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Egypt signs $120m deal to establish pharmaceutical industrial zone

It will focus on producing key raw materials for the pharmaceutical industry, further strengthening Egypt's self-sufficiency in medicines.

This makes Egypt the first African country to achieve this classification in the field of regulating medicines and vaccines.

Approximately 15 percent of Egyptians suffer from diabetes, which makes the provision of local insulin an urgent necessity to meet the needs.

The EGX-listed firm will fully acquire five companies for a total value of EGP 1.46 billion.

This new medicine is now available at 22 specialised units nationwide, which provide free treatment to patients.

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