The Holding Company for Pharmaceuticals (HoldiPharma) has, in its consolidated budget for fiscal year (FY) 2020/21, set revenues target of EGP 21.1bn. The company’s target reflects a growth rate of 34.6%, compared to the actual revenues achieved in FY 2018/19.
HoldiPharma has also set a net profit target of about EGP 1bn, an increase of 186.7% over FY 2018/19.
According to the draft budget for FY 2020/21, the total target revenues for the holding company as an independent economic unit amount to EGP 423m, a growth rate of 32.6% over FY 2018/19 budget. The target net profit stands at EGP 239m, a growth rate of 71% over FY 2018/19. The Ministry of Finance’s share stands at about EGP 45m.
As for the indicators of subsidiary companies, the value of targeted activity revenues amounted to EGP 23.1bn for FY 2020/21, a growth rate of 36%. The value of exports amounted to EGP 508m, a 54.4% increase over FY 2018/19, and a net profit of about EGP 1.044bn, a growth rate of 172.5% compared to FY 2018/19. The targeted investments in subsidiary companies amount to EGP 554.9m.
Minister of Public Enterprises Sector Hisham Tawfik said that HoldiPharma’s technical evaluation of its pharmaceutical factories has been undertaken by a specialised consultant. The evaluation would see the production lines at the factories qualify to comply with GMP requirements, at a cost of up to EGP 1.7bn.
Whilst chairing the HoldiPharma General Assembly meeting, Tawfik directed for a complete plan to be completed regarding the Nasr Pharmaceutical Chemicals Company. The plan for the company, which is affiliated to HoldiPharma, will be implemented within two weeks, and will see the continued expansion of medical preparations and supplies production to confront the novel coronavirus (COVID-19) pandemic.
HoldiPharma Chairperson Ahmed Hegazy reviewed the Board of Directors’ report, which included the technical evaluation of production lines as part of the work to comply with the requirements of good manufacturing. The evaluation also reviewed work on the production and registration of new preparations, and good management of available human and material resources.