Cairo – Mubasher: Egyptian International Pharmaceutical Industries (EIPICO) announced that its board of directors has approved to purchase 4.78 million shares in Medical Union Pharmaceuticals (MUP).
EIPICO aims to buy Egy Lease’s 9.77% stake in MUP, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
During the first quarter of 2019, the Egyptian firm’s net profits rose to EGP 218.31 million, compared to EGP 183.97 million in the year-ago period.
Year-on-year, net sales surged to EGP 915.26 million in the three-month period ended 31 March, compared to EGP 732.08 million.
As for standalone business, EIPICO’s profits hiked to EGP 203.31 million in Q1-19, compared to EGP 172.66 million in Q1-18.
