SPIMACO committed to expansion of complex products, focuses on African markets: CEO

Logo of Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO)

Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO) is committed to transformation and growth by leveraging its existing assets and expanding into new products and markets, said CEO Jerome Cabannes.

In an interview with the Pharma Boardroom platform, Cabannes added that the company is focusing on leveraging its current assets while expanding through new partnerships and technologies, as well as diversifying markets.

He stated that the company's relationship with multinational companies contributes to providing a platform for contractual manufacturing, in line with the Kingdom's Vision 2030, which focuses on local content and localization of products, which led to the launch of the first biosimilar drug to be manufactured in Saudi Arabia.

He pointed out that pharmaceutical industry is witnessing a shift from the production of generic drugs to biologic drugs and more complex products, which requires huge investments and expertise.

The CEO explained that the focus on improving operations within the company was through implementing operational excellence practices, which led to an increase in production volumes by more than 10%.

He noted that SPIMACO aims to strengthen its leadership position regionally and expand internationally in the short to medium term, as it focuses on African markets, especially Egypt, Morocco and Algeria, with plans to expand further into French-speaking Africa.

Moreover, the CEO revealed plans to diversify the company's product portfolio to focus on addressing the health problems prevalent in the region, including diseases such as diabetes, vascular diseases, and central nervous system disorders.

The company is also exploring different formulations, including products with immediate dissolution and modification, as well as biologic products for prevention and treatment.

Furthermore, the company seeks to continuously innovate and enrich its portfolio, especially with specialized products that effectively target government markets, in addition to exploring diverse business models to meet the needs of reaching different markets across multiple countries, while adhering to regulations and market timelines, Cabannes stated.