Pharmaceutical sales hit LE 44.7B in 2019

CAIRO, Nov 16 (MENA) - Egypt's pharmaceutical sector indices confirm that Egypt had the potential to become a promising market for pharmaceutical production, Board Chairman of Al-Ahram Establishment Abdel-Mohsen Salama said Saturday.

According to pharmaceutical sector data, Egypt's sales recorded EGP 44.7 billion in 2019, with a growth rate of eight percent, Salama added in a speech to the opening session of the 1st edition of a two-day pharmaceutical conference organized by Al-Ahram Establishment in Cairo under the auspices of Prime Minister Mostafa Madbouli

He noted that sales are expected to hit EGP 56,6 billion by 2022.

Based on these estimates, Salama said, the net sales for the current fiscal year have amounted to $2.5 billion, at $24.5 per capita.

Egypt is the largest populated country in the Middle East region, with a population of 100 million, making it a large market for pharmaceuticals and healthcare services, Salama said.

Themed "Challenges for the Pharmaceutical Industry", the conference is held in cooperation with the pharmaceutical division at the Egyptian Federation of the Chambers of Commerce (FEDCOC), the Egyptian Pharmaceutical Chamber, the Egyptian Pharmaceutical Association and the Egyptian Export Council of Medical Industries.