Egypt likely to raise prices of 1,600 pharmaceutical products within 15 months
Updated 8/20/2024 8:11:00 AM
Arab Finance: The Egyptian government is expected to raise the prices of 1,600 pharmaceutical products from September until the end of 2025, Head of the Pharmaceuticals Division at the Federation of Chambers of Commerce Ali Ouf told Al Arabiya Business.
The Egyptian Drug Authority (EDA) has received requests from all local pharmaceutical firms to raise the prices of pharmaceutical products, Ouf said.
He added that the authority could approve increasing the prices of around 600 products within the fourth quarter (Q4) of this year.
Ouf expects the EDA to hike the prices of 1,000 products in 2025 if market conditions remain stable with no notable increase in the US dollar value.
He also anticipates the number of medicines that are out of stock to drop significantly by the end of September to around 500 products from 1,000 in May.
It is worth noting that Egypt’s pharmaceutical sales were estimated at EGP 105 billion during the first seven months of 2024, compared to EGP 75 billion over the same period last year, Ouf pointed out.
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