ArabFinance: October Pharma (OCPH) aims to inject EGP 85 million investments in 2021 through self-financing and joint banks, according to the Managing Director Hisham Abdel Aziz.

The company aims at increasing its production capacity to enhance its profitability and conclude new manufacturing contracts with international companies.

Abdel Aziz said that the company implemented an investment plan in 2020, including adding a new production line for drinks with a financing of EGP 20 million, in addition to introducing alcohol production with a concentration of 70%.

The company also increased its production of zinc and antibiotics that are included in COVID-19 treatment protocol.

 Abdel Aziz further noted that October Pharma’s 2021 investment plans includes launching a new line of ointments, and the expansion in tablets and capsules lines with self-financing and bank financing by one third and two thirds, respectively.

The company deals with a number of banks to finance its investments, including Alexandria Bank, the Commercial International Bank (CIB), and the Saudi Investment Bank (Saib).

The managing director concluded that the impact of the investment plan for 2020 and 2021 will be reflected on the company’s financial results of 2022 to increase its profitability.

The listed-company reported a 228% Year on Year jump in its net profit for the first nine months of 2020, registering EGP 60.66 million, compared to EGP 18.5 million in the same period of 2019.

October Pharma is an Egypt-based company engaged in the production of human pharmaceutical preparations. The company’s major shareholders include the Arab Company for Drug Industries and Medical Appliances as well as the Saudi-Egyptian Industrial Investment Company.