Cairo – Mubasher: The Egyptian International Pharmaceutical Industries (EIPICO) intends to invest EGP 2.2 billion during 2021-2026, including the biologic drugs’ project worth EGP 1.2 billion and other renovation projects.
The Egypt-based firm has obtained the Egyptian Drug Authority’s (EDA) licence for a new cone packaging line in the company’s ointment department with a production capacity of 12 million packs per year, according to a bourse filing on Thursday.
Moreover, it said that its factories have produced 400 drugs between 2019 and 2020, with a production size of 240 million packs and investments of EGP 300 million.
The company further revealed that it commenced procedures to register seven biologic drugs that are produced and manufactured for the first time in Egypt through the EIPICO 3 plant, noting that two Swedish firms will be completing the factory designs soon.
This year, the company gained more than $40 million from exports, 8% higher than the previous year. In addition, it expanded to Serbia and the Philippines.
In the first nine months of 2020, EIPICO logged net profits of EGP 339.46 million, compared with EGP 522.19 million in the prior-year period.
