The Egyptian Arab Land Bank is arranging an EGP 500 mn syndicated loan to finance a cancer vaccine factory built by Pharco Pharma and the ministries of health and military production, bank VP Adnan El Sharkawy told Amwal Al Ghad. The estimated total cost of the production line is EGP 1 bn, he added. The bank will provide EGP 100 mn of the loan, with the remaining EGP 400 mn to be distributed between two other unnamed banks. Cancer vaccines belong to a class of substances known as biological response modifiers and can be categorized broadly as preventive or treatment vaccines.

Tags: