The Ministry of Health and Population is reported to have agreed on another price increase for  a number of medicines currently selling for less than EGP20, at a meeting with the Federation of Egyptian Industries (FEI) and Ministry of Trade and Industry, according to an informed source from FEI speaking to Al Mal. The source added that the  Cabinet of Ministers supports the amended proposition drafted by the Chamber of Pharmaceutical Industries, that includes price increases for three proposed tranches covering three price ranges: i) the first tranche includes medicines that are currently selling for less than EGP1; ii) the second tranche includes medicines selling for less than EGP10; and iii) the third tranche includes medicines ranging from EGP10-20. The amended proposition calls for a: 200% increase for  the first tranche, a minimum of a 20% increase for the second tranche, which includes mostly drugs by local producers  and a maximum of 20% increase for the third tranche. However, the proposition does not cover all loss-making products; producers are well aware of the economic hardship the country is currently suffering, the source added. The first tranche targets mitigating the losses incurred by the Holding Company for Pharmaceuticals (Holdipharma), as half of the company’s products fall under the first tranche included in the proposition. Earlier in February and March, the Ministry of Health had officially agreed on raising prices for 203 drugs, with the increases ranging between EGP0.5 and EGP46, which included 24 products selling for less than EGP10. (Al Mal)