SPIMACO signs 5-year contract with F. Hoffman to distribute tumor medications

Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) signed on Tuesday a five-year agreement with the Swiss F. Hoffmann-La Roche AG to manufacture, sell, and distribute two new tumor drugs.

Under the agreement, SPIMACO will participate in the local manufacturing of Herceptin and Mabthera – two of the most important medications treating breast cancer.

The agreement can be renewed after five years, and no other parties are involved in the deal, SPIMACO said in a statement to Tadawul, Saudi Arabia’s bourse.

The Saudi pharmaceutical producer expects annual sales of almost SAR 200 million from both drug types.

The company has the right to sell and distribute both drugs inside the kingdom. It expected to offer them to the public during the first half of 2015.