Ib­nsina Pharma signs con­tracts with Novo Nordisk to dis­trib­ute prod­ucts in Egypt

The Daily News Egypt - - News -

Ib­nsina Pharma has signed two con­tracts with Novo Nordisk, lead­ing man­u­fac­turer of in­sulin and haemophilia treat­ment, to dis­trib­ute over 20 stock-keep­ing units of its di­a­betes care and haemophilia and growth dis­or­der prod­ucts in Egypt on Tuesday.

“We are in­cred­i­bly proud and ex­cited by this new op­por­tu­nity to dis­trib­ute Novo Nordisk’s life-sav­ing di­a­betes care and haemophilia and growth dis­or­der prod­ucts across Egypt,” said Mohsen Mah­goub, chair­per­son of Ib­nsina.

Ib­nsina Pharma in­vested EGP 2m in ad­di­tional ware­hous­ing fa­cil­i­ties, and al­lo­cated 28 spe­cialised trucks to de­liver Novo Nordisk’s cold-chain prod­ucts.As part of the con­di­tions to at­tain these new con­tracts, Ib­nsina Pharma also passed Novo Nordisk’s due dili­gence and op­er­a­tional au­dit to meet in­ter­na­tional stan­dards.

“Our in­vest­ment to ac­com­mo­date these con­tracts is the first ex­e­cu­tion in our plan to in­vest EGP 700m in new sites and the ex­pan­sion of Ib­nsina Pharma’s net­work over the next five years,” Mah­goub said.

He added, “this ex­pan­sion was made pos­si­ble by our suc­cess­ful IPO, which took place in the fourth quar­ter of 2017 and was 18 times over­sub­scribed.”

Glob­ally, Egypt is one of the ten largest coun­tries, in terms of pop­u­la­tion, where di­a­betes af­fects more than 7.8 mil­lion pa­tients. Novo Nordisk cur­rently holds over 60% of the in­sulin mar­ket share in Egypt.

“Di­a­betes is soaring in Egypt with around 8 mil­lion Egyp­tians di­ag­nosed with the dis­ease in 2017, ac­cord­ing to the In­ter­na­tional Di­a­betes Foun­da­tion (IDF),” said Has­san Fahmi,gen­eral man­ager of Novo Nordisk Egypt.“At Novo Nordisk, our main ob­jec­tive is to best serve Egyp­tians with di­a­betes and other chronic dis­eases in col­lab­o­ra­tion with all stake­hold­ers. We are hon­oured to be in this part­ner­ship with Ib­nsina Pharma to en­able wider and more con­ve­nient ac­cess to our prod­ucts through the na­tion­wide dis­tri­bu­tion net­work of Ib­nsina Pharma,” he added.

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