Ibnsina Pharma said it aims to bring its annual investments to between EGP 250m and EGP300m, excluding the non-recurring investments that occurred in fiscal year (FY) 2018/2019. It added that it plans to open three or four branches every year.
Ibnsina Pharma achieved profits amounting to EGP 328.77m in the full year 2019 compared to EGP 262.5m in the previous full year.
The company’s sales increased in the past full year to EGP 16.6bn, up from EGP 13.3bn in 2018.
Ibnsina Pharma has, in recent years, succeeded in expanding its business operations, becoming an official importer of a group of pharmaceutical products and medical devices. This has taken place through cooperation with multinational companies and major pharmaceutical companies.
The company also continues its efforts to enter into new partnerships with the most reliable international suppliers to meet the growing demand for medicines in the Egyptian market. It also looks to provide various vital pharmaceutical products for the local market.