Egypt's GYPTO Pharma inks EGP 4 bln agreement to produce medicine in Saudi Arabia

Ahram Online , Monday 23 Oct 2023

Egyptian medical city GYPTO Pharma and a group of local companies on Monday signed EGP 4 billion ($129.44 million) worth of contracts with Saudi Arabian Med City Pharma company to transfer drug manufacturing technology and production to the kingdom.

File Photo: The signing ceremony.
File Photo: The signing ceremony.


The deal includes producing some of GYPTO Pharma's drug brands in Med City's factories in Saudi Arabia,  Amr Mamdouh, Chairman of GYPTO Pharma, said in a statement.

Mamdouh added that the agreement also includes registering some Egyptian drug brands in the kingdom, paving the way for more mutual cooperation.

It is worth noting that the deal was signed on the sidelines of the Supply Chain And Logistics Conference 2023 which is held on 22-23 October in Riyadh.

Opened in 2021, the city of medicine GYPTO Pharma is a specialized hub in manufacturing various medicines and vaccines, occupying an area of a total of 180,000 square meters in Khankah, Qalyubiyah north of Cairo.

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

Short link: