Agon: From Pharmaceutical Dream to Regional Powerhouse
Updated 9/10/2024 8:00:00 AM
Arab Finance: In the ever-evolving pharmaceutical sector of Egypt, Agon has emerged as a leader in innovation and flexibility. Established with the mission to deliver customized consulting services tailored to the regional market, Agon plays a crucial role in navigating the industry’s complexities.
The Egyptian pharmaceutical market is on a growth trajectory, anticipated to expand at an annual rate of approximately 8% from 2023 to 2028. This growth is fueled by rising healthcare needs and government efforts to enhance local production capabilities.
Amid challenges like swift regulatory shifts and the push for advanced manufacturing technologies, Agon is dedicated to utilizing its extensive local insights while broadening its market presence.
In this interview, Yara Al Mouti, CEO of Agon, discusses the motivations behind Agon’s establishment, its strategic approaches for maintaining competitiveness, and the importance of Pharmaconex 2024 as a key event in shaping the future of Egypt’s pharmaceutical landscape.
1-What is the inspiration behind creating Agon? And what innovative strategies does Agon implement to stay competitive in the pharmaceutical market?
Agon was an evolving concept that I developed while working in the pharmaceutical industry. At that time, finding a reliable and knowledgeable consulting company that understood the regional market and its nuances was merely a dream.
Our primary strategy has always been to adapt to the changes around us. It is essential to be swift and assertive in creating new products, entering new markets, and responding to changes, regardless of how rapid and aggressive they may appear.
2-What are Agon's plans for expanding its market presence locally and internationally?
Agon currently has a very ambitious plan in motion, targeting North and Central Africa.
Also, as part of our 2028 expansion plan, we are preparing a plan to enter our first non-Arabic speaking market in Eastern Europe.
3-How do you see Pharmaconex 2024 shaping the future of the pharmaceutical industry in Egypt and Africa?
Agon has been a part of Pharmaconex for the last five or six years and has observed the deals and opportunities executed and created in the event.
Each year, the size of the opportunities expands as the event becomes a destination for more companies, decision-makers, and investors.
With this acceleration, we believe Pharmaconex is on track to become a premier destination in the pharmaceutical sector across the Middle East and Africa.
4-How can Agon's consulting services help pharmaceutical companies capitalize on the opportunities presented at Pharmaconex?
We offer a wide range of services. But recently, inspired by the incredible growth in the newcomers manufacturing sites under construction, we are utilizing our presence at Pharmaconex to work on our running and potential engineering projects.
At Pharmaconex, we meet with clients, vendors, engineering, and turnkey companies, connecting our investors with all the stakeholders they need through their journey.
5-What are Agon's insights on key topics at Pharmaconex 2024, such as achieving quality standards and digital transformation?
As the technical conference partner, we co-design topics with Informa Egypt. The topics are usually inspired by the changes and shifts in regulations and trends leading the global pharmaceutical industry.
6-Could you share the company's revenue growth rate for the past year and projections for the upcoming year?
Usually, our growth rate ranges between 20% and 25% year-over-year. With our recent expansion into Saudi Arabia, we aim to increase this rate.
7-What are the current biggest challenges facing the pharmaceutical sector in Egypt and the Middle East?
The most crucial challenges can be summarized in the following:
- Access to a new market
- Rapid regulatory and compliance changes
- Access to high-tech products for manufacturing
- Adapting to localization policies across different countries in the region
8-With North African pharmaceutical industries projected to achieve an annual growth rate of 8%, what strategies or initiatives should Egyptian companies adopt to remain competitive?
Egyptian companies should focus on next-generation products and establish a local presence in some African countries, either as manufacturers or partners. This will help these companies to maintain their presence and sales.
9-What trends do you foresee shaping the pharmaceutical industry in the coming years? And how is Agon preparing for them?
Digital transformation and drifting from conventional manufacturing facilities to more complex technology manufacturing lines are key, making Agon ahead of the curve.
We provide our clients with a bundle of digital transformation solutions, while matching our clients with global companies to facilitate the transfer of sophisticated and complex technologies to the region.
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