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Wednesday, 14 December 2016

Pharma producers counter government’s offers, present three options

Foreign pharma manufacturers come back with a counter offer: Foreign pharma producers have given the Health Ministry three options to resolve the impasse on medication pricing domestically, Al Mal says. The first proposal is to increase the prices of 15% of each of the companies’ products by 50% in “close time periods,” with a pledge to have the companies operate their plants at full capacity. The second option is to have the government provide pharma producers with USD at a “subsidized” rate of no more than EGP 9 per USD 1. The third, and arguably most realistic option, is to revisit the government’s pricing mechanism that uses reference pricing from the countries in which any given medication is sold the cheapest. The option also comes with a request to expedite the medication registration process domestically to make circulating new products in the market a faster process.

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