Egypt’s Holdipharma reports 18% revenue growth
Egypt’s Holding Company for Pharmaceuticals (Holdipharma) recorded revenue of 7.8 billion Egyptian pounds in FY 2023-2024 , reflecting an 18 per cent increase from the previous year, according to its latest financial results. Moreover, net profit rose by 37 per cent to 777 million Egyptian pounds, while exports reached 650 million Egyptian pounds.
These figures were presented in a board report by Ashraf ElKhouly, Executive Managing Director of Holdipharma, during a General Assembly meeting chaired by Minister of Public Enterprise Sector Mohamed Shimi.
In addition to financial performance, the meeting also reviewed the company’s progress on development projects, particularly its investments of 1.8 billion Egyptian pounds in subsidiary companies to align with good manufacturing practice (GMP) standards.
Notably, the first phase of GMP compliance projects has been completed, with 82 production lines upgraded to meet regulatory requirements. So far, 42 lines have obtained GMP certification from the Egyptian Drug Authority (EDA). Furthermore, the upgrades included enhancements to production machinery, manufacturing areas, water treatment stations, air conditioning systems, and raw material storage facilities, ensuring improved operational efficiency.
At the same time, ongoing projects were reviewed, focusing on the development of production lines for tablets, capsules, syrups, eye drops, ampoules, ointments, and intravenous solutions. As part of its expansion strategy, the company is also increasing its production capacity and adding new production lines across subsidiaries, including Cairo Pharmaceuticals, Alexandria Pharmaceuticals, Arab Pharmaceuticals, Nile Pharmaceuticals, Memphis Pharmaceuticals, Chemical Industries Development (CID), Nasr Pharmaceutical Chemicals, and Misr Pharmaceutical Industries. Additionally, the performance of the pharmaceutical packaging company was assessed to enhance efficiency and competitiveness.
The General Assembly also discussed partnership projects, such as a dialysis filter manufacturing plant, as well as investment opportunities in biological drugs, insulin, biosimilars, dry powder inhaler tablets, hormone production, and active pharmaceutical ingredient (API) manufacturing. These initiatives reflect Holdipharma’s commitment to innovation, growth, and adherence to international quality standards.
Attribution: Amwal Al Ghad English
Subediting: M. S. Salama