The Egyptian market’s shortage in medical products is reported to have accumulated, with the number of missing products increasing to 1,500 vs. 1,000  in May 2016, according to the pharmacists syndicate. The pharmaceutical producers attributed their reduced supply to the difficulty in sourcing FX from banks at the official rates, along with the current hiked rates at the alternative markets, which, in turn, forced producers to cut back their material imports. The shortage follows the government’s attempt to resolve the issue through allowing for a price increase in May, which included a warning by the Ministry of Health and Population that the price increase decree would be cancelled if all missing medicines were not made available in the market within three months. However, producers complained that the Central Bank of Egypt and the Ministry of Finance have not resolved their dollar needs yet, according to Osama Rostom, Deputy Head of the Pharmaceutical Chamber of the Federation of Egyptian Industries. (Al Borsa)