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Thursday, 15 December 2016

Health Ministry asks pharma companies for a list of meds up for price hike

The Health Ministry has asked pharma companies to send a list of meds whose prices they want to raise, Al Borsa reports. The ministry is offering to raise the price on 10% of domestically produced meds, while allowing prices to increase for 15% of imported products. Once approved, these SKUs would be subject to price hikes every six months, at a rate that has yet to be decided. The Federation of Egyptian Industries’ pharma division is not happy with the offer, according to Al Mal, which added that division members will meet today to discuss a united response. A source told the newspaper that most members are leaning towards rejecting the offer. This “new” offer doesn’t seem to differ all that much from the previous one, which would allow all pharma companies to raise prices of 10% of their meds every six months.

In other related news, the House of Representatives has decided to indefinitely suspend its committee looking into the pharma pricing issue, citing work overload (we nearly choked to death with laughter on that one), according to a report from Al Borsa. Tom (of Tom and Jerry fame) sympathizes greatly.

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