GYPTO Pharma to manufacture drugs in KSA under $129m deal

Egyptian holding company GYPTO pharma and several other local companies signed Monday $129.44 million worth of contracts with Saudi Arabian Med City Pharma company to transfer drug manufacturing technology and production to the kingdom, ‘Ahram Online’ reports.

Under the deal, GYPTO Pharma will also manufacture some of its drug brands in Med City’s factories in the Gulf country. Amr Mamdouh, Chairman of GYPTO Pharma, indicated that the agreement also includes registering some Egyptian drug brands in the kingdom, paving the way for more cooperation.

The signing took place on the sidelines of the Supply Chain and Logistics Conference 2023, held on 22-23 October in Riyadh, the Egyptian media notes.

GYPTO pharma brands itself as the first of the art Medicine city in the region containing diversified highly skilled team occupied with best production facility and high standards machines and systems.

The Medicine city launched in 2021 is a specialized hub in manufacturing various medicines and vaccines, covering 180,000 square meters in Khankah, Qalyubiyah, north of Cairo.

Egypt’s pharmaceutical market ranked first in the Middle East and North Africa (MENA) region in 2023, with a $56.6 billion market value.