Wednesday 30 Oct
The 10th of Ramadan for Pharmaceutical Industries and Diagnostic Products (Rameda) has announced the acquisition of a new drug used in the treatment of type 2 diabetes.
The company stated in a press
release that this is the largest acquisition in Rameda's history, significantly
expanding the company's portfolio of high-margin, recurring revenue products in
the field of chronic disease treatment.
The acquired drug holds the top
market share of 9% in its therapeutic category, with a total value exceeding
6.7 billion Egyptian pounds and 31.3 million units sold. Rameda expects the
product to generate sales of up to 400 million Egyptian pounds in the coming
year.
According to the statement, the
product has achieved a compound annual growth rate of 60% in value and 42% in
units sold over the past three years. It is available in four different
concentrations and has an average price of 130 Egyptian pounds per pack, which
is higher than the average price of Rameda's products.
Amr Morsi, CEO of Rameda, expects
the new product to contribute to a 10% increase in Rameda's annual sales in
2025, raising the proportion of revenue from chronic disease treatment drugs to
over 60% of the company's total revenue.
It is worth noting that Rameda achieved a profit of 123.6 million Egyptian pounds during the first half of 2024, compared to 119.01 million Egyptian pounds in the corresponding period of 2023. The company's revenue increased to 1.02 billion Egyptian pounds during the same period, compared to 842.43 million Egyptian pounds in the first half of 2023.
