Minapharm resumes business with troubled distributor in 18-month debt recovery deal

Minapharm Pharmaceuticals and Chemical Industries has resumed commercial dealings with a financially troubled pharmaceutical distributor as it seeks to recover approximately EGP 195 million in outstanding debt.

The company disclosed the resumption of the relationship in an update on the amount owed by the distributor, which was not identified in the announcement provided.

The move forms part of an 18-month arrangement aimed at securing repayment. It links Minapharm’s debt recovery effort to renewed business activity with the distributor.

The available update did not specify an instalment schedule or indicate how much of the outstanding balance, if any, has already been recovered.