Press Release | June 28, 2004

Another strategic alliance for Minapharm

Another strategic alliance for Minapharm

On 28th June, 2004, Minapharm signed a license manufacturing agreement with Hexal AG to manufacture 25 products of different pharmaceutical forms. This cooperation introduces a new segment in the Egyptian market: brand generics. Brand generics are bioequivalent copies of original drugs but carry a brand name.

Hexal AG, a German-based company, is specialized in brand generics. With subsidiaries, representative offices and strategic partners in over 40 countries around the world and 6,500 highly qualified employees, Hexal places 2nd in Germany with regard to the number of prescriptions. Today, Hexal ranges among the leading international groups of pharmaceutical companies.

The first product of Hexal to be launched in the Egyptian market is one of its most famous products in Germany: Lorano, an anti-allergic. Another product mix will be introduced over a span of 4-5 years.

Dr Wafik Bardissi, Executive Vice President, Minapharm; Dr. Farid Eissa, Managing Director & Board Member, Hexal Egypt; Mr. Sany Eissa, Financial & General Administration Manager and Ms. Ilona Putz, Regional Director, Hexal, after signing the agreement.