Egypt's state-owned Holding Company for Pharmaceuticals, local private pharma trading and distribution company Pharmaceutical Egyptian Association (PEA) and India's Syschem have signed a tripartite memorandum of understanding (MoU) to set up a project to manufacture active pharmaceutical ingredients (API) in the country

Listed on India's Bombay Stock Exchange, Syschem is engaged in the manufacture of active APIs/intermediaries and generic products, according to its website.
 
The MoU seeks to develop local production capacities in APIs and pharmaceutical raw materials through a tripartite joint venture, which will be set up after the completion of a feasibility study in two months, the ministry said in an Arabic-language press statement.
 
The project will include the production of a group of active substances for antibiotics for the first time in the Middle East, the application of Good Manufacturing Practice (GMP) standards, and the expansion of the production of active substances for metformin, paracetamol, colchicine and acetylsalicylic acid in El Nasr Pharmaceutical Chemicals Company, a subsidiary of the Holding Company for Pharmaceuticals.
 
Under the MoU, the Indian company will provide technical expertise, marketing and sales services for the project, which will cater to local and foreign markets.
 
The MoU was signed remotely by Dr Ashraf El-Khouly, Executive Managing Director of the Holding Company for Pharmaceuticals, Dr Hani William, Chairman and Managing Director of the Pharmaceutical Egyptian Association, and  R K Dhir, Managing Director of Syschem.
 
(Writing by Eman Hamed; Editing by Anoop Menon)
 
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