Bayer — a global life science company — is celebrating the announcement of its partnership with an Egyptian pharmaceutical company to establish a drug production hub for over the counter (OTC) products under the auspices of the Egyptian Drug Authority (EDA).
Bayer announced its three-year strategy to expand its business within the Egyptian market by producing 60 to 70% of its OTC drugs for consumers locally and will re-launch five new consumer health-related products by the end of 2025.
This comes in line with Egypt’s 2030 Vision and the company’s vision of ‘Health for All, Hunger for None.’
The announcement was shared during a launch event on Monday that was attended by both parties and their senior staff, including Tamer Mohamed Essam, Chairperson of the EDA, and Mohamed Galal — Vice President and Head of Bayer Consumer Health Division in the Middle East — along with a list of key opinion leaders in the industry and media representatives.
Under the auspices of the EDA, this collaboration aims to offer patients in Egypt access to the latest innovations in the field of consumer health. Furthermore, it is an exemplary model for the reforms the Egyptian government is promoting in the healthcare sector by having well-known pharmaceutical companies enter into partnerships and joint ventures that are aligned with the country’s 2030 Vision.
Bayer is a life science company and a global health care and nutrition leader. The group’s vision is to deliver world-class innovation, drive operational performance, and generate sustainable impact by serving the most basic human needs — health and food — through its three main divisions: Crop Science, Pharmaceuticals, and Consumer Health.
During the celebration, Essam highlighted the importance of this step with Bayer and said: “The role of the EDA is to support the policy of drug localisation to reduce the possibility of drug shortages in the local market, in addition to encouraging investments in Egypt.”
He added that the EDA has reformed its policies to promote localisation efforts by providing flexible regulations for licensing drugs and fast-track clearance for new products and will continue to offer the manufacturer all available technical assistance to facilitate the registration and launch of all the drugs that are intended to be made locally.
On behalf of Bayer, Galal acknowledged that “Egypt has established itself as one of the fastest-growing markets in the Middle East. The industrial sector is an important pillar in the Egyptian government’s economic reform plan and represents a valuable contribution to the achievement of Egypt’s 2030 Vision for Sustainable Development.”
“In this context, Bayer’s plans on investing EGP 240m in the Egyptian market to re-launch five new products to the local market, in addition to the current locally manufactured products.”
“Our underlying three-year strategy is to expand its business within the Egyptian market by producing 60 to 70% of its OTC drugs for consumers locally by the end of 2025,” he added.
Ahmed Farrag — Commercial Lead in Egypt and the Levant at Bayer’s Consumer Health Division — added: “The establishment of a local drug production hub in Egypt reflects the strategic importance of the Egyptian market for Bayer. This will bring us one step closer to our consumers and enable us to ensure the availability of our renowned and iconic brands to Egyptian consumers, while also responding to logistical challenges following the pandemic.”