Cairo – Mubasher: Egypt’s Minister of Public Business Sector, Mahmoud Esmat, has approved the Holding Company for Pharmaceuticals' (HoldiPharma) budget for fiscal year (FY) 2022/2023, according to an official statement on Wednesday.
In its consolidated budget for FY22/23, HoldiPharma aims to record total revenues of EGP 7.50 billion, a growth of 34% when compared to FY20/21. In addition, it targets higher annual net profits and exports by 70% to EGP 642.30 million and by 34.70% to EGP 466 million, respectively.
The approval was made during the company’s recently-held general assembly meeting, which was chaired by the minister and attended by senior officials.
Moreover, the general assembly agreed to sign an EGP 870 million loan guarantee contract from local banks to finance the development and Good Manufacturing Practice (GMP) operations in the company's subsidiaries.
