CAIRO, April 18 (MENA) - Prime Minister Moustafa Madbouli Saturday said that the state attaches great importance to the sector of pharmaceutical industries, with further facilitation and incentives are introduced to attract more investments to this vital sector, in accordance with directives of President Abdel Fattah El Sisi.

Madbouli made the remarks during a tour of a number of factories of the 10th of Ramadan city, including the factory of Utopia Pharmaceutical Company.

During his tour, the premier was accompanied by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir, Chairman of the Egyptian Drug Authority Ali Ghamrawy and Managing Director of Utopia Pharmaceutical Company Saied Kamel.

Madbouli emphasized the importance of localizing and developing the pharmaceutical industry in Egypt and transferring modern technologies applied in this field.

For his part, industry minister Wazir highlighted initiatives and facilitation provided to support the pharmaceutical industry in Egypt. These initiatives have contributed to increasing production and enhancing competitiveness of Egyptian products.

At beginning of the tour, the premier was briefed by Head of Utopia Pharmaceutical Company Kamel on the components of the factory which is erected on a total area 18,000 square meters, with an investment cost of amounting to 1.350 billion pounds.

The factory comprises six production lines, Kamel said, adding that the Utopia company is one of the mega pharmaceutical companies operating in the Egyptian market.

The strategy of Utopia factory seeks to reduce the import of finished medicines, and increase exports of the finished products by registering and marketing products currently imported from abroad, and providing the required technology to produce them locally.

During his tour of the factory to observe the various manufacturing stages, processes, and production lines, Madbouli was posted by Factory Manager Wael Fattah on the tablet and capsule preparation lines, and their packaging lines.

Fattah said that the current production stands at 120 million packages annually, noting that the factory is ready to double its production capacity.

He added that the total number of products currently produced by the factory records 185, of which 73 products are registered and marketed, while procedures are still underway to complete the registration of the remaining 112 products.

Fattah said that the company's sales in 2024 exceeded 2 billion pounds, while the exports of the company reached 320 million pounds.

The manager of the factory added that local component accounts for 90 percent of products manufactured by Utopia company. (MENA)

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