Egyptian pharmaceuticals company Ibnsina Pharma has signed an importation and distribution agreement in Egypt with the multinational firm, Bayer.
The agreement involves importing and distributing products from both Bayer’s Over-the-Counter (OTC) portfolio within its Consumer Health Division, and prescription-based medicine portfolio within its Pharmaceuticals Division.
Bayer is a Life Science company with a 150-year history and core competencies in the areas of healthcare and agriculture. With its innovative products, Bayer improves quality of life for a growing population by focusing their research and development activities on preventing, alleviating and treating diseases. In 2019, the Bayer Group comprised 392 consolidated companies in 87 countries.
Mohsen Mahgoub, Chairperson of Ibnsina Pharma, said, “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.”
Mahmoud Abdel-Gawad, Co-CEO of Ibnsina Pharma, said, “Signing a partnership agreement with Bayer was done after a thorough audit from Bayer on Ibnsina Pharma supply chain capabilities, which is a testament that Ibnsina Pharma is the distributor of choice for both foreign and domestic suppliers.”
He added, “It is also a testament of the success of our business model, which provides our partners with distribution, importation, storage and value-added marketing services.”
Mohamed Galal, Vice President and Head of Consumer Health Middle East at Bayer, said, “At Bayer’s Consumer Health division, our vision is to make self-care for a better life a reality for billions of people around the world through everyday healthcare through our broad geographic footprint and portfolio of leading and trusted brands.”
He added, “I look forward to growing our partnership, offering patients in Egypt access to the latest innovations.”
Samer Lezzaiq, Managing Director Egypt at Bayer, noted that Egypt is one of the largest Pharmaceutical markets in the Middle East and North Africa (MENA) region in terms of volume. Due to this, having the right partner is crucial for Bayer.
Lezzaiq added that Egypt’s Universal Healthcare law, issued back in 2017, is the most significant advance in healthcare provision for half a century, and a major step towards giving all Egyptians the right to health and to access universal quality healthcare. He stressed Bayer’s support to the Egyptian government’s efforts in this field and affirmed the company’s commitment to offer patients in Egypt access to the latest healthcare innovations.
