ArabFinance: Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) submitted a non-binding letter of interest to acquire 91.2% of the share capital of Glaxo SmithKline (GSK - Egypt) (BIOC), the listed Egyptian subsidiary of GlaxoSmithKline plc group of companies (GSK Group), according to a statement to the Egyptian Exchange on February 2nd.

Rameda reported a 117% Year on Year leap in its consolidated net profit in the first nine months of 2020, recording EGP 68.66 million, compared to EGP 31.61 million in the same period a year ago.

Rameda is an Egypt-based pharmaceutical company that manufactures both human and veterinary pharmaceuticals. It operates three fully independent factories at its plant, including 20 production lines capable of producing a wide range of general medicinal forms, namely eye drops, solid dosage forms, syrups, blow-fill-seal, and lyophilized vials, among others.

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