Minister: Egyptian Pharmaceutical Market Reaches EGP 300 Billion AnnuallySource: www.export-egypt.com 9/28/2024, Location: Africa |
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The Egyptian pharmaceutical market is valued at EGP 300 billion annually, Deputy Prime Minister and Minister of Health and Population Khaled Abdel Ghaffar revealed.
Addressing the opening session of the Fourth Al-Ahram Pharmaceutical and Healthcare Conference, Abdel Ghaffar added that the pharmaceutical industry in Egypt has been stable since the mid-1930s, with representation from both public and private sector companies, as well as multinational corporations. The conference kicked off earlier on the day under the title "Facing Challenges and Promoting Innovation". President's Advisor for Health and Prevention Affairs Mohamed Awad Tag El-Din, Chairman of the Healthcare Authority Ahmed El-Sobky, Chairman of the Egyptian Drug Authority Ali El-Ghamrawy, Chairman of the Unified Procurement Authority Bahaa El-Din Zidan, former minister of health Adel Adawy, alongside former minister of finance and head of the Universal Health Insurance Authority Mohamed Maait are participating in the event. Abdel Ghaffar said the state shoulders $3 billion annually for drug manufacturing, noting that export volume reaches $1 billion and could increase to more than $1.3 billion by registering medications abroad. He added that 90% of the registered drugs in the Egyptian market are produced by the private sector and multinational companies. Egypt is ranked among the top countries in the world for drug consumption, as citizens have developed a habit of taking medication without prescriptions, Abdel Ghaffar said. "Internationally, there is a push to rationalize the use of antibiotics. It is crucial to support the Egyptian Drug Authority in monitoring and controlling antibiotic consumption. This will greatly reduce both the amount of antibiotics used and the import costs," he emphasized. Abdel Ghaffar also explained that the entire world operates using the scientific name of drugs rather than the commercial name. He pointed out that there are 10 to 12 products with the same active ingredient, underscoring the need to focus on generics or alternatives. He stressed that the Egyptian Drug Authority is the entity responsible for drug registration, and it is crucial to support local manufacturing. "Citizens need to be informed that generics are equally effective." The minister also called for focusing on pharmaceutical education in Egypt, enhancing the curriculum in pharmacy colleges, and promoting knowledge of scientific names. |
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