The Alexandria Company for Pharmaceuticals and Chemical Industries (Alex Co Pharma), a subsidiary of HoldiPharma, has contracted to buy two face masks production lines, an official company source has said.
The new step would create a breakthrough in face mask production in the Egyptian market. The company has also started to provide high quality ethyl alcohol in different container sizes to cover local market needs, the source added.
In a related context, the source added that Alex Co Pharma is looking to launch four new products during fiscal year (FY) 2020/21, including Panadol Cold & Flu Vapor.
The company had launched three new products during FY 2019/20, in addition to its registering three other drugs.
Alex Co Pharma also announced its business results, reporting that it has achieved a significant EGP 195m increase in revenues during FY 2019/20, reaching EGP 1bn.
This reflects a growth of 23.5% during the previous fiscal year, supported by an increase in the volume of local sales and exports. The company also achieved an increase in production of EGP 211.4m, representing a growth rate of 26.3% compared to the previous fiscal year.
Alex Co Pharma aims to pump more than EGP 200m during FY 2020/21 in the form of direct investments. This is aimed at both increasing its share in Egypt’s pharmaceutical and medical supplies market, and to open new export markets.