EGYPT — GYPTO Pharma, an Egyptian medical city, has entered into a strategic partnership agreement with the US-based pharmaceuticals manufacturer, Abbott, to produce six painkillers and antibiotic medications.
This significant collaboration is set to manufacture 155 million packs over five years, utilizing approximately 9% of GYPTO Pharma’s production capacity, according to a cabinet statement.
The partnership is a substantial step towards expanding local drug production and providing medications that meet international standards at affordable prices for Egyptian citizens.
The Egyptian Ministry of Health and Population emphasized that this initiative aims to enhance the availability of high-quality medicines in the local market, ensuring better healthcare outcomes for the population.
The announcement of this partnership was made on the sidelines of an inauguration ceremony attended by Khaled Abdel-Ghaffar, the Minister of Health and Population, and Amr Mamdouh, the Chairman of GYPTO Pharma.
Speaking during the signing ceremony, Abdel-Ghaffar highlighted that this partnership would play a prominent role in building the confidence of foreign investors.
He noted that the collaboration would facilitate the operation of new pharmaceutical lines and work towards achieving self-sufficiency in medicine.
Abdel-Ghaffar added that Egypt possesses the technical, human, and financial capabilities to become a leading hub for pharmaceutical industries and exports to African, East Asian, and European countries.
Amr Mamdouh, for his part, underscored that the city currently cooperates with seven leading pharmaceutical companies and targets the production of 95 new pharmaceutical products by the end of 2024.
This ambitious target is part of GYPTO Pharma’s broader strategy to enhance its production capabilities and contribute significantly to the local and regional pharmaceutical markets.
In October 2023, GYPTO Pharma and several local companies signed EGP 4 billion contracts with Saudi Med City Pharma company, further cementing its position as a key player in the pharmaceutical industry.
This move aligns with Egypt’s growing prominence in the sector, as evidenced by the country’s pharmaceutical market ranking first in the Middle East and North Africa (MENA) region in 2023, with a market value of US$56.6 billion.
GYPTO Pharma’s production capacity reached 26 million drug packages in 2023, and the city targets 60 million packages in 2024.
This ambitious expansion plan highlights GYPTO Pharma’s commitment to meeting the rising demand for pharmaceutical products both locally and internationally.
Inaugurated by President Abdel-Fattah El-Sisi in April 2021, GYPTO Pharma was established to become MENA’s largest pharmaceutical hub.
The city, which stretches over 180,000 square meters, is dedicated to producing a wide range of medications, including those for respiratory infections, chronic diseases such as diabetes, high blood pressure, and heart diseases, as well as medical solutions used in hospitals.
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