Global Pharma To Open EGP100 mln New Factory By 2014

Global Pharma Company will open a new factory in Bani Sweif’s industrial zone by the end of year, at a capital of EGP 100 million.

Dr Adel Abdel Maksood, Board Chairman of Global Pharma Co, said the new factory is on an area of 7000 square meters, as the construction processes finished; referring that the company will import thousands of equipments and machines necessary for the factory.

He added to “Amwal Al Ghad” that the factory’s medicine portfolio takes in a larger number of different kinds that range from 20 to 50. The priorities will be given to the most-used kinds; like diabetes medicines, and hepatitis. About 15 kinds of medicines have been registered so far in the Ministry of Health.

He has elaborated that importing the operation’s materials and production’s components is hard at the current time owing to declining the cash reserve, which led the Central Bank of Egypt to set priorities for import. Both food and petroleum top these priorities, leading to deadening the share of the rest commodities such as medicines.

Abdel Maksood has warned of the irregularity of labor and the ongoing demands of the strikers which may be a difficult challenge for the investor; calling for setting laws and disciplines organize the relation between the workers and business owners. He added that restoring the security will positively reflect on economy as well as the local and foreign investment.