EIPICO was able to provide medicine to the Egyptian citizen at a fair price, as the average price of a package of EIPICO products is one of the lowest prices in the market with the highest international quality standards, this is in fulfillment of its social role, in addition to pumping investments more than 200 million pounds for the past year to develop many departments and production lines for the future generations while fulfilling all its financial obligations towards the state as taxes, social insurance and others, increasing income for workers and interest in developing and improving all services provided to them and developing their professional capabilities.
Nevertheless, the company achieved for the first time in 15 years to be rank NO.1 in the Egyptian market in unit wise sales, with a market share of 8% and growth rate 31% of the year 2020, and a sales volume of 3.364 EGP billion in 2021 with increase of 20.6% over 2020, and it achieved a net profit before Taxes amounted to 638 million pounds, a growth rate of 25% over the last year, and will distribute profits to shareholders.
All of these in on year what we called “the impossible equation”.
“Dr. Ahmed Kelani chairman & managing director of EIPICO
Stated during the company annual General Assembly that recently held”.
EIPICO is at the forefront of pharmaceutical companies in Egypt
Dr. Kelani expressed that EIPICO is the largest pharmaceutical production company in Egypt, with more than 321 million packages, valued at more than 3.4 billion pounds, and that EIPICO products are available in every home OF more than 100 million people, where the share of 3 packages per each from all ages.
In addition, EIPICO is the first in the production of antibiotics of all kinds and has more than 20 preparations with different concentrations and multiple pharmaceutical forms, with local sales of 66.2 million packages and a market share 21% unit wise and 14% of the value wise of the Egyptian market and it captured NO.1 the production and sales of ophthalmic, with a market share of 25% of ophthalmic units sold in 2021, with 22.2 million packs, achieving a growth 19.7% from 2020.
EIPICO at the top of the Egyptian pharmaceutical exports
Dr. Kelani stated that EIPICO has achieved an unprecedented achievement in its history, as its exports jumped last year by more than 22%, with a value of $48 million, equivalent to 753 million in Egyptian pounds. It is on top of Egyptian exports, with a market share approaching 25% of the total Egyptian pharmaceutical exports. No company in Egypt alone exports 25% of Egypt’s total exports of any product. Dr. Kelani gave special appreciation and thanks to EIPICO’s export staff and stressed on focusing in exporting to Africa, where there are many the potential opportunities
EIPICO is strong and solid in face of the current economic challenges
In response to the shareholders’ inquiries about the increase of the dollar’s price on the company, Dr. Kelani explained that the rise in the dollar’s price will cost the company 240 million pounds in 2022 as an additional burdens. However, he emphasized the strength and durability of the company’s position in a way to overcome these effects through many measures, and work teams of the senior specialists in the company who operate around the clock.
In this context, although we do not have the privilege to raise the price of our products (medicines), we will cooperate together to mitigate the effects of this challenge on citizen as much as possible.
311 million pounds investments for the EIPICO 3 plant project
Dr. Kelani indicated that despite the economic crises and tensions in the international arena, EIPICO had the enough courage to study and implement the only factory in Egypt and the Middle East for the production of bio-pharmaceuticals (Biosimilars & Biologicals), which will lift the heavy burden on the state and citizens in providing medicines for many immune diseases and cancers, and it will be one & the only factory in the region where the bio-product will be fully manufactured by starting producing the cell itself to the row material of the product, approval was obtained for the production of 7 biological preparations with different concentrations, indicating that the cost of this project is approaching 2 billion EGP. Investments were pumped 311 million EGP in the past two years, of which 286 million EGP in last year, take executive actions were taken towards the establishment of the project by “Modular Construction” in Europe through major international specialized companies, and civil construction works will begin on the factory land after the holy month of Ramadan
EIPICO has started participation studies with 25% of the investments of establishing the API Raw Materials Factory
Dr. Kelani added that within the framework of the pioneering role and responsibility it bears to protect the Egyptian drug industry and support the national economy, EIPICO has started a feasibility study to contribute 25% of the total investments in the project to establish the first API pharmaceutical raw materials factory in Egypt and the Middle East on an area of 75,000 square meters with investments of one billion pounds in the investment zone of the Suez Canal, in order to ensure the provision of raw materials necessary for the pharmaceutical industry and to protect the industry from fluctuations and crises that the world is witnessing from epidemics, wars and conflicts, affecting supply chains, raising prices and affecting the provision of medicine to citizens.
We work for future generations
Dr. Kelani indicated that in the context of our concern for the future generations, we have started 3 years ago a comprehensive development plan in all the company’s facilities, production departments, research laboratories and quality control laboratories, and so far about 60% of the departments and production lines have been fully developed and modernized
The quality control laboratories were developed in a way where were accredited ISO/IEC 17025:2017. In the same context, the hormone department was developed, a new department was established for the production of Benam preparations, the BFS department was established for the production of single-dose ophthalmic preparations, the AEROSOL area, and others, with the development of the service system of stations, boilers, and chillers, and the development and maintenance of entire warehouses, In the context of the company’s interest in scientific research, a separate budget has been allocated to the Research and Development Department (R & D) to develop products are currently produced and the new ones.
EIPICO.. A leading role to support the state in face of Corona
Dr. Kelani concluded by pointing out that EIPICO was and still supports the state in confronting Corona, as it provided most of the drugs used in all Corona treatment protocols, especially antivirals, and we provided the local market and export more than 73 million units of pharmaceutical products used in treating of Corona, in addition, we support the unified procurement system to provide medicine to citizens, where we provide approximately 60% to 70% of the medicines needs of the Unified Procurement Authority, due to our uniqueness with a low average price of our products.
He extended his thanks and appreciation to all state agencies and their role in supporting these achievements, especially the Ministry of Health, the Egyptian Medicines Authority and the Unified Procurement Authority, and thanked the shareholders for their full support towards the company’s measures to develop and pump new investments, praising the highness and distinguished professional level for all the company’s employees.
The shareholders participating in the General Assembly expressed their sincere thanks to Dr. Ahmed Kelani, members of the Board of Directors and the company’s employees for achieving these achievements and successes, renewing their confidence in them to ensure the continuation of these achievements amid unprecedented challenges.
