Ibnsina Pharma Signs an Importation and Distribution Partnership with Mundipharma in Egypt
Ibnsina Pharma expands business with Mundipharma by signing an importation and distribution partnership. The strong relationship between the two companies resulted in adding Mundipharma imported products to ibnsina Pharma portfolio.
Cairo, 28 November 2019…
Ibnsina Pharma (ISPH.CA on the Egyptian Stock Exchange), Egypt’s fastest-growing and second-largest pharmaceutical distributor, has signed an agreement with Mundipharma in Egypt, a global pioneer in pharmaceuticals and diagnostics, to import and distribute Mundipharma imported products in Egypt. The strong relationship between the two companies resulted in expanding business to see Ibnsina Pharma adding Mundipharma’s imported products beside Mudipharma’s local products which ibnsina Pharma already distribute in Egypt. Mundi pharma products covers six therapeutic areas; pain, oncology, respiratory, ophthalmology, specialty care and consumer health supporting over 4 billion patients across the globe.
“We are excited to have partnered with Mundipharma, a multinational company with a visionary approach and innovative spirit that improve the health and well-being of people around the world. This strategic partnership will allow Ibnsina Pharma to not only further strengthen its product offering but will give patients across Egypt unprecedented access to the latest pharmaceutical treatments available,” said Mohsen Mahgoub, Chairman of Ibnsina Pharma. “Expanding business with Mundipharma Egypt is a testament to the success of our business model, which provides our partners with distribution, importation, storage and value-added marketing services and has allowed us to become the distributor of choice for both foreign and domestic suppliers. The agreement capitalizes on Ibnsina’s wide distribution network. We expect to generate around 120 million EGP in sales from all Mundipharma’s products by end of 2020,” said Mahgoub.
Mundipharma Egypt aims for expanding its network of partners that offers the best support to patients to be able to access their innovative therapies and expand their coverage all over Egypt. Ibnsina Pharma has over 350 international and domestic suppliers who trust Ibnsina Pharma to distribute their products to over 42,000 pharmacies, retail chains,wholesalers and healthcare institutions across Egypt’s governorates.
“Mundipharma aims to improve the lives of those who need our medicine the most, enabling everyone to live better. Mundipharma have 38 products across six therapeutic areas with a distribution network covering six continents through 8 manufacturing sites. We are feeling optimistic to sign this distribution agreement with Ibnsina Pharma, trusting the high-efficiency, and the level of services offered to support our patients throughout Egypt. I look forward to growing our partnership, offering patients in Egypt access to the latest innovations” said Dr. Ashraf Allam, Vice President Mundipharma Middle East, Africa, Turkey at Mundipharma.