ArabFinance: Ibnsina Pharma has retracted from investment in 3elagi tech the company that owns 3elagi application, according to the company statement released on December 14th.

This step comes after the agreement held between the company and syndicates of Pharmacists, which cancelled the call for boycott and suspended lawsuits against Ibnsina.

In November, Ibnsina signed an agreement to acquire a 75% stake in “3elagi Tech” which owns one of the applications that link pharmacies with patients willing to order medicines and cosmetics online.

Ibnsina Pharma invested around EGP 29 million in 2020 in internal digital transformation projects which includes Ibnsina Pharma online ordering application.

In 2021, Ibnsina Pharma plans to invest around EGP 12 million in digital projects.

Ibnsina is an Egypt-based pharmaceutical distribution company. The company distributes a portfolio of pharmaceutical products from over 350 Egyptian and multinational companies to more than 35,000 customers including pharmacies, hospitals, retail outlets, and wholesalers.

 

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