Endorsed by its favourable logistical positioning, cost-efficient production scheme and
advantageous trade agreements, Egypt is considered a key pharmaceutical hub for the Middle
East, Europe and Africa. The devaluation of the local currency allows Egypt’s newly established
and growing companies to capture solid returns, as growth is expected in the market, a robust
increasing of exports foreseen and the subsequent appreciation of the Egyptian pound projected
– given the actual improving macroeconomic conditions that are revamping Egypt and the sector.
Confident of Egypt’s economic outlook, Chairman and CEO, Dr Wafik Bardissi predicts only better
business to come starting on 2018: ‘’Egypt presents a unique investment opportunity for foreign
direct investments across many sectors, including pharmaceuticals. Next year will witness a
direct investments across many sectors, including pharmaceuticals. Next year will witness a
more profound stability in different industries, where companies are capable of adjusting to the new
economics of the now-different industry dynamics.’’
Dr. Wafik Bardissi
—
Chairman & CEO,
Minapharm
Minapharm is committed
to maintaining its pioneering
position in introducing
novelty technologies and
products that continuously
develop the Egyptian
pharmaceutical market
A collaborative environment
and partnerships among
leading Arab pharma
organizations can evolve
the Egyptian initiative into a
general Arab experience
“Egypt’s pharmaceutical sector
is seeing increasing attention
from investors and, starting in
2018, we foresee growing stability for businesses capable of
adjusting to the new economics
of a changing industry,” states
Dr. Wafik Bardissi, chairman
and CEO of Minapharm Pharmaceuticals, one of the leading
pharmaceutical companies in
Egypt and the Middle East.
His company is at the forefront of this changing industry.
“The global approach to unmet
medical needs is shifting from
small molecules to complex genetically engineered products
and next-generation advanced
therapy medicinal products
(ATMPs)“
Backed by half a century of experience,
leadership in the pharmaceutical industry and
a broad portfolio of products, Minapharm is
constantly striving to provide innovative
quality medicines and services to patients
in developing countries at affordable prices,
allowing them to get a timely benefit from
the latest advances in pharmaceutical and
biopharmaceutical research technologies.
Dr Bardissi draws a parallelism between
the company and country: “The history of
Minapharm has much in common with the
history of Egypt during the last century; we
have been subjected to the same stress tests
such as going through nationalization, wars,
revolutions, and the devaluation of the pound,
and yet showed outstanding resilience. This is
a great achievement“
Minapharm, with its longstanding expertise
covering a wide spectrum of medicines, ranging
from small molecules to extremely complex
bioengineered proteins, produces more than 150
products under specialized lines in the fields of
gastroenterology, cardiology, ophthalmology,
orthopedics, gynecology, dermatology and
others; ranks among the leading pharmaceutical
companies in the region. Minapharm’s unique
biotech business model allows the company to
offer life-saving and life-enhancing medications,
which are normally very expensive, at affordable
prices as they are manufactured straight from the
cell to the finished product. Dr Bardissi explains
that in order to achieve Minapharm’s mission
‘Innovation made affordable’ and strategic goals,
“Minapharm exploits a robust research and
development platform combined with strategic multi alliances, involving industry players at the
forefront of the latest pharmaceutical technologies,
marketing, and management techniques“
In the late 90s, Minapharm embarked in a joint
venture with a European bio-technology leader to
establish a first of a kind company in Egypt, Africa
and the Middle East, specialised in the research,
development, and manufacturing of complex
genetically engineered products for unmet
medical needs.
In 2010, Minapharm consolidated its business
model by acquiring Probiogen AG, a Berlin-based internationally renowned contract
development and manufacturing organization,
provider of intelligent proprietary technology to
the international biotech industry with a focus
on cellular engineering, process development
and GMP manufacturing. Dr Bardissi states the
positive reflection of this acquisition on the overall
company’s performance: “This transaction provides
a visionary cooperation platform to use German
know-how to develop and market innovative
and affordable medicines, including advanced
immunotherapies that are now in our pipeline.’’ This
operation has gained tremendous interest from
the German and European public, as for the first
time in the industry, the buyer of an established
leading European biotech enterprise comes from
an emerging market such as Egypt.
“While synergy
projects are constantly driving technology transfer
between Cairo and Berlin, investments in two
new facilities are ongoing to push forward the
independent businesses of Minapharm and its
German subsidiary Probiogen, “ Dr Bardissi adds.
Minapharm has achieved the goal of establishing
a sustainable pharma and life science model
based on innovation. Its organizational
intelligence and hybrid research culture provided
the means to produce innovative, affordable
medicines and technologies with strong local
presence and global outreach. It is not unlikely,
to see Minapharm implementing a radically
ongoing transformation of the global healthcare
industry from yesterday’s traditional chemical
compounds to today’s complex genetically
engineered medicines and tomorrow’s advanced
therapy medicinal products. ‘’Minapharm
is committed to maintaining its pioneering
position in introducing novelty technologies and
products that continuously develop the Egyptian
pharmaceutical market,” confirms Dr Bardissi.
The GCC and Arab markets are natural prime
partners for Egyptian businesses given the
geographical proximity, socio-political ties, as
well as economic and market familiarity given the
significant existing cross border investments. In
that sense, Dr Bardissi agrees that the GCC and Arab
markets are the natural extension for Minapharm’s
business development:
“The dynamic complexity
and rapid advances marking the transformation of
the pharma industry are immense. A collaborative
environment and partnerships among leading
Arab pharma organizations can evolve the
Egyptian initiative into a general Arab experience.
The consequent contribution to expansion of
the investment and trade cooperation horizons
between Arab countries is self-explanatory“
