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Egypt’s parliament speaker promises improvement in medicine shortage crisis

Pharmaceutical manufacturers have called the price of medicines to rise following the floating of the pound in early November

Ahram Online , Monday 28 Nov 2016
Medicine
An employee works at at the EIPICO medicine factory at the industrial area in Cairo, Egypt, on January 27, 2016 (Photo: Reuters)
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The speaker of Egypt’s parliament Ali Abdel-Aal assured the country during a house session on Monday that there has been an improvement in the medicine shortage crisis, state-owned MENA reported.

Abdel-Aal stated that he held a meeting with the Medicine Industry Chamber regarding the recent shortage crisis and other production difficulties, and affirmed that there would be a tangible development within two days.

Egypt has recently been facing difficulties importing both medicine and raw materials used in the manufacturing of pharmaceuticals.

The Central Bank of Egypt floated the local currency in early November, which made the pound’s original value of EGP 8.88 to the greenback more than double.

Medicine manufacturers have complained that medicine prices need to rise in light of the increase in the dollar, so that they won’t make losses following the pound float.

 

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