Ibnsina Pharma announced signing an agreement with Roche Pharmaceuticals to import and distribute Roche products in the Egyptian market.
Under the deal, Ibnsina Pharma will distribute all 40 high-technology stock keeping units (SKU) designed to provide treatment for cancer, multiple sclerosis, and hemophilia patients, according to a statement to the Egyptian Exchange (EGX) on Monday.
Egypt’s second-largest pharmaceutical distributor is forecast to achieve sales of about EGP 300 million by the end of 2020, the company’s chairman, Mohsen Mahgoub, said.
In 2018, Roche generated EGP 1.435 billion in sales in the Egyptian market, the statement added.
During the first half of 2019, the pharmaceuticals firm logged a net profit of EGP 103.19 million, compared to EGP 76.56 million in the year-ago period.