Is anyone happy with Egypt's new medicine prices?
Egypt has agreed to raise price caps on some of the cheapest locally produced medications rather than lose access to the drugs altogether, but the move has come at a political cost.
On May 16, Egyptian Minister of Health Ahmad Imad announced during a press conference that the Cabinet had agreed to raise prices 20% effective July 1 on locally produced medicines costing less than 30 Egyptian pounds ($3.38).
The decision came as some medications were disappearing from the Egyptian market. Manufacturers said they could no longer afford to offer the drugs in Egypt, citing high production costs and price controls.
These developments have caused a number of these companies to close their facilities.
The Egyptian government’s decision to raise the cost of medicines surprised citizens and sparked intense controversy. Some pharmaceutical companies apparently raised the prices of cheaper drugs right away to 30 pounds to get more out of the pending 20% hike.
