By: Eslam Fadl
Cairo – Mubasher: Gulf Pharmaceutical Industries (Julphar) has decided to put off the establishment of its factory in Egypt.
The Ras Al Khaimah-based pharmaceutical firm has delayed the construction of its factory in the North African country until it registers 80% of its pharmaceutical products in the Egyptian health ministry, the general manager of Julphar Egypt told Mubasher.
The company has more than 300 medicines of which only 21 were registered in Egypt, Magdy Al-Saaty highlighted.
Julphar seeks to build a drug factory in the most populous Arab country with AED 250 million (EGP 1.2 billion) in investments.
The factory will be spanning 10,000 square metres land plot in Badr Industrial city.
Al-Saaty revealed that Julphar’s sales reached EGP 400 million since the beginning of the year, with a 17% year-on-year growth.
He added the company aims to boost sales by 16% in 2019.
The company is planning to produce four new products next year, he stressed.
Translated by: Mai Ezz El-Din
