Medical, pharmaceutical exports down 8.9% in November

CAIRO – 26 December 2017: Exports of medical and pharmaceutical industries from January to November 2017 decreased by 8.9 percent to reach $420 million, against $461 million in 2016, the Egyptian Export Council of Medical Industries (ECMI) said in its monthly report on Tuesday.

Exports of the sector registered $43.5 million in November, including $6.52 million for medical supplies, $14.80 million s for cosmetics and $22.19 million for other medicines, ECMI said in its monthly report.

Exports of medical and pharmaceutical industries reached $43.1 million in August, including $6.6 million for medical supplies, $16.4 million for cosmetics and $20.05 million for other medicines, the report added.

The sector’s exports in September registered registered $7.6 million for medical supplies, $9.5 million for cosmetics and $16.7 million for other medicines, while exports in August amounted to $38.7 million.

Pharmaceutical investments in Egypt hit LE 120 billion ($6.7 billion), said Ahmed al Wakil, head of the Federation of Egyptian Chambers of Commerce, in mid-December at a conference on modernizing pharmaceutical industries in Egypt.

He indicated that the industry has been upgraded drastically, as in 1960 there were only five factories operating in this sector.

International companies operating in this field contribute to 65 percent of the total drug market value, he indicated.