(MENAFN)According to Mohammed Al-Nahhas, chairman of Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), Saudi Arabia has over 40 registered pharmaceutical factories, covering 36 percent of the local market need for medicines.
He further declared in the visit of the Minister of Industry and Mineral Resources, Bandar Al-Khorayef to the company that the Kingdom’s pharmaceutical sector exports over SR1.5 billion yearly and is expected to increase at 5 percent a year.
CEO Khaled Al-Khattaf indicated that SPIMACO produces 415 pharmaceutical products, and exports over 234 products to 14 countries.
He also declared that the company’s production stood at over 1.73 billion therapeutic units through 36 production lines in the previous year. Over 50 new drugs under license will be produced in SPIMACO pharmaceutical factories and its subsidiaries
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