Thursday, March 1, 2012

Egypt - EIPICO shuts down 10th of Ramadan facility as employee strike continues

EIPICO management decided to close down its 10th of Ramadan facility starting Tuesday, February 28th, 2012, as employees continue to strike. The company’s release also mentioned that its other facilities are working smoothly with no interruptions. It is not yet clear as to the extent of the losses or when the plant will re-start operations. 

Egyptian International Pharmaceutical Industries Company (EIPICO) is an Egypt-based public shareholding company that operates in the pharmaceuticals industry. The Company is a manufacturer and exporter of pharmaceuticals, and holds license agreements with a group of international pharmaceutical companies to produce their products locally and replace the imported ones. It manufactures its products in different pharmaceutical forms, including soft gelatin capsules, lyophilized products, gels, sprayers and effervescent tablets. EIPICO exports its products to more than 60 countries across the Middle East, Africa, Asia and East Europe. Its products include anesthetics, analgesics, antibiotics, blood substitutes and restoratives, dermatological drugs and vitamins and minerals.