Mohamed El-Shimy, Minister of Public Enterprises, affirmed that the pharmaceutical industry is a vital pillar of health security and a key driver of the national economy, stressing that its development within the ministry's affiliated companies is a strategic priority. His remarks came while chairing the General Assembly meeting of the Holding Company for Pharmaceuticals (Holdipharma) to approve the budget plan for the 2025/2026 fiscal year. During the meeting, Ashraf El-Khouly, CEO and Managing Director of Holdipharma, presented the board's report, which included the draft budget for the coming fiscal year. The plan targets consolidated revenues of EGP 18bn, a 131% increase compared to 2023/2024, and net profits of EGP 3.4bn—up 343%. The report also noted the growth in the market value of the group's listed companies. The meeting, attended by Board Chair Ahmed Hegazy, members of the General Assembly, and representatives of the Central Auditing Organisation, marked the final approval of all holding companies' and subsidiaries' budgets for the new fiscal year. Minister El-Shimy explained that the ministry is working to localise and deepen pharmaceutical manufacturing, transfer and apply the latest global production technologies, and enhance product quality to strengthen competitiveness in local, regional, and international markets. Development plans include upgrading production lines, increasing manufacturing capacity, adhering to the highest standards of sustainability, quality, and Good Manufacturing Practice (GMP), ensuring occupational health and safety, and optimising the use of assets, capacities, and resources. He added that human capital development is central to achieving these targets, through specialised training and qualification programmes that encourage innovation and advance scientific research, alongside fostering partnerships with the private sector both domestically and internationally. These measures aim to increase production and export capacity, and open new markets to bolster the competitiveness of the national industry. El-Shimy stressed that reforming the financial structures of subsidiary companies is a top priority to ensure sustainable profitability and secure the resources needed for production expansion. He underscored the importance of updating organisational structures and management systems to meet current needs, while accelerating the implementation of the Enterprise Resource Planning (ERP) system to improve operational efficiency and ensure precise oversight of resources and production. The presentation also highlighted major projects and investment opportunities, including the production of biological drugs, insulin and biosimilars, dry powder inhalation tablets, active pharmaceutical ingredients (APIs), and hormones. It outlined partnerships with leading international companies, such as US-based Dawah, to produce and export products including ampoules, nutritional supplements, sterile injections, and sterile ophthalmic preparations. El-Shimy concluded by stressing the integration of economic, social, and environmental dimensions to ensure comprehensive sustainability in the company's activities. He called for promoting professional conduct, improving the work environment, and raising performance standards across all administrative and executive levels. He affirmed that the Ministry of Public Enterprises Sector is moving decisively towards modernising and restructuring its subsidiaries, striking a balance between profitability and sustainability, and enhancing Egypt's competitiveness regionally and globally. Holdipharma, he added, aims to achieve regional leadership in the sector, positioning Egypt as an advanced hub for pharmaceutical production and exports, meeting domestic needs while expanding into international markets.
