GlaxoSmithKline to Invest £500 Million in Egypt Healthcare
April 11, 2011
Daily News Egypt reports, GlaxoSmithKline Consumer Healthcare announced they will invest approximately £ 500 million in Egypt’s healthcare sector. “Our main goal over the next five years is to focus this investment towards three aspects: manufacturing, employment, and advertising,” said Ambati Venu, vice president & general manager of GSK CH for Middle East at a press conference on 10 April. GSK will focus primarily on expanding products under the brand names of Sensodyne and Panadol, two products that are already widely distributed throughout the Egyptian market. In collaboration with GSK, Egyptian company EVA-Pharma, the fastest growing pharmaceutical company in the MENA region, will be producing Sensodyne. Alexandria Pharmaceutical Company, on the other hand, will continue to produce and expand on Panadol medicines.