- Marcyrl Pharmaceutical get investments from Development Partners International and Amethis meant to promote greater access to critical care medications in Africa.
- Through its global distribution network, Marcyrl’s goal is to increase access to specialised medications in Egypt and throughout Africa
- Africa has a sizable pharmaceutical industry worth US$18 billion annual demand for packaged medicines, Nevertheless, over 60 per cent of goods are still imported.
Leading Egyptian pharmaceutical company, Marcyrl Pharmaceutical Industries, which specialises in specialty generics, on thursday 6 2023, revealed a new investment meant to speed up its goal of promoting greater access to critical care medications throughout Africa.
The infusion of a substantial minority investment from Development Partners International and Amethis will enable the company to strengthen its institutional framework, leverage its prominent market position, and diversify its product portfolio. This strategic move will enhance the company’s growth potential and create opportunities for increased profitability.
Marcyrl, which was founded in 1998, is a renowned producer of vital pharmaceuticals with an emphasis on enhancing Egypt’s access to specialty generic medications. Since its inception, the company has grown significantly with steady sales, as shown by a good performance in the previous year. Revenues now account for more than 2% of the Egyptian market.
Through its global distribution network, Marcyrl’s goal is to increase access to specialised medications in Egypt and throughout Africa. To do this, the business is venturing into new specialty fields like novel hormonal therapy procedures, that it incorporated to its existing portfolio in 2016. It is also investing in and innovating within its product portfolio.
Additionally, Marcyrl has proven its market-leading ability by being the first to develop and introduce its antiretroviral product portfolio in 2015, which gave it entry to the lucrative tender market. These therapies for Hepatitis C are extremely effective.
US$18 billion: Annual Demand of Medicine
With a US$18 billion annual demand for packaged medicines, Africa has a sizable pharmaceutical industry. Nevertheless, over 60 per cent of goods are still imported, which limits their availability and affordability for communities all over the region.
Given chronic diseases and illnesses on the increase, one of this industry’s fastest growing segments is the market for specialty generics. Marcyrl, a leader in pharmaceutical innovation, is in a good situation to seize this chance and contribute to satisfying this rising demand.
“At Marcyrl, we are working to transform the way speciality treatments are rendered available across Egypt and the whole of Africa, ensuring that speciality care treatments are available to those who need them the most,” said Farid Habib Salib, Chairman of Marcyrl Pharmaceutical Industries.
Drawing on our twenty-two years of success, we’ll keep innovating across all of our goods, especially in specialty generics’ high-growth markets, creating much-needed treatments for customers all over the continent.
We are happy to have DPI and Amethis as new foreign investors and look forward to collaborating with them in order to accelerate our development and investigate new possibilities for providing vital, affordable solutions to healthcare professionals and their patients throughout Egypt and Sub-Saharan Africa.
“At Marcyrl, we are working to transform the way speciality treatments are rendered available across Egypt and the whole of Africa, ensuring that speciality care treatments are available to those who need them the most,” said Farid Habib Salib, Chairman of Marcyrl Pharmaceutical Industries.
Plans to invest in Novel treatments for chronic diseases
Since its inception, Marcyrl has risen to become one of the top 10 pharmaceutical companies in Egypt, ranking alongside national and international competitors. It is also known among medical professionals in the area as a reliable partner and a go-to source for specialty generic medications for a range of chronic diseases.
Marcyrl will be able to capitalise on its strong market position thanks to the capital from DPI and Amethis. It will also be able to improve the path to market strategy and foster innovation in new fields, such as the creation of a new high-tech manufacturing facility in Egypt that will concentrate on developing novel treatments for chronic diseases.
“Marcyrl has established a distinctive position for itself in the market and is known as a reliable partner in Egypt for the delivery of specialty generics by utilising its first mover advantage in important specialty areas of the pharmaceutical industry,” said Ziad Abaza, Managing Director at Development Partners International.
With a strong foundation in Egypt and a scalable platform that is well positioned to expand its distribution and export network across the continent, the business has a significant runway for growth.
This is thanks to the entrepreneurial mindset of the Marcyrl management team and the company’s rich history of innovation. We are eager to collaborate with the Marcyrl team to assist the company during its upcoming phase of expansion.
“We are very happy to be investing in one of the top pharmaceutical companies in Egypt, operated by an accomplished and ambitious management team,” said Toufic Khoueiry, Partner at Amethis.
We look forward to working together with Marcyrl’s leadership and shareholders to realise our common goal of growing the business and enhancing access to trustworthy and reasonably priced medications throughout Egypt and the rest of Africa.
DPI and Amethis will help Marcyrl emulate its achievements in Egypt in new markets by supporting its digitalization efforts and utilising modern technology to boost efficiency throughout its production facilities and distribution networks. They will combine their knowledge to assist enterprises to expand sustainably across the continent.
The investors will also aid Marcyrl in further institutionalising the company, facilitating technology alliances, and enhancing its connectivity to global export markets, creating new channels for distribution.
Freshfields Bruckhaus Deringer, White & Case, and PWC served as the transaction’s legal and finance advisors, advising DPI and Amethis, respectively. HC Securities & Investment, acting as sell-side adviser, and Zaki Hashem & Partners, acting as legal advisor, provided advice to the Marcyrl shareholders.
Read: Africa’s potential as a medical tourism hub
