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English news

23-Nov-2016

Pharmaceutical crisis continues; no middle ground reached yet

The Pharmaceutical crisis in Egypt has not been yet resolved, where medicine shortage, which has been witnessed since early 2016, has gotten worse upon floating the EGP; as it almost doubled producers main cost (active raw materials), which is 95% imported, for the mandatorily priced industry, making several drugs unprofitable to producers, with a number of companies threatening to halt production, according to several sources speaking to Reuters. Over and above, Al Mal had reported that several multinational producers that have sizable market share, had threatened to exit the Egyptian market if the government does not resolve the negative implications of floating the EGP on the pharmaceuticals industry. Al Mal article mentioned that 25 representatives from pharmaceutical producers had refused a proposal to offer a subsidy/unit sold or a mentioned price ‘change’, during  a meeting  held earlier with the Minster of Health. (Reuters, Al Mal)

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