GlaxoSmithKline Egypt concluded 2023 with significant sales leap, exceeding two billion pounds, a 23% increase over the previous year.

Tuesday 5 Mar 2024

The company's financial performance for 2023 reflected strong results, with sales reaching 2.24 billion Egyptian pounds, a 23% increase over the previous year. Operating profits amounted to 74 million pounds, marking a 157% increase over the previous year. These figures were disclosed through the financial statements announced for the fiscal year 2023 for GlaxoSmithKline Egypt.

GlaxoSmithKline logo seen on a board in front of the Company's Headquarters.


Engineer Hassan Fahmi  the General Manager of GSK  Egypt, explained that these results reflect the company's continued  progress since separating from the consumer healthcare sector. The company now focuses on pharmaceuticals by producing globally innovative medicines with the latest technologies across various therapeutic areas ias part of its strategic transformation. Additionally, the GSK egypt  has significantly improved its operational and digital capabilities, alongside successful internal policies that have reallocated resources to enhance operational efficiency and reduce  expenses and streamline operations. This is in addition to its external policy, focusing on raising health awareness among citizens during 2023.

Fahmi also mentioned signing memorandums of understanding with the Ministry of Health and Population to raise awareness about the importance of vaccinations, proper antibiotic use, and the link  between smoking  and COPD. Furthermore, a memorandum of understanding was signed with the Egyptian Drug Authority that including training programs for government employees and community pharmacists in several governorates in Egypt.

As a global leader in healthcare, GSK aims to improve people's quality of life by protecting them from life-threatening diseases and enhancing prevention. The company's extensive product portfolio includes numerous innovative drugs produced locally to meet the needs of the Egyptian pharmaceutical market in line with the national objective of localization of pharmaceutical manufacturing. This is in addition to its focus on Egyptian citizens' health and their right to access the most effective medicines manufactured  using the latest technologies. Furthermore Fahmi expressed aspirations for further progress and success in 2024.

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