EIPICO (Egypt) takeaways – Exports increased 20% during 9M2015
EIPICO has been able to increase its market share in terms of volumes to 9.5% in 2015 up from 9.2% in 2014 and is ranked 3rd, while market share in terms of value was down to 4.6% in 2015 versus 4.8% in 2014 and is now ranked 5th. - The government has approved price increase for 7 products for EIPICO (7% of revenue). It expects further increases in the next few month for more 14 drugs (3% of 2014 revenue). - The company expects to maintain revenue and earnings growth of 10-12% Y-o-Y in 2016 excluding price increase and hepatitis c drug, and a capex of EGP120 million. - It has registered for the hepatitis c drug sovaldi and is in the process of registering for other hepatitis c drugs. - Exports increased by c20% during 9M2015 and represents c23% of total revenue. The contribution of export by country is as follows: Saudi 30%, CIS 21%, Africa 17% and Romania 12%. Exports covers c80% of raw material imported (25% of COGS). (Tarek El-Shawarby, company)
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