Rédaction Africa Links 24 with Egypt Independent
Published on 2024-04-18 08:04:08
The head of the manufacturing committee at the Pharmacists Syndicate, Mahfouz Ramzi, recently made an announcement regarding the prices of chronic disease medications in Egypt. He stated that medications for conditions such as diabetes and high blood pressure will see an increase of at least 20-25 percent. This news came amidst concerns raised by pharmaceutical companies requesting a 50 percent increase in prices due to the fluctuation of the exchange rate between the Egyptian pound and the US dollar. However, Ramzi clarified that such a significant price hike all at once is not feasible, and the authorities are currently evaluating the proposed increase.
Ramzi emphasized that the medications with the lowest prices will be subject to the highest percentage of price increase. This news has sparked a discussion among healthcare professionals and patients in Egypt, with many expressing concerns about the affordability of essential medications for chronic conditions.
Ali Auf, the head of the Drug Division at the Chambers of Commerce, estimated that Egyptians spent approximately LE117.7 billion on medications in 2022. He predicted a significant increase in drug consumption in 2023, with sales expected to reach around LE135 billion, an increase of over 15 percent compared to the previous year. Despite the rising cost of medications, Auf anticipates further growth in drug sales, with projections suggesting an increase to LE150 billion in the current year, marking an increase of more than 11 percent.
The pharmaceutical industry in Egypt is vast, with over 170 drug factories and numerous contract manufacturing companies operating in the market. There are approximately 70,000 pharmacies and 1200 drug warehouses spread across the country, as estimated by the Drug Industry Chamber at the Federation of Industries and the Drug Division at the Chambers of Commerce.
The escalation in drug prices has raised concerns about accessibility to essential medications, particularly for individuals managing chronic conditions. Many patients rely on these medications to maintain their health and quality of life, making affordability a crucial aspect of healthcare in Egypt.
It is essential for the relevant authorities to carefully consider the implications of such price hikes on the healthcare system and the well-being of the Egyptian population. Balancing the need for pharmaceutical companies to remain financially viable with the necessity of ensuring affordable access to medications is a delicate task that requires thoughtful and strategic decision-making.
As discussions continue regarding the proposed increase in drug prices, stakeholders in the healthcare sector are closely monitoring the situation to assess its potential impact on patients, healthcare providers, and the overall healthcare system in Egypt.
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