Egypt’s Memphis Pharmaceuticals recorded a 32 percent net profit drop for fiscal year 2002/2003, reaching 20.2 million Egyptian pounds ($3.2 million) compared to EP 29.5 million during the previous year, reported TAIB Securities .
Founded in 1940 as Egypt's first pharmaceutical company, state-owned Memphis operates two factories and produces approximately 190 products, 40 percent under license. The company, which is 40 percent privatized, is also the world's leading producer of kidney, colic and psoriasis treatments. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
