Egypt’s pharmaceutical sales surpass EGP 65B in 5 months

Updated 6/3/2024 8:49:00 AM
Egypt’s pharmaceutical sales surpass EGP 65B in 5 months

Arab Finance: Egypt’s pharmaceutical sales have exceeded EGP 65 billion in the first five months of 2024, up 27% year on year (YoY) from nearly EGP 51 billion, Al Arabiya Business reported, citing Head of the Pharmaceutical Division at the Egyptian Federation of Chambers of Commerce (FEDCOC) Ali Ouf.

Ouf expects pharmaceutical sales in the local market to increase by 25% to EGP 190 billion by end-2024, from around EGP 155 billion in 2023.

Ouf’s assumption comes in tandem with the Egyptian Drug Authority’s (EDA) decision to start raising the prices of certain circulating medicines.

Related News