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Saudi Pharma Climbs to Five-Year High on Covid Pact With CureVac

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Saudi Pharmaceutical Industries & Medical Appliances Corp. surged to the highest level in more than five years after signing a pact to supply CureVac NV’s coronavirus vaccine in the kingdom.

The shares closed 5.5% higher in Riyadh, taking the gain for the year to 58%. The benchmark Tadawul index rose 0.2%.