HEALTHCARE-

#1- To further the localization of drug manufacturing: State-owned medical city complex Gypto Pharma has inked a strategic partnership with US-based pharma and medical device manufacturer Abbott to locally manufacture six painkillers and antibiotics. Gypto expects to produce 95 new pharma products by the end of 2024, Gypto head Amr Mamdouh said.

#2- Local electro-medical and electronic equipment manufacturer BioBusiness has launched Egypt’s first production line for neonatal devices, supported with investments totalling some USD 10 mn, Al Borsa reported, citing company head Mostafa El Wakil. The devices will be half the price of their imported alternatives, but be of the same quality, El Wakil added.

AVIATION-

EgyptAir is getting a top-up to buy new planes: The Finance Ministry is working to secure EGP 20 bn in funding for national flag carrier EgyptAir to add new planes to its fleet and help it settle its mounting debt, writes Al Mal.

Tags: