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November 11, 2024 | 2 months ago

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SAIDAL plans to achieve DZD23 billion in sales by the end of 2024

Saidal Group expects to reach a turnover of 23 billion dinars by the end of 2024, then between 32 and 35 billion DZD in 2025, stated the CEO of the group Wassim Kouidri in an interview on national radio.

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Saidal's CEO, Mr Kouidri, announced that the group's revenues reached DZD 19.6 billion in 2023, with an upward trend thanks to a strategy of diversifying pharmaceutical products to meet market needs.

Mr Kouidri specified that the expected revenue increase for 2024 is mainly due to the investments made and the medicines' production increase, expected to reach 135 million units by the end of the year, compared to 130 million last year.

Saidal's strategy is to raise the share of domestic pharmaceuticals, currently stands at around 70%, to nearly 100% within the next five years.

Recently, Saidal has launched 100 new pharmaceutical products, some are already marketed, while others will be soon. Mr Kouidri highlighted the importance of research and development of human resources in the pharmaceutical industry.

A project for a cell therapy laboratory and hospital in Sidi Abdallah are also planned, using innovative methods to treat incurable diseases such as cancer and multiple sclerosis, and attended by Algerian patients as well as patients from other countries in Southern Europe and Africa.

November 12, 2024 | algeria-logo

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