https://arab.news/6em8q
JEDDAH: Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) moved to liquidate ANORA Trading Co., and appointed a liquidator, the company announced in a filing.
SPIMACO issued the resolution on Nov. 17.
ANORA is a limited company, with a paid up capital of SR300,000 ($80,000), owned by ARAC Healthcare Co, which is fully-owned by SPIMACO.
SPIMACO is a leading pharma company in the kingdom, producing 12.2 million prescriptions in 2020, 1.7 million more than its nearest competitor, CEO Khaled Al-Khattaf revealed.
The Saudi pharmaceutical market is estimated at SR34 billion, and the Ministry of Industry and Mineral Resources seeks to increase it to achieve drug security as a strategic goal within Vision 2030.