Arab Finance: Minister of Industry Khaled Hashem inaugurated the EIPICO 3 factory, operated by the Egyptian International Pharmaceutical Industries Company (EIPICO), with investments exceeding $100 million, according to a statement.
Located on a 10,500-square-meter site in the 10th of Ramadan City, the new facility will manufacture around 14 biopharmaceutical products for the treatment of cancer, blood disorders, infertility, kidney diseases, and anemia.
EIPICO 3 is the first facility in Egypt and the Middle East capable of manufacturing complete biosimilars and generic biologics starting from genetically modified cells.
The factory utilizes tissue culture technology to stimulate cells to produce therapeutic proteins, which are then purified into active pharmaceutical ingredients before being formulated into finished medicines.
The EGX-listed group operates three factories spanning a combined 130,500 square meters. It produces 425 pharmaceutical products with an annual production capacity of 327 million packs, 60% of which are locally sourced.
EIPICO exports pharmaceutical products worth around $60 million annually to more than 60 countries, making it Egypt's largest pharmaceutical exporter. It accounts for 25% of Egypt's total pharmaceutical exports and 30% of the country's pharmaceutical exports to Africa. The company secures around 5,000 direct jobs.
For his part, Hashem described the pharmaceutical and medical industries as strategic sectors within the ministry's industrial development agenda, emphasizing their critical role in reducing the import bill, creating job opportunities, and supporting economic growth through technology localization.
He reaffirmed the ministry's commitment to supporting pharmaceutical manufacturers in expanding production, particularly for medicines targeting critical and chronic diseases, as part of the government's broader strategy to position Egypt as a regional hub for pharmaceutical manufacturing and exports.
In the first quarter (Q1) of 2026, EIPICO logged EGP 283.953 million in consolidated net profit attributable to the holding company, 10.86% year-on-year (YoY) down from EGP 318.563 million.
