Middle East Pharmaceuticals to open $102mln-Factory late 2015

Middle East Pharmaceuticals intends to launch new factory with investment cost of EGP 800 million (US$ 102.2million) at the end of 2015, Owner and General Manager Mohamed Ghoneim said Monday.

The new factory to be established in the industrial zone in Obour City, Ghoneim told Amwal Al Ghad.

The factory will be constructed on the space of 5.200 meters and set to produce tablets, capsules, syrups, creams, balsams and antibiotics, Ghoneim clarified.

The capacity of the new factory will reach 20 million packages annually, he noted, clarifying that the firm has finished the construction works and installing the machines to finish carrying out the factory on the determined time.

The General Manager said that Middle East Pharmaceuticals targets attaining sales volume of EGP 50 million within the first year of the production.

Moreover, Ghoneim added that the company is currently registering around 80 new pharmaceuticals at the Egyptian Health Ministry by which it will have 100 pharmaceuticals in the Egyptian market.