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BOARD OF
DIRECTORS REPORT TO SHAREHOLDERS
On behalf of the Board of
Directors of EIPICO.
I have the honour of
presenting to you the 1998 annual report.
The results of EIPICO
activities have been extremely favorable.
After thirteen Years since
the start –up of production, the company was
able to create continuous
growth and to strengthen its economic and
Financial statements to
comply with its targets.
To day EIPICO is the
largest local producer of medicine with 8% market
Share and became the
Egyptian Industry Leader in production , sales and exports.
EIPICO aims to continue to
grow through its ambitions targets to increase its value
to benefit of its
shareholders.
EIPICO exhibits one of the
highest operating margins in the Egyptian
Pharmaceutical Industry.
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R&D at EIPICO is concerned with
formulating drug products in their various forms . Physical, chemical, and
biological properties must all be given due consideration in the selection
of components and processing steps for that dosage form
The final product must be one
that meets not only the requirments placed on it from a bioavailability
stand point, but also the practical mass production criteria of process
and product reproducibility as well as the stability studies and proposed
shelf life of such products .
With a rational approach this
required carefull studies on the selection of the several excipients and
manufacturing steps for a given product .
EIPICO research and development
activity are devoted for developing the production of high technology drug
delivery systems . This policy was implemented by establishing a unit for
biotchnology and genetic engineerd products . This unit involves a DNA
lab, protein chemistry lab, fermentation unit and chromatography and gel
filtration lab .
This unit will be concerned with
the production of biological products . Besides EIPICO has a pilot plant
for fine chemical production .
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