Sun Pharma inaugurates its manufacturing unit in Egypt

The third largest producer of pharmaceuticals in the world has started operating in Egypt.

The Dollar Business Bureau

On February 21, 2017, Indian Ambassador to Egypt Sanjay Bhattacharyya, inaugurated Sun Pharma’s manufacturing unit in 6th of October City in Cairo.

Sun Pharma is an Indian multinational pharmaceutical company headquartered at Mumbai. The company manufactures and sells active pharmaceutical ingredients (APIs), pharmaceutical formulations in India and the US. Sun offers formulations in various therapeutic areas such as psychiatry, cardiology, neurology, diabetology, and gastroenterology.

Sun Pharma is known for offering a wide range of healthcare products and medicines such as capsules, tablets, injectable, ointments, inhalers, creams, liquids and other dosages at affordable prices. The company has gained trust among healthcare professionals and patients across the globe.

The third largest producer of pharmaceuticals in the world has started operating in Cairo, by investing $20 million into its new project. This has also enhanced the economic ties between India and the Middle-Eastern country.

Speaking to the media, the Indian Ambassador said that the partnership between India and Egypt has been renewed after a long time. A joint statement regarding this new partnership was announced by PM Narendra Modi and President of Egypt Abdel Fattah el-Sisi last year.

The Ambassador also said that the pharma industry will continue to offer affordable and reliable medicines to developing countries like Egypt.

Sun Pharma had acquired Ranbaxy Pharmaceuticals in 2014, making it a conglomerate and the fifth largest generic medicine manufacturer in the world.

Country General Manager at Sun Pharma and Head-Rest of Middle East at Ranbaxy, Hany Mashaal said, though the pharma industry had faced political and economic issues, and, several other barriers, the industry decided to invest in Egypt market.

Mashaal said, “The importance has been increased after the visit of President Sisi to India in September last year, which motivated us to enhance our investment".

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The Dollar Business Bureau - Feb 21, 2017 12:00 IST