British leading pharma company AstraZeneca plans to invest over $100 million in the Egyptian market over “the coming years” and an increase its production capacity by 50%, country president Hatem Werdany told Al Arabiya.
“Our Egyptian products use 50-60% locally-made products and we hope to reach 80% over the coming three years,” he said.
Moreover, the company’s factory in Sixth of October produces medicine targeting a variety of areas — cardiovascular, gastrointestinal, respiratory, neuroscience, and oncology.
The facility has the production capacity of 900 mn tablets per year, according to its website.
“Egypt is a very promising market,” Werdany said. “This year we have nine new products … and over the coming three years we will introduce 25 new products to the Egyptian market.”
Meanwhile, the company has not been affected by the ongoing shortage of foreign currency and has not faced problems repatriating profits, he said.
