EGYPT – SEDICO Pharmaceutical has officially started operations at its new US$32 million (EGP 1 billion) oncology drugs factory in Giza, Egypt, to develop and produce cancer drugs.
Located in 6th of October City, the state-of-the-art factory covers an area of 1,250 square meters, accelerating patient access to affordable, appropriate oncology medicines.
The Giza-based factory was designed and built by Italy’s CSV Life Science, which provides engineering, construction, validation, and compliance services for the global pharmaceutical industry.
The co-financed project also witnessed the participation of CSV Life Science’s Egyptian representative INNOX Engineering.
The well-equipped factory in Giza begins operations at a time when the oncology market is set to reach unprecedented heights over the coming years.
The global oncology market was valued at US$286.04 billion in 2021 and is expected to reach over US$581.25 billion by 2030, poised to grow at a noteworthy CAGR of 8.2% from 2022 to 2030.
Once its new facility is fully operational, SEDICO Pharmaceutical will produce over 70 oncology drugs to serve the Egyptian market and meet Africa’s unfulfilled demand for cancer medications.
It is anticipated that the oncology drugs factory in Giza will develop and produce nearly 10 million units annually at full capacity.
The Egyptian pharma giant plans to market its oncology drugs to countries in the Middle East and Eastern Europe regions, besides boosting local manufacturing capacities in Africa.
SEDICO also intends to grow its export market to 60 countries from the current 43 over the next two years once full production commences.
The project implementation includes two stages of execution: the production of ampoules and injections in Phase 1 and the production of tablets and capsules in Phase 2.
With the new facility, SEDICO intends to develop, produce and sell oncology products valued at approximately US$45 million (EGP 1.4 billion) over the next three years.
The company self-funded 70 percent of the investment in the new factory with bank loans accounting for the remaining 30 percent.
Moreover, SEDICO has expanded its product portfolio, which comprises over 280 pharmaceutical products covering cardiovascular, gastroenterology and respiratory, to include oncology products.
The company has stretched, elongated and diversified into newer therapeutic areas while consolidating the existing ones.
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