Egypt’s GYPTO Pharma inks EGP 4bln deal to produce medicine in KSA

Egypt’s medical city GYPTO Pharma and a group of local companies on Monday signed four billion Egyptian pounds contracts with Saudi Arabian Med City Pharma company to transfer drug manufacturing technology and production to the kingdom.

The agreement will include registering some Egyptian drug brands in the kingdom, paving the way for more mutual cooperation, Amr Mamdouh, Chairman of GYPTO Pharma, said at the fifth edition of the Supply Chain and Logistics Services conference 2023.

Egypt’s pharmaceutical market ranked first in the Middle East and North Africa (MENA) region in 2023, with a $56.6 billion market value, according to figures reported by General Manager at Informa Markets Hany Khafagy.