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A statement to the stock exchange: A pharmaceutical company discloses the cancellation of the manufacture of a preparation to treat the symptoms of Corona


Saba International Company for Pharmaceuticals and Chemical Industries said, in a statement to the Egyptian Stock Exchange, today, Sunday, that it decided to stop the process of manufacturing a preparation for the treatment of symptoms of the Corona virus, Favipitavir, due to the lack of economic feasibility of producing the product.

 

In July of 2020, the Sheba International Pharmaceutical Company announced obtaining initial approval for the production of Favipiravir, one of the medicines used to treat symptoms of the emerging corona virus, with an expected production capacity of 250 thousand doses within 6 months from the start of production in batches according to the demand of the local market, at the price of one dose. From 1000 to 1200 pounds.

 

Saba International Company for Pharmaceuticals and Chemical Industries achieved revenues during the first three months of 2021 amounting to 10.62 million pounds, compared to 20.57 million pounds during the same period last year, and a net profit of 2.22 million pounds from the beginning of January until the end of last March, compared to 3.16 million pounds in profits. During the same quarter last year.

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