File Photo: A pharmacy employee reaches out to grab a box of medicine in a pharmacy, Cairo, Egypt. AFP
Speaking to Ahram Online, Ouf emphasized that the country's inventory of medicines without substitutes can cover local requirements for three to six months.
Ouf regards pharmaceuticals as strategic commodities essential to Egypt's national security.
He further highlighted the oversight exercised by the Egyptian Drug Authority (EDA), which diligently monitors the production and distribution of medicines, ensuring compliance with the standards set by the World Health Organization (WHO).
Ouf revealed that the pharmaceutical division has launched awareness campaigns promoting locally-produced alternatives to foreign medications, particularly for glandular diseases.
Currently, Egypt possesses 190 fully operational pharmaceutical factories, working to meet the nation's medicinal requirements and offer alternatives to imported drugs, Ouf added.
"These factories presently fulfill 92 percent of the country's medicine needs," he said.
Furthermore, Egypt's pharmaceutical market ranked first in the Middle East and North Africa (MENA) region in 2023, with a market value of $ 56.6 billion, according to figures reported by General Manager at Informa Markets Hany Khafagy.
The country is also actively striving to enhance its exports in the medical and pharmaceutical industries by 30 percent compared to $968 million in 2022, according to the data released in January by the Egyptian Exporting Council of Medical Industries (ECMI).
Exports in 2022 represent an increase of 38.8 percent compared to $697 million in 2021.
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