The Egyptian International Pharmaceutical Industries (EIPICO) has signed an agreement with the India-based Reliance Life Science company to produce seven biologic drugs, according to EIPICO Chairperson Ahmed Kilani.
The products include injections such as Erythropoietin, Follitropin, Darbepoetin, Rituximab, Bevacizumab, Adalimumab, and Trastuzumab. EIPICO has already obtained the necessary preliminary approvals to register these drugs under the Egyptian Drug authority (EDA).
The Egyptian company will begin the first stage of production of these medicines, once registration and pricing is completed
EIPICO’s focus is on the production of medicines used in treatment protocols for the novel coronavirus (COVID-19) pandemic. It currently produces seven COVID-19 related medicines, including favipiravir, remdesivir, and paracetamol.
The Egyptian company aims to benefit from the recovery that is currently happening in the local market, off the back of no lockdowns having been implemented during the second wave of COVID-19.
It produces 18% of antibiotics available in the Egyptian market, representing around 22% of total sales.
Sales were hit, however, in 2020 due to the closure of outpatient clinics and lockdowns. With the Egyptian Government not having implemented a lockdown during the second wave of COVID-19, EIPICO plans to capitalise on its solid ground in the antibiotics market and compensate for the 2020 hit caused by the lockdowns.
Meanwhile, the company’s Management expects to increase the prices of 20-25 products in 2021, with three products already having been re-priced during the first 10 days of January.