EGYPT – Egypt’s Holding Company for Biological Products and Vaccines (VACSERA) has formed a joint venture (JV) with United Arab Emirates’ holding companies Exeed Industries and Scope Investment to set up a new manufacturing plant in Giza Governate.
This project aims to launch a joint shareholding company specialised in establishing, managing, and operating auto-disable syringes and other medical supplies.
Located in the VACSERA’s industrial complex on the 6th of October, the new manufacturing facility covers a total area of approximately 6,400 square meters, bringing new jobs to residents in the area.
The factory is projected to have an annual manufacturing capacity of 150 to 240 million units, accelerating patient access to affordable, appropriate medicines.
The completion of this manufacturing site is scheduled for Fiscal Year 2023 and the new plant will be operational by the first quarter of 2024.
Once VACSERA’s new facility is fully operational, it is expected to cover the requirements of the Egyptian market as well as the private sector.
The Egyptian manufacturer also plans to market its medical supplies to countries in the Middle East and Asian regions, and in the African continent.
Leveraging the combination of the three entities’ unparcelled experience and expertise, the partnership agreement will pave the way for a high-value healthcare delivery system in Egypt.
The strategic deal aligns with Scope Investment’s healthcare strategy to expand and build strong partnerships in all aspects of the healthcare sector.
As part of this deal, Scope Investment will provide high-quality products and services at competitive prices to the population of Egypt and the Sub – Saharan African region.
The signing ceremony was presided over by Dr. Heba Waly, the Executive Managing Director of VACSERA, Fareed Bilbeisi, Chief Executive Officer (CEO) of Scope Investment, and Dr. Saeed Aldayeh, the authorised representative of Exeed Industries.
Present to witness and officiate the official ceremony was Dr. Khaled Abdel Ghaffar, the Minister of Health and Population (MoHP) in Egypt.
Prior to the signing ceremony, Dr. Khaled Abdel Ghaffar inaugurated a fully automated cooling logistical complex for the storage and distribution of vaccines at VACSERA in 2022.
VACSERA is the leading manufacturer of serums, vaccines, and biological preparations in the Arab Republic of Egypt, the Middle East, and the African continent.
Egyptian companies have been known to have a competitive advantage in terms of quality, experience, labour prices, and an overall supportive investment environment.
The recent partnership agreement will help enhance vaccine manufacturing capacities in Egypt and consolidate its position as a regional hub for the manufacturing and storage of vaccines in Africa.
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