Egypt's Pharmaceutical Market Records EGP 277Bn Annual Sales: EDA
Date
11/6/2024 11:27:57 PM
(MENAFN- Daily News Egypt) Ali Ghamrawy, Chairperson of the Egyptian Drug Authority (EDA) has reported that the total sales of Egypt's Pharmaceutical market from October 2023 to September 2024 reached 3.6 billion units, valued at approximately EGP 277bn, positioning it as one of the largest markets in the Middle East and Africa with significant growth rates.
Deputy Prime Minister and Minister of health and Population Khaled Abdel Ghaffar stated that Egypt's proactive strategy for optimizing pharmaceutical consumption has effectively addressed drug shortages, reduced antibiotic resistance, and promoted awareness of correct medication use.
The minister highlighted the importance of establishing a timeline to boost local production of medicines and medical supplies, aiming for self-sufficiency and less dependence on imports. He also directed the Egyptian Drug Authority to closely monitor progress in implementing memoranda of understanding and ensure tangible outcomes.
Additionally, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir said the government is committed to supporting industrial growth and localizing pharmaceutical manufacturing.
Al-Wazir stressed removing obstacles facing the local industry to ensure high-quality, affordable medicine that meets the needs of Egyptian citizens without adding financial burdens.
During the meeting, Ghamrawy presented the Authority's vision for development and modernization in line with international standards, as well as an update on the current status of the pharmaceutical market.
He also highlighted the latest efforts of the Permanent Committee on the Egyptian Pharmacopeia, key cooperation protocols between the EDA and other entities, and updates on the Authority's international accreditations. Additionally, he discussed developments concerning the sixth (internship) year for pharmacists.
Ghamrawy noted that the EDA is committed to advancing the pharmaceutical tracking system and enhancing Electronic Common Technical Document (eCTD). He stated that over the past period, the Authority has addressed various challenges that have accumulated since 2022 up to March 2024. These efforts ensured the availability of essential medications in the market, the restoration of strategic stockpiles of raw materials and critical products, and continuous monitoring of production lines with regular reviews of pharmaceutical products.
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