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Ibnsina Pharma to invest EGP 141M

Ibnsina Pharma to invest EGP 141M

ArabFinance: Ibnsina Pharma (ISPH) plans to invest EGP 141 million according to its annual investment plan for expansion in 2021, the company said in a statement filed to the Egyptian Exchange.

The investment budget will be divided into four objects of expenditure; EGP 59 million in inauguration new branches and the company administrative headquarter, EGP 36 million for developing its current branches, EGP 34 million for digital transformations, and EGP 12 million for distribution cars renew.

Early April, Ibnsina has hired Abdelaziz Ali as non-executive chairman succeeding Muhammad Mahgoub.

Ibnsina’s consolidated net profit reached EGP 224.66 million in 2020, down 31.6% when compared to EGP 328.77 million in 2019.

Ibnsina is an Egypt-based pharmaceutical distribution company. The company distributes a portfolio of pharmaceutical products from over 350 Egyptian and multinational companies to more than 35,000 customers including pharmacies, hospitals, retail outlets, and wholesalers.

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