Pharma Regulator Act in the works
Pharma Regulator Act in the works: The House Health Committee is drafting the Pharma Regulation Act and will table it, with a full report, to parliament in October after MPs return from summer recess, sources in the House tell Al Borsa. The industry regulator will have wide ranging authority over the industry, including responsibility for quality control and distribution policies as well as exports. The proposed regulator would be an independent operator, reporting to cabinet and not the Health Ministry, said House Health Committee Chairman Magdy Morshid. The move was prompted by the continuing shortages of medication in the country despite the Health Ministry allowing a marginal increase in the price of goods retailing for under EGP 30, as we noted yesterday. Morshid is working on the law in conjunction with the Pharmacists Syndicate and has consulted with Assistant Health Minister Tarek Salman, according to sources. The news comes as the domestic press report (here and here) on ongoing shortages of key products in the market as a result of the FX crunch.