"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Pharmaceutical Giant Inaugurates First Plant in Middle East
Published in Daily News Egypt on 14 - 12 - 2006

AstraZeneca CEO believes Egypt has made great strides in industry
A $32-million factory was officially opened Monday in 6th of October city by international pharmaceutical behemoth AstraZeneca, the first plant built by the company in the Middle East.
The plant boasts three production lines over 7000 square meters with an output of 250 million tablets a year, which can later be increased to 400 million. The plant will produce cardiovascular, psychiatric and oncology (cancer) drugs.
In an interview with The Daily Star Egypt, AstraZeneca CEO David Brennan said the climate in Egypt was now conducive for this sort of investment.
"The new Egyptian economic policies have created an excellent climate he said.
Brennan had earlier said in the press conference for the inauguration, with Minister of Health and Population Hatem El-Gabaly in attendance, that Egypt has made great strides in the pharmaceutical industry and AstraZeneca had been greatly encouraged by the Ministry's reforming of the price system and adopting the WTO "TRIPS agreement which protects intellectual property rights.
The Egyptian drug industry is worth LE 8.6 billion a year and is second only to South Africa in the continent. AstraZeneca earned $23 billion in healthcare sales for 2005.
For his part El-Gabaly said in his speech "This is a symbol of our policy in attracting investment and turning it into something tangible. Foreign investment is a partner in the growth of the Egyptian economy just as much as local investment.
Brennan told reporters there is a great opportunity for growth in the Egyptian market and AstraZeneca has positioned itself properly in the last few years to take advantage of this.
He told The Daily Star Egypt "We have a wide variety of products and there is differentiation in the product line. For example our product Atacand treats heart failure and high blood pressure. We have a strong research and development department in (the areas of) cardiovascular and oncology treatments.
Brennan added that the company has made a commitment to prepare its business for emerging markets, Egypt included, to help them develop. "I think what we saw (here) was an opportunity to see what happens. There's more demand in emerging markets and the pharmaceutical industry is placed to (partake) in that. Good macro-economic policies lead to good GDP (for emerging markets), he told the Daily Star Egypt.
AstraZeneca's Executive Vice President of Operations David Smith told The Daily Star Egypt "We have been pretty impressed by the talent and diversity we have seen here in Egypt. They are committed and energetic.they want to get things done.
Many of AstraZeneca's products will be produced by the new plant and available for the Egyptian market, including the heart medicine Nexium and the psychiatric drug Seroquel, which will have a sustained release over the year.


Clic here to read the story from its source.