Cairo – Mubasher: Egyptian medical firm Gypto Pharma and a number of local companies penned contracts with Saudi Med City Pharma company at an amount of EGP 4 billion ($129.44 million).
The agreements aim to transfer medicines manufacturing technology and production to the Kingdom, according to the Middle East News Agency (MENA).
Under the deal, the entities will produce some of Gypto Pharma's medical brands in Med City's factories in Saudi Arabia.
Amr Mamdouh, Chairman of Gypto Pharma, highlighted that the agreement includes registering some Egyptian drug brands in the Kingdom.
It is worth noting that the deal was inked on the sidelines of the Supply Chain and Logistics Conference 2023, which was held on 22-23 October in Riyadh.