On Sunday, Egyptian pharmaceutical company APEX Pharma revealed its ambitious intentions to construct two pharmaceutical factories in Egypt and Saudi Arabia, with a combined investment totaling four billion Egyptian pounds expected in the coming year.
The initial investment for the new facility in Egypt is set to exceed one billion pounds, with projections indicating a future investment ranging between two and three billion pounds within the next three years, as stated by Magdy Elba, Chairman of APEX Pharma.
Elba emphasized that the primary objective for APEX Pharma at present is to finalize all necessary procedures, aiming to have the Saudi factory operational by mid-2024. However, he acknowledged that the process has encountered delays attributed to the COVID-19 pandemic.
APEX Pharma, recognized as a marketing-driven organization producing high-quality generic pharmaceutical products, aspires to serve as an ethical model within the pharmaceutical industry, ultimately establishing a prominent presence in Egypt and the MENA region.
