Egyptian pharma EIPICO eyes EGP 800m investments over 3 years, excluding biosimilar project
Published 13 Jan,2021 via Daily News Egypt - A source has revealed that the Egyptian pharmaceutical company, EIPICO, plans to invest about EGP 800m over the next three years, directed towards re-modelling and renewing the machinery at its facilities. The financing will not be directed to its biosimilar project.
The source added that the company plans to invest around EGP 169m over 2021, directed towards the purchase of new machinery for EIPICO 1 and EIPICO 2, servicing the production and packaging of ointments and pills along with facility renovations.
The company invested around EGP 300m-EGP 340m between 2019 and 2020, which was directed towards upgrading and renovating existing facilities. The investment resulted in an increase of EGP 73m in revenues per annum.
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