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Rameda reveals causes of fair value study deviation

Rameda reveals causes of fair value study deviation

ArabFinance: Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) announced the deviation reasons between the fair value study and the actual figures, according to the company’s standalone financial statement filed to the Egyptian Exchange.

The pharmaceutical market grew achieved 4% growth in 2020 compared to an average growth rate of 23% in 2016-2019 due to pandemic, the company said.  

Rameda’s financing costs and revenue in 2020 decline by 37% and 23%, respectively.

The listed company’s extraordinary general assembly ratified issued capital increase by EGP 57.850 million.

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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