{"id":587154,"date":"2023-05-23T00:00:00","date_gmt":"2023-05-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/23\/astrazeneca-to-raise-egypt-investments-to-usd-100-mn\/"},"modified":"2023-05-23T00:00:00","modified_gmt":"2023-05-23T00:00:00","slug":"astrazeneca-to-raise-egypt-investments-to-usd-100-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/23\/astrazeneca-to-raise-egypt-investments-to-usd-100-mn\/","title":{"rendered":"AstraZeneca to raise Egypt investments to USD 100 mn"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">AstraZeneca to boost investment and up production: <\/span><span style=\"\">British pharma giant AstraZen<\/span><span style=\"\">eca&nbsp;<\/span><span style=\"\">plans to increase its investments in Egypt to USD 100 mn over the next three years and increase its production capacity by 50%, country president Hatem Werdany told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/45linFv\" style=\"\">Al Arabiya<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Localizing supply chains: <\/span><span style=\"font-weight:400;\">\u201cOur Egyptian products use 50-60% locally-made products and we hope to reach 80% over the coming three years,\u201d he said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AstraZeneca in Egypt: <\/span><span style=\"\">The company\u2019s factory in Sixth of October produces medicine targeting a variety of areas \u2014 cardiovascular, gastrointestinal, respiratory, neuroscience, and oncology. The facility has the production capacity of 900 mn tablets per year, according to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.astrazeneca.com\/country-sites\/egypt.html\" style=\"\">website<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More products to come: <\/span><span style=\"font-weight:400;\">\u201cEgypt is a very promising market,\u201d Werdany said. \u201cThis year we have nine new products \u2026 and over the coming three years we will introduce 25 new products to the Egyptian market.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AstraZeneca unaffected by FX crisis:<\/span><span style=\"\"> The company has not been affected by the ongoing shortage of foreign currency and has not faced problems repatriating profits, he said.&nbsp;<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><i><font size=\"3\">Correction: 30 May 2023&nbsp;<\/font><\/i><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><i><font size=\"3\">A previous version of this article incorrectly stated that AstraZeneca plans to invest USD 100 mn in Egypt. The article has been updated after Al Arabiya corrected its story.<\/font><\/i><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AstraZeneca plans to increase its use of local components to 80%<\/p>\n","protected":false},"author":1,"featured_media":587155,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[114,72,125,131,427],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-astrazeneca","tag-enterpriseam","tag-investment-watch","tag-manufacturing","tag-pharma","wpautop","entry"],"acf":{"mongo_id":"446acda1-107e-48c3-9122-613c83c45ed7","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1238.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AstraZeneca to raise Egypt investments to USD 100 mn","related_issue":[587148],"teaser":"AstraZeneca plans to increase its use of local components to 80%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.330defc8-c793-4cd6-8aa8-23bf9324f9bf.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The company is launching a new med for hypertension and heart disease, he added. We had reported last year that AstraZeneca had invested EGP 300 mn in the domestic market.","rel":"","context":"In &quot;Health + Education&quot;","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651341,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/09\/astrazeneca-investing-usd-5-mn-into-expansions\/","url_meta":{"origin":587154,"position":1},"title":"AstraZeneca investing USD 5 mn into expansions","author":"enterpriseam admin","date":"9 February 2017","format":false,"excerpt":"AstraZeneca is investing USD 5 mn into the expansion of its Six of October factory, country President Khaled Atef told Al Borsa. The expansion will increase the company\u2019s annual output by 33%, he added. 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PLUS: BAIC Group, Fiat + Dynamic Distribution, Capricorn, Jaz Hotel Group, Ferrum Egypt, NextEra, Makanak, Melee, City Lab","author":"enterpriseam admin","date":"22 September 2024","format":false,"excerpt":"The big pharma giant also wants to localize 80% of units produced at its Egypt plant by 2028","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1616.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":619394,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/health-ministry-allays-fears-amid-fresh-astrazeneca-covid-19-blood-clots-controversy\/","url_meta":{"origin":587154,"position":3},"title":"Health Ministry allays fears amid fresh AstraZeneca Covid-19 blood clots controversy","author":"enterpriseam admin","date":"1 May 2024","format":false,"excerpt":"Pundits took to the airwaves to discuss the news that the AstraZeneca vaccine can lead to blood clots","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/9.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569588,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/01\/pfizer-is-looking-to-increase-investments-in-egypt-by-usd-70-mn\/","url_meta":{"origin":587154,"position":4},"title":"Pfizer is looking to increase investments in Egypt by USD 70 mn","author":"enterpriseam admin","date":"1 March 2020","format":false,"excerpt":"INVESTMENT WATCH- Pharma giant Pfizer is looking to invest an additional USD 70 mn in Egypt \u201cin the coming months,\u201d Pfizer Vice President and Assistant Treasurer Brian McMahon told Planning Minister Hala El Said on Thursday, according to an official statement. The statement did not provide further details on the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587211,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/23\/this-evening-china-energy-could-soon-sign-a-framework-agreement-for-usd-7-bn-green-hydrogen-project\/","url_meta":{"origin":587154,"position":5},"title":"THIS EVENING: China Energy could soon sign a framework agreement for USD 7 bn green hydrogen project","author":"enterpriseam admin","date":"23 May 2023","format":false,"excerpt":"Good afternoon, friends, and happy hump day. We have another slow day so far here in Omm El Donia \u2014 although what started out as slow yesterday turned into a relatively brisk news cycle. THE BIG STORY TODAY China Energy moving forward with green hydrogen project: China Energy is expected\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/371.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/587154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=587154"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/587154\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/587148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/587155"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=587154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=587154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=587154"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=587154"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=587154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}