Biocad, a Russian biotech company, plans to open its representative office in Egypt by the end of 2017. The company also does not exclude that it may localize the manufacturing in the Russian Industrial Zone in Egypt. This was announced by Oleg Pavlovsky, Vice President – Marketing and Sales at Biocad.
“We are considering opening a representative office in Egypt with an eye to the entire Middle Eastern market. In addition, we are currently building the logistics in this region and, therefore, exploring various options. We are also open to localization in the region and, therefore, we will look with great interest at the development of that project (Russian Industrial Zone in Egypt). Today, we are already operating in several countries of the region,” said Mr. Pavlovsky.
If Biocad decides to localize the manufacturing, the project will probably involve a local player, added Mr. Pavlovsky. “We are open. We have a project, which we are implementing together with a local partner. It is quite possible that, in the future, this will result in localizing the manufacturing in Egypt, or another country in the region, as it already happened in Morocco,” said the Vice President – Marketing and Sales of Biocad.
Currently, Biocad is registering in Egypt three monoclonal antibody-based drugs for the treatment of oncological diseases (rituximab, trastuzumab, and bevacizumab). According to Mr. Pavlovsky, by 2022, the company will be able to earn $60-70 million in the Egyptian market. “This is the minimum that we expect,” he said.