Ibnsina marks profit of LE 27.9M in Q1 2018

CAIRO – 14 May 2018: Ibnsina Pharma marked a profit of LE 27.9 million ($1.56 million) during the first quarter of 2018, up from LE 19.10 million, with an increase of 46 percent.

The company’s financial indicators revealed recording revenues of LE 2.9 billion during the three months ending March 2018, compared to LE 1.9 billion in the same months of 2017.

Ibnsina marked an increase of 67.21 percent in 2017, recording LE 170.14 million, compared to 101.75 million in 2016.

“Our solid performance underscores Ibnsina Pharma’s ability to consistently outperform against a challenging and often unpredictable economic environment. At a time when global pharmaceutical industry trends are moving toward market consolidation, particularly in the distribution and retail space, Ibnsina Pharma has delivered organic growth across all existing business lines by optimizing its distribution network and expanding its product offering through accretive agreements with global pharma manufacturers,” Omar Abdel Gawad, co-CEO of Ibnsina Pharma, said.

“Ibnsina Pharma has developed one of the largest product portfolios in Egypt with over 9,500 SKUs and is the preferred wholesaler to numerous globally established and branded pharma products,” Mahmoud Abdel Gawad, co-CEO of Ibnsina Pharma, said.

"Our distribution capabilities are supported by a network of 56 sites and a fleet of 625 vehicles, ensuring timely delivery to our clients across the country. Our clients count on us to provide the highest quality service and support that extends beyond the delivery of products, while our suppliers view us as partners in driving sales and meeting their targets,” Mahmoud added.

Established in 2001, Ibnsina Pharma is a private company operating within the pharmaceuticals, biotechnology and life sciences sector, focusing on pharmaceuticals.