Cairo – Mubasher: Ibnsina Pharma signed an agreement with Bayer to import and distribute the latter’s consumer health and pharmaceuticals products in Egypt.
“This strategic partnership will allow Ibnsina Pharma to not only further strengthen its product offering, but will give patients across Egypt unprecedented access to the latest pharmaceutical treatments available” the Chairman Mohsen Mahgoub said in a bourse disclosure on Sunday.
Bayer Pharmaceuticals generated EGP 722 million in sales in 2020 with a target growth of double digit in 2021, while Bayer Consumer Health achieved sales of EGP 401 million last year with a target growth of 30% in 2021, according to IQVIA.
During the first nine months of 2020, the company achieved net profits of EGP 200.6 million, down from EGP 245.6 million in the same period in 2019.
