1999 News Story

SPIMACO's Annual Report Shows Company's Success

The Saudi Pharmaceutical Industries and Medical Appliances Company (SPIMACO) reports 1998 sales worth SR 403 million (U.S. $ 107.47 million), an increase of 13 percent over the previous year. During 1998, SPIMACO patented 22 products, five of which are being licensed by international companies. About 20 more products are currently being developed. In 1998 SPIMACO exported 81 products to Algeria, Jordan, and the countries of the Gulf Cooperation Council.