Arab Finance: The Egyptian International Pharmaceutical Industries Company (EIPICO) (PHAR) has signed a cooperation agreement with the Greenmia Alliance and EL Square to facilitate and support the implementation of the EIPICO Pharma 4.0 program for the digitalization of production processes, according to a filing to the Egyptian Exchange (EGX) on June 16th.

The agreement will help implement the technologies of the fourth industrial revolution to conduct a comprehensive digital transformation of the elements of production lines, supply chains, and warehouses through work and knowledge of global technical expertise.

The EIPICO Pharma 4.0 project comes in line with the company's plan to develop the technological infrastructure in line with the state's directives regarding the localization of the pharmaceutical industry.

The project is set to be carried out with around EGP 20 million in investment.

Once implemented, the EIPICO Pharma 4.0 will help in saving not less than EGP 30 million annually.

“This project will be linked with the company's Enterprise Resource Planning (ERP) system to achieve homogeneity between all departments, to maximize benefit from the project and improve the decision-making mechanism,” Chairman and Managing Director of EIPICO Ahmed Kilani said.

EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international.