{"id":601203,"date":"2019-02-21T03:50:10","date_gmt":"2019-02-21T03:50:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/21\/ibnsina-antitrust-fine-reduced-to-egp-160-mn-from-egp-2-04-bn\/"},"modified":"2019-02-21T03:50:10","modified_gmt":"2019-02-21T03:50:10","slug":"ibnsina-antitrust-fine-reduced-to-egp-160-mn-from-egp-2-04-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/21\/ibnsina-antitrust-fine-reduced-to-egp-160-mn-from-egp-2-04-bn\/","title":{"rendered":"Ibnsina antitrust fine reduced to EGP 160 mn from EGP 2.04 bn"},"content":{"rendered":"

DISPUTE WATCH- Ibnsina confirms antitrust fine reduced to EGP 160 mn from EGP 2.04 bn: <\/b>Ibnsina Pharma confirmed yesterday in an EGX disclosure (pdf)<\/a> that a Cairo appeals court has reduced to EGP 160 mn an original EGP 2.04 bn antitrust fine handed by the Cairo Economic Court. \u201cIbnsina Pharma asserts its strict adherence to the law and to the highest corporate governance standards in its day-to-day activities, policies and procedures. Ibnsina Pharma will maintain its legal right to defend its position and to safeguard the interests of its shareholders,\u201d the company said in an emailed statement (pdf)<\/a>.Ibnsina\u2019s executives can appeal the verdict before the Court of Cassation \u201cwithin the permissible legal time frame,\u201d the statement said. Read why this case matters<\/a>.<\/p>\n

Market reaction: <\/b>Ibnsina shares jumped 14.61% on Wednesday, closing at EGP 12.47. Shuaa Securities has adjusted its 12-month price target to EGP 13 per share, a 20% increase from Ibnsina\u2019s close price on Tuesday, it said in a research note on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"

DISPUTE WATCH- Ibnsina confirms antitrust fine reduced to EGP 160 mn from EGP 2.04 bn: Ibnsina Pharma confirmed yesterday in an EGX disclosure (pdf) that a Cairo appeals court has reduced to EGP 160 mn an original EGP 2.04 bn antitrust fine handed by the Cairo Economic Court. \u201cIbnsina Pharma asserts its strict adherence to […]<\/p>\n","protected":false},"author":1,"featured_media":601204,"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":[8572],"tags":[957,72,7115,1414,427,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-dispute-watch","tag-enterpriseam","tag-healthcare","tag-ibnsina-pharma","tag-pharma","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3db29df1-dcbd-460a-ba66-a9aba62ba0e3","is_powered_by":true,"section_story_id":"2e44fa9f-b778-471a-b8b1-25184c996a2a","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/2\/710.jpg","photo_position":"above","related_issue":[601193],"teaser":"","voice_url":""},"yoast_head":"\nIbnsina antitrust fine reduced to EGP 160 mn from EGP 2.04 bn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/21\/ibnsina-antitrust-fine-reduced-to-egp-160-mn-from-egp-2-04-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ibnsina antitrust fine reduced to EGP 160 mn from EGP 2.04 bn\" \/>\n<meta property=\"og:description\" content=\"DISPUTE WATCH- Ibnsina confirms antitrust fine reduced to EGP 160 mn from EGP 2.04 bn: Ibnsina Pharma confirmed yesterday in an EGX disclosure (pdf) that a Cairo appeals court has reduced to EGP 160 mn an original EGP 2.04 bn antitrust fine handed by the Cairo Economic Court. \u201cIbnsina Pharma asserts its strict adherence to […]\" \/>\n<meta property=\"og:url\" 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Ibnsina Pharma execs: The Cairo Appeals Court issued a ruling yesterday reducing an antitrust fine imposed on executives from Ibnsina Pharma to EGP 160 mn, down from an original EGP 2.04 bn fine handed down by the Cairo Economic Court, a source\u2026","rel":"","context":"In "Speed Round"","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":603406,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/","url_meta":{"origin":601203,"position":1},"title":"Ibnsina lodges appeal with Egypt\u2019s Court of Cassation to further reduce antitrust fine","author":"enterpriseam admin","date":"22 April 2019","format":false,"excerpt":"DISPUTE WATCH- Ibnsina lodges appeal with Court of Cassation to further reduce antitrust fine: Ibnsina Pharma has filed an appeal with the Court of Cassation (the nation\u2019s highest court of appeals) against a lower court decision that cut an EGP 2 bn antitrust fine to EGP 160 mn, the company\u2026","rel":"","context":"In "Speed Round"","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":628049,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/24\/ibnsina-pharma-lays-out-its-case-to-appeal-antitrust-case\/","url_meta":{"origin":601203,"position":2},"title":"Ibnsina Pharma lays out its case to appeal antitrust case","author":"enterpriseam admin","date":"24 June 2018","format":false,"excerpt":"Ibnsina Pharma lays out case in appeal of antitrust case: Ibnsina Pharma has filed documents countering antitrust allegations leveled against the company by the Egyptian Competition Authority (ECA), said company Chairman Mohsin Mahgoub. A Cairo Economic Court had found in March that Ibnsina, along with competitors United Co. for Pharmacists,\u2026","rel":"","context":"In "Speed Round"","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":605130,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/pharma-corruption-case-postponed-to-19-february\/","url_meta":{"origin":601203,"position":3},"title":"Pharma corruption case postponed to 19 February","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"COURT WATCH- The Cairo Economic Court has postponed to 19 February its ruling in an appeal by pharma distributors of an antitrust fine, according to a company disclosure from Ibnsina (pdf). The distribution companies (Ibnsina, Ramco, Multipharma and United Company for Distribution and Trade) are appealing an Egyptian Competition Authority\u2026","rel":"","context":"In "Speed Round"","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":598044,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/earnings-watch-ibnsina-pharma-amer-group-ode\/","url_meta":{"origin":601203,"position":4},"title":"Earnings watch: Ibnsina Pharma, Amer Group, ODE","author":"enterpriseam admin","date":"13 May 2019","format":false,"excerpt":"EARNINGS WATCH- Ibnsina Pharma 1Q2019 profits surge 46.6% y-o-y on rapid business growth: Medical products distribution company Ibnsina Pharma reported net profits of EGP 41 mn in 1Q2019 compared to EGP 28 mn a year earlier, a 46.6% y-o-y increase, the company said in a statement (pdf). Quarterly gross revenues\u2026","rel":"","context":"In "Speed Round"","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":601756,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/10\/earnings-watch-sodic-ibnsina-pharma-report-2018-results\/","url_meta":{"origin":601203,"position":5},"title":"Earnings Watch: SODIC, Ibnsina Pharma report 2018 results","author":"enterpriseam admin","date":"10 March 2019","format":false,"excerpt":"EARNINGS WATCH- SODIC reported 37% y-o-y growth in its adjusted bottom line to EGP 815 mn in 2018, the company said in its earnings release (pdf). Revenues for 2018 came in at EGP 3.73 bn, compared to EGP 2.30 bn in 2017, while net contracted sales declined 10% y-o-y to\u2026","rel":"","context":"In "Speed Round"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601203","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=601203"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601203\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/601193"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/601204"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=601203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=601203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=601203"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=601203"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=601203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}