EIPICO, kambal International to establish plant in Sudan

ArabFinance: Egyptian International Pharmaceutical Industries Company (EIPICO) (PHAR) signed with kambal International to establish a pharmaceutical plant in Sudan with investments of $30 million, according to EIPICOs statement released on April 21^st.

Each company paid $9 million from the investment value, the statement highlighted.

Its expected to construct the plant during two years, as EIPICO has finalized the necessary studies to establish the plant, EIPICOs chairman said.

The listed company will distribute annual cash dividends of EGP 2.95160 per share on April 28^th.

The companys consolidated net profit reached EGP 487.4 million in 2020.

EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international pharmaceutical companies to produce their products locally and replace the imported ones.