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Rameda achieves EGP 30M in Q1

Rameda achieves EGP 30M in Q1

ArabFinance: Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) posted a consolidated net profit before minority interest of EGP 30.009 million in quarter one (Q1) 2021, according to the company’s May 6th financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 26% when compared to EGP 23.767 million in Q1 2020.

Consolidated revenues grew by 16.5% y-o-y to EGP 270.8 million on the back of the Group’s optimized portfolio strategy coupled with a ramp-up in sales of Rameda’s new antiviral products, Anviziram and Remdesivir, both domestically and internationally in Q1 2021.

Standalone net profit reached EGP 30.331 million in Q1 2021, a 27% increase from EGP 23.971 million posted in Q1 2020.

Rameda is an Egypt-based pharmaceutical company that manufactures both human and veterinary pharmaceuticals. It operates three fully independent factories at its plant, including 20 production lines capable of producing a wide range of general medicinal forms, namely eye drops, solid dosage forms, syrups, blow-fill-seal, and lyophilized vials, among others.

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