Egypt Independent

Egypt signs LE400 mn deal to build first tumor medicines factory



The Egyptian government has signed an agreement with private drug company Pharco Pharmaceuticals to build the country's first factory producing medicines for the treatment of tumors at affordable prices.

The new deal, signed by Health Minister Ahmed Emad Eddine and Military Production Minister Mohamed al-Assar, sees the private company partnering with the state-owned Holding Company for Biological Products and Vaccines (VACSERA).

Assar said that his ministry will take part in the planning of logistics and construction work. The factory will produce 103 tumor medicines that have been selected by the national committee for tumor treatment.

In a speech, Emad Eddine said the deal is a breakthrough in the history of pharmaceuticals in Egypt.

He offered thanks to Assar for doing most of the work to get the project going, along with the staff of Vacsera.

“What's happening is a wonderful dream. No one is happier than me. Vacsera represents the strategic depth of medicine in Egypt. We should never allow it to fail, whatever financial or administrative problems it may face,” he said.

The factory is expected to cost LE400 million, he said, providing for 95 percent of the Egypt's needs regarding tumor medicines.

He indicated possibility that tumor medicines price go down after establishing the factory.

Edited translation from Al-Masry Al-Youm