s products are nearly SR135 Mn during the years 2023-2024, manufactured partially in the Qassim facility.
This agreement will strengthen the leading position of SPIMACO in the local market, moreover improving the localization percentage of the pharmaceutical industry in KSA to achieve one of the vision 2030 objectives and NTP in health and industry sectors depending on local manufacturing, especially in knowledge-based industries via a collaborative partnership opportunity searching of innovative products.
This agreement valid for 2 years, the financial impact will affect positively on the future company results. |
| Date of Announcement of the Award | 2022-09-19 Corresponding to 1444-02-23 |
| Contract Subject Matter | Signature and renewal of License, Supply & Co-Marketing agreement with MSD |
| Date of Signing the Contract | 2022-09-19 Corresponding to 1444-02-23 |
| Contract Value | Nearly SR135 Mn during year 2023-2024 |
| Contract Details | Signature and renewal License, Supply & Co-Marketing agreement with MSD for 2-second brands products 3 SKUs used in treatment of non-insulin dependent type-2 diabetes |
| Contract Duration | Two years |
| Financial Impact and the Relevant Period | Nearly SR135 Mn during year 2023-2024 |
| Related Parties | There are no related parties |
| Additional Information | SPIMACO ADDWAEIAH is the owner of the market authorization holder and the trademark of these second brands products in KSA |
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