In Egypt... Significant Increase in Drug Prices

Ali Awf, head of the Pharmaceuticals Division at the Federation of Commercial Chambers in Egypt, indicated today, Monday, that "Egypt has raised the prices of about 200 drug types by up to 50% during the months of June and July 2024." Awf confirmed that "the prices of 200 drug types in the local market have been increased in the past two months by between 10% and 30% for chronic disease medications and between 30% and 50% for non-chronic ones." The head of the Pharmaceuticals Division stated that the dollar is a significant factor in the cost of drug production in Egypt, especially since 90% of the inputs for the industry are imported from abroad. It is noteworthy that drug sales in Egypt jumped by nearly 40% during the first seven months of 2024, driven by price adjustments for several products following the Central Bank of Egypt's decision to float the exchange rate in March and increasing supplies of previously scarce medications.