GYPTO Pharma partners with Abbott to produce 155 mln drug packages over 5 years

Ahram Online , Monday 3 Jun 2024

Egyptian medical city GYPTO Pharma signed a strategic partnership contract with the US pharmaceutical giant Abbott to manufacture six types of palliative and antibiotic medications, with a production capacity of 155 million packages over five years.

GYPTO

 

The move aims to expand local drug production and offer drugs that meet international standards at affordable prices for Egyptian citizens, according to a statement by the Egyptian Ministry of Health and Population.

The city will be using around nine percent of its production capacity to produce the targeted quantity, said Minister of Health and Population Khaled Abdel-Ghaffar during the signing ceremony.

GYPTO Pharma “will have a prominent role in building the confidence of foreign investors, cooperating in operating new pharmaceutical lines, and working to achieve self-sufficiency in medicine,” the statement quoted Abdel-Ghaffar as saying.

He added that Egypt possesses technical, human, and funding capabilities that qualify it to be a leading hub for pharmaceutical industries and exports to African, East Asian, and European countries.

Chairman of GYPTO Pharma Amr Mamdouh said the city currently cooperates with seven leading pharmaceutical companies and targets producing 95 new pharmaceutical products by the end of 2024.

GYPTO Pharma, opened in 2021, is a specialized hub in manufacturing various medicines and vaccines, occupying an area of 180,000 square metres in Khankah, Qalyubiya north of Cairo.

In 2023, Egypt's pharmaceutical market ranked first in the Middle East and North Africa (MENA) region, with a $56.6 billion market value.

The city’s production capacity reached 26 million drug packages in 2023, and it targets 60 million packages in 2024.

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