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Monday, 19 December 2016

El Ezaby writes to Al Shorouk, say no qualms with Rady, flotation problems “real”

El Ezaby Pharmacies responds to claims by Rady, Al Shorouk: El Ezaby Pharmacies is not in the business of importing insulin and it does not control 14% of the pharma market in Egypt, Ahmed El Ezaby said in a letter sent to Al Shorouk. He also refuted claims that he had filed a complaint to Prime Minister Sherif Ismail against Health Minister Ahmed Rady. El Ezaby does not own 130 pharmacies across Egypt, he also noted, but owns a company that manages pharmacies owned by third parties. El Ezaby also stressed that the float of the EGP is creating “real” challenges to the sector, not made up ones as Rady once suggested. He noted that he was unable to clear imported medications from customs after the EGP flotation because, as an importer, he could not bear the entire cost increase, reiterating separately that domestic pharma manufacturers have taken a number of actions voluntarily to reduce the selling price of medications whenever their costs went down.

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