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Egypt Has Strategic Medicine Reserve
Egypt's Minister of Health and Population, Khaled Abdel Ghaffar, spoke about the stability of the pharmaceutical market in Egypt and the importance of local manufacturing. He confirmed that Egypt is among the world's ten cheapest countries in terms of drug prices and that the country produces 91% of its pharmaceutical needs. He explained that the size of the pharmaceutical market amounts to 422 billion Egyptian pounds, with an annual growth rate of 25%. The strategic reserve of medicines is sufficient for 3 to 6 months, especially for chronic diseases. He pointed out that drug pricing is based on three main factors: the value of the US dollar (60%), inflation (30%), and bank interest rates (10%). The government is keen to achieve price stability to ensure national drug security. Additionally, he emphasized that Egypt maintains its domestic pharmaceutical industry and aims to increase exports to reach $3 to $4 billion in the coming two years.
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