Data Source: Company disclosure to EGX
Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents - Rameda (RMDA) surged +10% in the first 15 minutes of the September 30, 2024 session, following the company’s announcement of a major acquisition in the chronic care market.
The Egyptian pharmaceutical firm confirmed the strategic purchase of a leading oral anti-diabetic product used in the treatment of type 2 diabetes, marking its largest acquisition to date. This move is expected to significantly boost Rameda’s portfolio, with the product anticipated to contribute over EGP 400 million in sales by 2025 and account for around 10% of the company’s annual revenue.
The newly acquired product holds a 9% market share in Egypt’s rapidly growing oral anti-diabetics market, which is valued at EGP 6.7 billion and has achieved a compound annual growth rate (CAGR) of 43% in value over the past three years. Rameda’s CEO, Dr. Amr Morsy, emphasized that the acquisition aligns with the company’s long-term strategy to focus on high-margin, recurring-revenue products in chronic therapeutic areas. With a strong growth outlook, the product is expected to become one of Rameda’s top three revenue drivers, further strengthening its position in the chronic care market.
Dr. Morsy also highlighted that Rameda will continue to pursue additional acquisitions in the chronic medications segment, reinforcing the company's commitment to sustainable growth and profitability.
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