Beyti + United Pharma announce investments to ramp up production
Dairy and juice producer Beyti plans to invest EGP 250 mn in Egypt this year to add new production lines, CEO Mark Wiley said yesterday in a statement carried by Mubasher. The investment will also be used to expand the company’s distribution network. Beyti invested EGP 204 mn in Egypt last year to launch new packaging and production lines, according to Wiley. Saudi dairy product producer Almarai owns and operates the Beyti brand in Egypt as part of a joint venture with PepsiCo.
Meds producer United Pharma will invest EGP 150 mn to upgrade machinery and add production lines at its 10th of Ramadan factory, increasing production capacity by 35%, Al Borsa quoted company head Abdallah Mahfouz as saying. The renovated factory is set to come online by the middle of this year.
About United Pharma: EFG Hermes’ Rx Healthcare Fund acquired some 80% of the company’s shares in an estimated EGP 360 mn transaction in 2019, and reportedly pumped EGP 100 mn into the company the following year to finance expansion plans.
Shipping squeeze hits the pharma industry: Industry players are set to meet “soon” with the head of the Egyptian Drug Authority to discuss rising input prices, Al Borsa quoted Mahfouz as saying. The price of some raw materials used in the pharma industry has more than doubled on the back of higher shipping costs, Mahfouz reportedly said, leading to higher prices for meds and shortages of some products.