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Tuesday, 31 May 2016

Pharmacists threaten strike to increase profit margins

The Egyptian Pharmacist Syndicate is considering a strike until the government and manufacturers agree to increasing profit margins for retailers to 25% from 20%, Al Borsa reported. The Syndicate had earlier supported its industry syndicate in pushing for liberalizing prices, but backtracked on the support once the Cabinet issued a statement raising the price of products under EGP 30 by 20% because companies were able to sidestep the new legislation by increasing the price of each individual blister pack rather than the whole box.

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