Interview with Dr. Ihab Kaldas
Chief Commercial Officer of SEDICO Pharmaceuticals Co., Egypt
  • Dr.Ihab Kaldas
    Dr. Ihab Kaldas
  • In a recent interview with Noozz’s Pharmaceuticals Industry Analyst on October the 30th.2009,With the Chief Commercial Officer of Egypt-based SEDICO Pharmaceuticals, Dr. Ihab Kaldas.

    Dr. Ihab Kaldas, said that:
    “In Egypt, we did not notice any impact of the global financial crisis, but we anticipate that it will affect us from February 2010 onwards.” He added that the pharmaceutical industry in Egypt has been growing by 14% - 17 % in recent years, “and we expect the same for 2009.”

However, he cautioned that another big pharmaceutical market in the region, the UAE, has already been affected by the crisis, saying that the market there grew by around 15% in recent years, but this year we only expect growth of about 7%.”

Questioned about SEDICO’s exports he revealed that:
“Our aim is for exports to constitute 15% - 20 % of our revenues. However, it is going to be less than that this year, as the effects of the global financial crisis became apparent in our Eastern European markets about four months ago. We expect these problems to increase. As for our domestic market, we expect a further decrease in the healthcare budget and hence a decline in the current per-capita health expenditure of around $105.”
He added that problems in Egypt are exacerbated by the fact that pharmacists in rural areas can prescribe any type of drugs they like without any control, thus contributing to a big counterfeit drug market.

Asked about SEDICO’s position as an insulin manufacturer he said that:
“Production is going very well, and [having started insulin production in 2001 in collaboration with the Akzo Nobel Corporation] SEDICO is already operating in the UAE.”
He added that there are only three multinational producers of insulin and that SEDICO is hoping to operate in Romania and other Eastern European countries by Q4 2011.