EIPICO to establish project

New project to a produce vital drugs

ArabFinance: The Egyptian International Pharmaceutical Industries Company (EIPICO) (PHAR) has intended to establish a new project to a produce vital drugs with total cost EGP 1.2 billion, according to the company’s October 18thstatement filed to the Egyptian Exchange.

EIPICO has not determined the financing method of the project, however, it received many bank proposals for financing which are under examination.

The company posted a consolidated net profit of EGP 262.201 million in the first half (H1) of 2020, a 34% decrease from EGP 398.350 million achieved in H1 2019.

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.

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