The Egyptian pharmaceutical market producers revenue reached cEGP8.8bn from direct sales to clinics and pharmacies, which include local and foreign producers in the Egyptian market, according to a report by IMS Health. Pharmaceutical producers grew 19.5% on average Y-o-Y. Egyptian International Pharmaceutical Industry Company (EIPICO) (PHAR.CA) scored highest revenues amongst local producers and fourth amongst all market producers, exceeding Pharco Pharmaceuticals by EGP26mn, which came in second place. As for the total market (foreign + local producers), Sanofi scored the highest revenues (EGP739.2mn, followed by GlaxoSmithKline at EGP664mn, and Sanofi came in at third place). EIPCIO and Pharco came in at fourth and fifth place, while Amoun came in fifth place at EGP373mn, growing 27% Y-o-Y, Eva Pharma came in eighth place, followed by MDC at ninth place and Hikma pharmaceuticals followed at tenth place with EGP191mn and 34% growth Y-o-Y. Y-o-Y growth in revenues significantly exceeds the growth in sales volumes, which is attributable to the disappearance of low-priced products, as losses pushed producers to halt their production, according to Osama Rostom, Deputy Head of the Pharmaceutical Chamber of the Federation of Egyptian Industries. (Al Mal)   EIPICO: EGP67.04 as of 12 May 2016, Rating: Buy, FV: EGP83.00 per share, MCap: USD599 million, PHAR EY / PHAR.CA