ArabFinance: The Egyptian International Pharmaceutical Industries Company (EIPICO) announced that its board of directors has endorsed the feasibility study on the establishment of an Egyptian joint stock company for the production of pharmaceutical materials, according to a statement filed to the Egyptian Exchange (EGX).
This move aims at paving the way for taking the necessary legal procedures in setting up the company.
The new company will be established in the Suez Canal Economic zone (SCZone) with an issued capital of EGP 1 billion and paid-up capital of EGP 400 million.
EIPICO’s share in the new company will be 25%.
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.
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