Cairo – Mubasher: Egypt's cabinet approved raising the price of medicines that cost up to EGP 30 by 20%, said the Ministry of Health in a press release on Monday.
By this decision, pharmaceutical companies are now obliged to provide these types of medicine in the Egyptian market; otherwise their licenses might be revoked.
Most pharmaceutical producing companies decided to stall the manufacturing of low price medicines as a result of high manufacturing costs, low profit, and the latest devaluation of Egyptian pound, demanding, therefore, the increase of medicine prices.
This decision will not be applied to all medicines whose prices were increased before this move, said the ministry, adding that strict controls on companies will be applied for granting company’s integrity and compliance.
