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Drug Holding Company: “Development Committee "ends the study of the Co. structure
15 Sep 2017

Mr.Mohamed wanis

Mohamed Wanis, Chairman of the Drug Holding Company, said: "The Drug Holding Company has the expertise and the technical staff who have cooperated to manage the financial portfolio. He added that the state has turned to the development of state-owned pharmaceutical companies. A specialized committee has been formed from the Ministry of Public business Sector and the Ministry of Health. The committee has already completed its work for almost a month, And a copy was handed to the Minister of the business sector, and another to the Minister of Health to express their opinion and review, And then submitted to the Prime Minister. He stressed that the committee has developed a plan for the development of equipment, modernization of machines and production lines, as well as processing the production lines of companies that need at least three years to implement, after approval. "The process of development and modernization of pharmaceutical companies in the public business sector has been going very slowly, so we need billions to be able to match the quality of manufacturing, according to international organizations." He pointed out that the companies need a strong boost, especially as they are now in the process of development by self-efforts and self-financing in accordance with the budget set and targeted for the year 2017/2018, including funds for modernization, but in a limited scope, unlike the general plan, which is currently being studied to include All companies. "We are working on exploiting unexploited assets owned by companies for partial development, either by selling to provide liquidity, or to exploit these assets in the right investment, or to link companies to cooperate in the use of production lines. We have put forward several solutions to provide liquidity for the development of companies, Are feasible on the ground within the limits currently available, but the development of the entire sector needs billions to achieve overall development. " He pointed out that the temporary development is not enough, but activates some production lines for companies, not the company is complete, adding, we work in stages for each company according to the possibilities available, our future plan is to be able to export, while providing appropriate treatment internally at affordable prices accessible to the simple citizen , And opening new outlets in foreign markets to bring in hard currency. He stressed that there is no intention to enter foreign companies in partnership with the state-owned pharmaceutical companies, which is unlikely, and the financial year ended 2016/2017 achieved by 4 companies a big boom in its results and profits, and these companies are (El Kahira , Alexandria,  ADCO And CID ), while other companies that stumbled at the end of the fiscal year,( Medical Appliances & Packages Co. , the Egyptian Trading company, and El Nasr chemicals Co., and joined by «Memphis Co.» in the achievement of losses, and the development of rapid plans to correct the course during the plan 2017/2018, And all the companies made profits after that Pointing out that the general assemblies for companies will start from the 27th of this month until October 1st.

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