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Thursday, 16 June 2022

Rameda gets its hands on a new molecule

Rameda has acquired a molecule used for treating epilepsy, the pharma company said in a disclosure to the EGX (pdf) yesterday. Known as Lacovimp, the molecule reduces the frequency and severity of partial seizures and was described by the company as “the fastest-growing product within the local market for its corresponding API” with a CAGR of 226% between 2019 and 2021. The product is sold for EGP 136-234 depending on the dosage, and is expected to generate EGP 24 mn in annual revenues for the company.

Real estate developers will be able to offer mortgage financing for customers on units still under construction, after the Financial Regulatory Authority (FRA) approved a mandate to help grow mortgage financing and expand its use, according to a press release (pdf).

Other things we’re keeping an eye on this morning:

  • Mitsubishi Power will supply hydrogen fuel conversion tech to Alexandria National Refining & Petrochemicals Company (ANRPC), enabling it to go 100% hydrogen by the end of 2023. The company’s refinery provides 30% of the country’s gasoline supply. (Statement)
  • Indian clean energy company Acme is looking at potential green investments in Egypt. (Statement)
  • Fawry has launched its Cash-in & Cash-out service in cooperation with the Egyptian Banks Company and Banque Misr. (Statement, pdf)
  • Aman for Microfinance launched its first investment fund “Aman Youm-B-Youm” with Prime Investments. (Statement, pdf)

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