Egyptians' spending on the drug (EREC) from September 2022 to September 2023 reached approximately half a billion Egyptian pounds ($16 million according to the official exchange rate), according to data released by IQVIA, an organization that monitors pharmaceutical sales in Egypt. Official data indicates that consumption of the top-selling sexual enhancement product in Egypt amounted to about 6.9 million units during the stated period.
Despite the significant consumption of the product in the Egyptian market, the data revealed a decline in the number of units sold by more than 23% during the same period, alongside a 4.3% drop in sales revenue. The noticeable decrease in the sales value of "EREC" may be driven by a 25% price increase over the past few months. The product, produced by the Egyptian company "Adwia," which is owned by an investment consortium that includes the European Bank for Reconstruction and Development (EBRD) and the UK’s CDC Group, accounted for about 0.5% of total drug sales in Egypt over six months.
Egyptians' purchases of medications sold through pharmacies amounted to 142.7 billion Egyptian pounds from September 2022 to September 2023, an increase of over 18% compared to the same period in the previous year, while the number of pharmaceutical units sold decreased by approximately 8% to 3 billion pharmaceutical packages.
