The Nile for Pharmaceuticals and Chemical Industries (Nile Pharma), a public business sector company, announced that its profits decreased by 21.4% in the first quarter of the year.
The company said in a press statement on Tuesday that it achieved profits of EGP 5.5m during the first three months of this year compared to EGP 7m in the same period of last year. The company’s total profits in last year recorded EGP 23m.
Nile Pharma, a subsidiary of the Drug Holding Company (HoldiPharma), operates mainly in the manufacture and trade of medicines, various medical materials, chemical products, cosmetics, surgical threads, medical solutions and baby food.
The state-run pharmaceutical companies, affiliated to the Holding Company, achieved total sales of EGP 380.8m in the second quarter of the year, recording relative growth rates in all companies except Memphis Company.
According to IMS Health’s report, the subsidiaries of the Holding Company’s market share reached 3.3% of the total pharmaceutical market.
The Kahira Pharmaceuticals and Chemical Industries Company topped the list of best selling state-run pharmaceutical companies recording EGP 87.4m during the aforementioned period with a growth rate of 104.2% compared to the same period of last year.
Chemical Industries development Company (SID) ranked the second with sales of EGP 55.6m and 41.8% growth compared to the same period in last year. It was followed by Alexandria Company for Pharmaceuticals and Chemical Industries, and El Arabeya Company for Pharmaceutical and Chemical Industries.
Arab drug company for Pharmaceuticals and Chemical Industries came third in the best-selling government pharmaceutical companies with a sales volume of EGP 52.6m and a growth rate of 48%. The company’s sales in June only amounted to EGP 15m.
Nile Pharma occupied the fourth place with sales of EGP 49.9m and a growth rate of 32.2%.