Egyptian company to help Kazakhstan build cancer drug plant
The Egyptian International Pharmaceuticals Industries Company (EIPICO) plans to invest approximately $33 million in constructing a full-cycle biopharmaceutical plant in Kazakhstan. According to the Ministry of Healthcare, the plant will produce highly similar copies of existing biological drugs called biosimilars and cancer treatment medications.
The project is expected to create around 200 jobs for Kazakhstani citizens. The ministry stated that the plant’s construction «will strengthen Kazakhstan’s position in the pharmaceutical sector, contributing to the localization of essential drug production.»
Earlier this spring, Madina Abdikadyr, a representative of the national company Kazakh Invest, met with Ahmad Kilani, chairman of EIPICO. At that time, it was announced that the plant would be built at the Saran industrial zone in the Karaganda region. Additionally, it was reported that the cancer treatment products would be sold not only in Kazakhstan but also exported abroad. Abdikadyr noted that the biopharmaceutical plant would be the first full-cycle production facility of its kind in Kazakhstan.
A similar announcement was made by the $32.4-million state-owned OtarBioPharm plant, constructed in the summer of 2021 in the Zhambyl region. The plant produces Kazakhstan’s QazVac coronavirus vaccine, along with vaccines for influenza, tuberculosis, brucellosis, nodular dermatitis and other infectious diseases. It was supposed to reach full capacity after launching its active substance production facility in August 2023. However, there is no confirmed information on whether the plant has achieved full capacity.
EIPICO, founded in 1980, is now Egypt’s largest pharmaceutical manufacturer, offering 276 drugs across 25 therapeutic groups. The company’s products account for 21% of Egypt’s pharmaceutical exports. EIPICO is 50% owned by the Arab Company for Drug Industries and Medical Appliances (ACDIMA), which was established in 1976 by a resolution of the Council of Arab Economic Unity (CAEU).
EIPICO’s net profit for the first six months of 2022 (the most recent data from open sources) amounted to $6 million, marking a 21.4% increase year-on-year (YoY). The company’s revenue grew by 12.1%, reaching $34 million during the same period. Over the period from January to June 2022, EIPICO’s assets totaled $119 million and equity amounted to $57 million.
In mid-June, President Kassym-Jomart Tokayev announced that South Korean company GL Rapha would start building a biopharmaceutical plant in Almaty. Additionally, plans are underway to open South Korean diagnostic centers and multidisciplinary laboratories in Kazakhstan.
