Saudi pharma SPIMACO secures $335m financing to drive growth

RIYADH: Saudi Pharmaceutical Industries and Medical Appliances Corp. has secured SR1.26 billion ($335 million) worth of Shariah-compliant financing to grow the business. 

Better known as SPIMACO Addwaieh, the firm obtained the facilities in the form of short-term loans to finance working capital needs, long-term loans for expansions and investments, and treasury facilities, according to a bourse filing.