Cairo – Mubasher: Minapharm Pharmaceuticals announced the establishment of an Egyptian joint stock company under the name Minapharm for Trade and Distribution.

The pharmaceuticals company owns 95% of the new company’s issued and paid-in capital which stands at EGP 1 million, according to a statement to the Egyptian Exchange (EGX) on Monday.

It is noteworthy that during the first nine months of 2019, the EGX-listed firm logged a net profit of EGP 73.9 million, compared to EGP 117.39 million in the prior-year period, including minority shareholders’ rights.