Egypt’s EPICO plans to inject EGP 800 mln investments in ’24

Egyptian International Pharmaceutical Industries (EIPICO) plans to invest over 800 million Egyptian pounds in 2024 and targets more than 6.5 billion pounds in revenues this year, according to its statement sent to EGX on Sunday.

“We are confident that our strategic initiatives and unwavering commitment to quality will propel us beyond this goal, solidifying our position as a leading force in the industry,” said chairman and managing director of EIPICO Ahmed Kelani.

The company has exceeded its sales targets, with total sales exceeding five billion Egyptian Pounds, demonstrating exceptional performance, particularly in exports, the statement added.

Preliminary figures indicate that EIPICO has achieved export revenues of about $54 million, representing 26 per cent of Egypt’s total exports and approximately 30 per cent of Egyptian pharmaceutical exports to Africa.

EIPICO operates two factories covering 120,000 square metres, including 9 sterile areas, making it the largest and most advanced in Egypt and the MENA region. It is also the first centre for biotechnology and genetic engineering research for the manufacture of biological supplies.