Pharma may have appetite for capex as two manufacturers take on debt to finance new production capacity: Future Pharma Industries (FPI) has secured a EGP 350 mn loan from the National Bank of Egypt and QNB AlAhli to fund a new EGP 500 mn plant, Chairman Gamal El Leithy tells Souq Al Dawaa. SPE Capital, whichacquired a 30% stake in FPI for EGP 500 mn, will finance the remaining funding needed to develop the project. The factory will produce ampoules and eye drops, and is expected to be operational by 2023, according to El Leithy.

Meanwhile, Marcyrl Pharma is borrowing EGP 300 mn from QNB to bankroll the development of an aseptic production line for needles and drops in the company’s factory in Obour City, General Manager Wagdy Mounir tells the newspaper. The manufacturer aims to see a 20% boost in sales during 2021, Mounir said.

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