The new cancer drug plant of Egypt’s Holding Company for Biological Products and Vaccines, VACSERA is set to lower the cost of cancer drugs to 500 Egyptian pounds.
VACSERA Chairperson Olfat Ghorab stated Monday that the new plant is set to be established in cooperation with Pharco Pharmaceutical company and Egyptian National Organization for Military Production (NOMP).
The new factory is set to be built at VACSERA’s industrial complex in 6th of October city with total investment cost of 400 million Egyptian pounds (US$45 million).
The chairman made these remarks during the ceremony of signing a cooperation protocol between public and private sectors to establish first plant to produce cancer drugs in Egypt.
Singing the protocol was witnessed by state’s Health Minister Ahmed Emad and Mohamed El-Assar, state’s Minister of Military Production.
Ghorab stated that the cost of cancer drugs ranges between 30,000-70,000 pounds, representing a heavy cost to the Egyptian patient.
The chairperson pointed out that the new factory would make use of company’s scientific expertise in addition to providing more job opportunities.
The production capacity of the new factory is expected to cover local market’s needs while the surplus would be exported, official Ghorab added.
On other side, Minister Emad stated that the new factory would be established on the space of 61,000 square meters to produce 100 different pharmaceutical products.