Cairo – Mubasher: The board of Memphis Pharmaceutical and Chemical Industries has approved to obtain financing packages from Abu Dhabi Islamic Bank (ADIB).

Through the facility, the company will pay off its debt owed to El Gomhouria Company For Drugs and support its compliance with the good manufacturing practice (GMP) regulations, according to a bourse filing on Tuesday.

It is noteworthy to mention that in the July-September period of fiscal year 2021/2022, Memphis recorded net profits of EGP 4.41 million, compared to EGP 8.03 million in the year-ago period.