Bayer, a German pharmaceutical and biotechnology multinational company, will establish an over-the-counter (OTC) drugs production hub in Egypt under the Egyptian Drug Authority’s auspices with investments worth EGP 240 million, which account for more than $12 million.
Bayer announced its three-year strategy to expand its business operations to the Egyptian market by producing 60 to 70% of its OTC drugs for consumers locally and will re-launch five new consumer health-related products by the end of 2025.
This collaboration aims to offer patients in Egypt access to the latest innovations in the field of consumer health.
Tamer Essam, Chairman Of the Egyptian Drug Authority, had met earlier this month with Dirk Ossenberg-Engels Senior Vice President at Bayer Consumer Health and Head of Emerging Markets to discuss ways of cooperation and to localize Bayer products in Egypt, and discuss mechanisms for making Egypt an export center for Africa and MENA within the framework of the localization of pharmaceutical industries in Egypt and Egypt Vision 2030.
The EDA has recently reformed some of its policies to promote localization efforts by providing flexible regulations for licensing drugs and fast-track clearance for new products and offering technical assistance to facilitate the registration and launch of all the drugs that are intended to be made locally.
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