Egyptian International Pharmaceutical Industries Company (EIPICO) [PHAR.CA] announced its BoD approval to elect Ahmed Kilani as Chairman, effective 1 Jan 2019. This follows the resignation of Ahmed Borhan El-Din Ismail, the company’s previous Chairman (effective 31 Dec 2018). Kilani was the Chairman of Medical Union Pharmaceutical Company (MUP), one of the largest pharmaceutical manufacturers in Egypt, and is one of three Board members representing the Arab Company for Drug Industries & Medical Appliances (ACDIMA), EIPICO’s largest shareholder.
 
EIPICO: EGP106.66 as of 2 Jan. 2019, Rating: Neutral, TP: EGP113.00/share, MCap: USD473mn, PHAR EY/PHAR.CA