Prices of 2,000 medicines in Egypt rise 15% in almost 8 months

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Egypt imports roughly 90% of the locally-manufactured pharmaceutical inputs from India and China, given their low costs

Staff Writer, Arab Finance

August 21, 2023

PHOTO

The prices of around 2,000 medicines have increased by 15% since January 2023 until mid-August, Chairman of the Drug Division of Egypt’s Federation of Egyptian Chambers of Commerce Ali Ouf told Asharq Business.

Ouf attributed the price surge to the high costs of shipping and the increase in the prices of materials and electricity worldwide, adding that Egypt meets 92% of its needs of medicines and imports 8%.

Egypt imports roughly 90% of the locally-manufactured pharmaceutical inputs from India and China, given their low costs, Ouf noted.

He pointed out that 180 pharmaceutical factories operate with up to 500,000 direct and indirect employees.

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