We have a vision to develop drugs industry and dietary supplements
By Mahmoud Hammad
In an exclusive interview conducted by MEO with Hussam Omran, General Marketing and Director of Pharma International Pharmaceutical Industries (PICO), stated that the company has 13 products in the Egyptian market. In addition, 50 new products will be in the market by 2017. PICO exports 50 per cent of its products, especially to Arab countries such as Sudan and Jordan. Furthermore, Omran moved on to drugs recent prices, asserting that prices will not increase unless the Ministry of Health approves. Finally, he states the only possible way by which the company can achieve success is through complying with the world standards of manufacturing and using the best raw materials.
Can you tell me more about PICO?
PICO was established in 2012 with a capital of EGP 20m. We have two factories in Banha, Al-Qalyubia and 6th of October, the latter is to be licensed.
What is the company’s vision?
As a new establishment, we have an excellent mission in manufacturing human and vet drugs, cosmetics, herb products and dietary supplements. Furthermore, we have a vision in developing the manufacturing process of drugs and we are trying to follow the world’s approach in benefiting from nature and medicinal plants.
How do you plan to develop the manufacturing process?
The company is greatly concerned with developing modern manufacturing techniques; our approach in achieving this is by contracting with the best drugs and cosmetics manufacturers as a start then we will establish our own factory to manufacture all products.
What is the company’s strategy to produce top- quality and competitive products?
The company’s main strategy is to use the best raw materials in manufacturing cosmetics and drugs which comply with the international standards in order to provide the local market with a top- quality product. In addition, the company aims to compete with other companies in the Arab and African markets.
How many products does the company offer in the market?
We have 13 products in the Egyptian market and we are about to offer 50 new products in the market by 2017, they are registered since 2 years ago. We will be able to get the new products in the market by 2017 as drugs’ registration takes 3 years in Egypt.
Can you tell us about your company’s products and the diseases they cure?
The company produces various drugs treating diseases such as gynecology, surgery and skin diseases. Among our products are Ony, Ony Oil, Pico Foot, Drina Wash, Mabby, Teema Soap, Pico Mouth and Zotks Lotion and Shampoo.
Does the company export any products?
The company exports 50 per cent of its products to a number of Arab countries such as Jordan, Sudan and Yeman. Exports seize 50% of the company’s production, the company exports 50% of its products to local markets and 50% to global markets.
How do you view PICO future?
In few years, I believe PICO will be among the excellent companies in drug manufacturing not only in the local market but also in the global market.
What is the influence of added value tax on drugs’ prices?
The Ministry of Health, is the sole entity that can increase drug prices; drugs companies are not allowed to make any price increase within the market.
How does the dollar crisis affect drugs’ manufacturing?
The company imports raw materials and some of their prices rose dramatically. Furthermore, we obtain dollars from banks as our industry is essential and we must be supported by CBE. However, we cannot obtain dollars to pay for imported products, instead, banks transfer money into the importer’s account.