Egypt drugmaker Pharco’s Africa exports likely to rise 37% in 2019

Egypt’s Pharco Pharmaceuticals targets a 37 percent growth in its exports to the African markets to reach $11 million in 2019 from $8 million in 2018, said a senior official in the firm on Saturday.

“The African markets captured 26 percent share of the firm’s exports last year which reached around $30 million,” Pharco’s Export Business Development Manager Heba Mourad further told Amwal Al Ghad.

Pharco exports its products to around 50 countries worldwide, including 20 African states, Mourad added. The drugmarker seeks to boost its presence in Africa, to export its products to more countries, including South Africa and Zambia within the coming period, she said.

“We currently have 800 products in the Egyptian market, whereby 25 percent of them are exported.” she said.

Moreover, Pharco’s sales increased 24.5 percent to $3.4 billion pounds last year against 2.735 billion pounds a year earlier, Mourad said.

Pharco seized 5.1 percent share of the total sales made by the Egyptian pharmaceutical firms, said a global information and technology services firm IMS Health in a recent report.