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Monday, 17 October 2016

Prosecutor General looking into complaint against Health Minister for raising prices on meds

The Prosecutor General is apparently looking into a suit filed against Health Minister Ahmed Rady, Ahmed El Ezaby (head of the Federation of Egyptian Industry’s pharma division) and other industry association reps over the ministry’s decision to raise prices on meds priced under EGP 30 to rise 20%, Al Borsa reports. The suit alleges that industry associations conspired with the minister to deceive the public into believing the pharma industry was in trouble and would need the decision to survive despite significant profits, which as we noted last month grew 76% year-on-year in 1H16. Okay, forgetting for a moment that the stated reason for the decision was to redress shortages of key meds in the market, is the Prosecutor General’s office really wasting time with this? What’s next? Suing the government for cutting subsidies? Or better yet, for inflation? Why not even last summer’s heat wave? How about Yasser Borhamy’s zebiba? Can we sue because having seen it, it cannot be unseen?

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