The Wadi Al-Nile Pharmaceutical Company (Genta Pharma), a subsidiary of the Egyptian Investment and Projects Company, and the Emirati company “Unimid,” which specialises in the manufacture of pharmaceutical and medical equipment, have inked a partnership agreement.
In accordance with international best practises, the agreement intends to “supply medications at competitive costs, prevent monopoly in the Arab region’s drug market, and distribute high-quality drug goods to benefit human health.”
The agreement was signed by Sherif Bishara, CEO of Obaid and Mohamed Al Mulla Group, which owns the company «Yunimid», Major General Mohamed Dabour, Chairman and Managing Director of Wadi El Nile Pharmaceutical Company «Genta Pharma».
In a statement released today, Sunday, Bishara stated that this cooperation is a step toward attaining Arab cooperation with regard to the shared Arab market, particularly in the area of health.
“At the moment, we negotiate further strategic alliances between the commercial health sectors of the two nations to produce the drug’s raw materials, with the backing of the public sector,” he continued.
“Genta Pharma, the company, has global capabilities, he added, and this was demonstrated in the production of essential drugs that were in high demand during the “Kofid 19” pandemic, including “Explin” for the treatment of blood clots, which was the first drug ever produced as a substitute.
According to the contract, the UAE company “Yanmid” will distribute pharmaceutical products for the Egyptian company “Benta” in the UAE. These products will be used to treat conditions such as diabetes, cholesterol, anti-vomiting, digestive problems, stomach ulcers, and nutritional deficiencies. They will also lead to medications for conditions affecting the nervous system and anticoagulants.
He emphasised that “Yanmid” presently serves about 224 hospitals and clinics, 776 pharmacies, and 143 businesses across the Emirates with its pharmaceutical services and medical equipment.
Maj.
The Benta Company, in addition to producing injections, has four production lines, one for experimental operations, one for solid tablets, one for solid gelatin capsules, and 120 formulations that are registered with the Egyptian Pharmaceutical Authority.
a collaboration between the UAE and Egypt to sell medications for a reasonable price
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