Back to the complete issue
Tuesday, 17 May 2016

Medicine that used to cost under EGP 30 will now cost 20% more

Cabinet also approved raising by 20% the price healthcare compounds that had been retailing for under EGP 30, the Health Ministry announced, according to Reuters. “[Compound-making] companies will now be obliged to offer those medicines or risk having their licences revoked,” the Health Minister reportedly said, saying the decision to allow price increases was to ensure the compounds were made available in the market. Al Borsa says the decision effectively raised the price of 9,000 compounds, representing 75% of those available domestically. Ahmed El Ezaby, head of the uniqueasthmatreatmentsecrets.com association, estimates the percentage at 70% and expects shortages to ease gradually. House Health Committee chairman Magdy Morshid said the move to allow price rises would end shortages for up to 1,470 treatments, Al Borsa reports.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.