Pharmaceutical sector
According to ACDIMA chairperson, Olfat Ghorab, the new factory is a key step in addressing the ongoing challenges faced by Egypt’s pharmaceutical market, including shortages of essential drugs and frequent price hikes due to a lack of raw materials.
He instructed the Ministers of Petroleum and Health to prioritize collaboration with Azerbaijan in these areas, in line with Egypt’s broader strategy to deepen partnerships and foster growth in critical industries
Egypt's pharmaceutical sector has experienced substantial expansion in recent years. With the addition of 15 new factories in the past three years, the total number of such facilities now stands at 172
Egypt has struggled with a significant medication shortage over the last few months, exacerbated by a foreign currency crisis that impacted pharmaceutical production and imports
Two weeks ago, the government announced it allocated LE 7 billion to tackle these shortages, focusing on enhancing production, securing raw materials, and developing factory infrastructure
Prices of certain medicines are expected to climb as between 80-100 companies have applied to the Egyptian Drugs Authority (EDA) to up medicine prices by an average of 25-30 percent
