Egypt’s Memphis Pharmaceuticals takes $4.383mln loan from FAB

The Egyptian company Memphis for Pharmaceutical and Chemical Industries confirms taking a $4,383 million loan from First Abu Dhabi Bank (FAB-Egypt), according to its report sent to the Egyptian Exchange on Sunday.

It is noteworthy that the company achieved a net profit of 90.43 million Egyptian pounds during the fiscal year from July 2022 to June 2023, compared to 74.08 million pounds in the previous fiscal year.

Memphis Pharmaceuticals is one of the oldest operating pharmaceutical companies in Egypt since its incorporation in 1930. It is engaged in the research and development, production, trade, marketing and distribution of pharmaceutical products for human and veterinary use.