Future Pharmaceutical eyes $13 mln sales in Egypt by end-2016

Egypt-based Future Pharmaceutical Industries company (FPI) targets boosting its sales volume in 2016 by 50% to hit around 120 million Egyptian pounds (US$13.5 million) at the end of 2016.

FPI’s Plant Manager Mohamed Mubarak stated Monday that the company attained sales of 80 million pounds in 2015. The company is currently expanding its investments to establish two new production lines that are set to start operation next October with cost estimated at around 45 million pounds, the official stated.

He clarified that the total capacity of the company is estimated at around 120 million pounds annually.

In 2013, FPI launched new factory on the space of 23,000 meters with investments worth around 150 million pounds to produce solid dosages, i.e. tablets and capsules, Mubarak said.