Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO), the listed Saudi Arabia-based company engaged in the production and marketing of medicines and medical appliances, has acquired a 48% stake in EirGen Pharma Limited, the Ireland-based pharmaceutical company, for a consideration of US$24 million.
SPIMACO is one of the largest pharmaceutical companies in the Middle East and is involved in the development, manufacturing and sale of pharmaceutical products and medical appliances.The acquisition was part of SPIMACO’s growth strategy to expand its investment and services in the pharmaceutical sector. This investment will allow the company to scale up significantly and will help the business accelerate its product development program.
EirGen Pharma is a pharmaceutical company that specializes in the development, registration and manufacture of high potency solid dose products for global markets.
Oaklins' teams in Ireland and Saudi Arabia advised the buyer in this transaction.
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