ALGIERS – Thursday, 28 December 2023 (APS) – The CEO of the public pharmaceutical group, Saidal, Ouacim Kouidri said Wednesday, in Algiers, that the Group’s turnover is expected to be around DZD19.5 billion in 2023, compared to DZD14.6 in 2022, up by 35%.

He said in a working meeting, chaired by the minister of Industry and Pharmaceutical Production, Ali Aoun, devoted to the presentation of the Group’s balance sheet for 2022 and 2023, as well as its development prospects in 2024.

In terms of the production volume, the Group produced at least 130 million sales units in 2023, compared to nearly 107 million units in 2022, the CEO said, adding that the number of the produced drug reached 160 products, “including 80 which were unavailable.”

He affirmed that this number will rise to around 300 products in 2024, with no less than 30 new drugs for cardiovascular disease, bringing their number to 37 products manufactured locally.

Regarding the prospects for 2024, Kouidri said that Saidal plans for the launch of the production of raw materials used particularly in the production of insulin, antibiotics and oncology drugs.

In this regard, he announced that Saidal Unit in Medea will start producing raw materials for antibiotics as of June 2024, noting that its antibiotics production capacity totals $850 million in value, while the needs of the Algerian market fall below $250 million. This offers Saidal, according to him, “the possibility of exporting 75% of its production.”

Kouidri said that the production of insulin crystals (raw material) will be carried out at the unit of Saidal in Batna with a leading Chinese partner, affirming that Saidal will manufacture in Constantine all ranges of insulin, including pens, by June 2024.

2024 will be also marked by the production of Full process oncology drugs in Constantine, Saidal’s CEO said, adding that part of this type of drug will be produced, by then, in secondary packaging and should be put on the market during the 1st quarter of 2024.

On this occasion, the minister of Industry and Pharmaceutical Production said that the results achieved by Saidal in 2023 “should allow achieving profits that are to benefit the Group, particularly for the next fiscal year.”

Highlighting that Saidal must be the locomotive of the pharmaceutical industry in Algeria, Aoun urged the officials of the Group to scale up the efforts so that “this hope turns into reality.”

This working meeting was held at the headquarters of the general directorate of Saidal, attended by officials of the ministry, the director general of the National Agency of Pharmaceutical Products (ANPP), as well as officials of Saidal.