Medical Union Pharmaceuticals has offered $4 million to buy a plant for insulin production, which is owned by Eli Lilly in Six of October City.
The company announced earlier it was targeting the actual production of Ismailia plant early in September following the trial operation of the plant in June.
The drugs manufacturer had posted EGP 167.1 million net profit in FY13, with 21.4% fall year-over-year from EGP 212.7 million.