Cairo – Mubasher: The Egyptian International Pharmaceutical Industries (EIPICO) is currently studying the working drawings of its biomedicine project, including the design and installation of a facility for manufacturing biological products.
The project is expected to start actual operation by the end of the second quarter (Q2) of 2022, while the full development of biomedicines is forecast to begin by the Q4-22, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
The company targets EGP 605 million in revenue from the project, including EGP 200 million from product sales and EGP 405 million from packaging.
During the first half (H1) of 2020, EIPICO reported net profits of EGP 262.2 million, down from EGP 398.3 million in the same period a year earlier.
