Egypt’s drug shortage crisis to be resolved within 2 months: Health Minister

Updated 9/8/2024 4:21:00 AM

Arab Finance: The ongoing drug shortage crisis in Egypt will be fully resolved within two months, Minister of Health Khaled Abdel Ghaffar told Asharq Business.

In July, Prime Minister Mostafa Madbouly reassured that the government is actively working to end the crisis, which affects the availability of up to 3,000 types of drugs.

Abdel Ghaffar said that the Ministry of Health now issues a weekly bulletin tracking available medicines.

Moreover, the ministry has launched a hotline to assist citizens in locating or even delivering their required medications, he added.

Abdel Ghaffar also revealed that the value of the circulated medicines in the Egyptian market is valued at over EGP 300 billion (around $6 billion) annually, with imports amounting to $2 billion.

Egypt raised the prices of around 200 types of drugs by up to 50% in June and July due to higher production costs.

This move helped recover around 20% of the missing medications in the market, according to Ali Auf, Head of the Drug Division at the Federation of Chambers of Commerce.

The Head of the Egyptian Drug Authority (EDA) previously announced that the authority successfully resolved 75% of the ongoing medication shortage.

Egypt allocated EGP 7 billion to ensure the rapid availability of essential medicines and medical supplies in hospitals and pharmacies.

Madbouly announced in June a plan to adjust the prices of certain medicines in the market.

In June, the government formed an advisory committee to review the prices of medicines every six months amid the current fluctuations in the Egyptian pound’s exchange rate against foreign currencies.