The Egyptian Holding Company for Pharmaceuticals (HoldiPharma)'s head announced Saturday that affiliates reported 9% increase in revenues to EGP 2.5 billion (US$349.2 million) for the first quarter of current fiscal year. According to chairman Adel Abdel Halim, HoldiPharma's affiliates posted revenues amounting to EGP 2.3 billion during first quarter of last fiscal year of 2013/2014. During his meeting with the Egyptian Investment Minister Ashraf Salman, HoldiPharma's chairman referred to ongoing upgrading of two divisions at affiliate, the Nile Co. for Pharmaceuticals & Chemical Industries. With the aim of enhancing the company's performance, Nile's two divisions will inaugurated next March, he added. The meeting aimed at tracking the performance of HoldiPharma and its affiliates for the first quarter of fiscal year 2014/2015. Holdipharma is an Egyptian pharmaceutical company established in 1934 by the pharmacist Mohamed Hegazy, who created a company Hegazy Drug, which is the first facility pharmaceutical Egypt are created on the standard specifications after several attempts to build labs pharmacy specializing in Egypt at the time was controlled in the pharmaceutical market in full followed by foreign companies , after it was merged with the coefficient of Hijazi Nile Company for Pharmaceuticals ", and one of the subsidiaries of the Holding Company for Pharmaceuticals.
