October 1st, 2019 | 0 commentsGulf Pharmaceutical Industries (Julphar) announced it would authorize the use of AED 184.80 million of the company’s voluntary reserve, as well as AED 376.90 million of the statutory reserve to offset accumulated losses of AED 561.700 million as at 31 December 2018. This decision was backed by the Securities and Commodities Authority’s (S...
September 30th, 2019 | 0 commentsKahira Pharmaceuticals announced that its shareholders approved distributing cash dividends and bonus shares for fiscal year 2018/2019 during an ordinary general meeting (OGM). The pharmaceuticals firm approved distributing a bonus share for every four shares held to be financed from the company’s retained earnings as of 30 June, accordin...
September 30th, 2019 | 0 commentsAlexandria Pharmaceuticals and Chemical Industries announced that its shareholders approved a cash dividend distribution of EGP 11.2 per share for fiscal year 2018/2019 during an ordinary general meeting (OGM). The company’s shareholders ratified the distribution of EGP 22.18 million as a profit share to the company’s employees and the al...
September 26th, 2019 | 0 commentsThe US financial institution Overseas Private Investment Corporation (OPIC) signed a commitment letter worth $10 million with Egypt’s LimeVest Partners to support LVP Health Holding Ltd, according to a recent statement. This is the first funding to be injected by the US government’s development finance institution into an Egyptian private...
September 24th, 2019 | 0 commentsThe board of directors of October Pharma assented to increase the firm’s capital by EGP 60 million. The company’s issued, paid-up, and authorised capital will be increased to EGP 120 million from EGP 60 million, the company said in a filing to the Egyptian Exchange (EGX) on Monday. It is worth pinpointing that during the first half of 201...
September 17th, 2019 | 0 commentsGulf Pharmaceutical Industries (Julphar) announced that its Jerome Carle who performs as its CEO has tendered his resignation. The board of Julphar has accepted the resignation of Carle, according to a bourse disclosure to the Abu Dhabi Securities Exchange (ADX) on Monday. The ADX-listed company pointed out that the CEO’s last working day...
September 10th, 2019 | 0 commentsMemphis Pharmaceutical and Chemical Industries reported a 45.7% year-on-year decrease in its losses during fiscal year 2019/2019. The company suffered losses after taxes of EGP 25.37 million in FY18/19, compared to EGP 46.73 million in the prior fiscal year, according to a statement to the Egyptian Exchange (EGX) on Monday. Year-on-year,...
September 9th, 2019 | 0 commentsEmirates Maritime Arbitration Centre (EMAC) and the Abu Dhabi Global Market Arbitration Centre (ADGMAC) have signed a memorandum of understanding (MoU) to upgrade arbitration and mediation services across the UAE maritime industry. The MoU was signed by acting chairman and secretary-general of EMAC Majid bin Bashir and registrar and chief...
September 9th, 2019 | 0 commentsNile Pharmaceuticals and Chemical Industries (Nile Pharma) announced turning to profitability during fiscal year 2018/2019, the company’s adjusted financial results showed. The company logged a net profit of EGP 6.7 million from July 2018 to last June, against a loss of EGP 17.59 million FY17/18, according to a statement to the Egyptian E...
September 3rd, 2019 | 0 commentsIbnsina 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 state...
