Egypt’s Pharmacy Sector Is in Crisis amid a Pricing Turmoil

Gracing the headlines today is a pressing issue in Egypt’s pharmacy sector—a significant pricing crisis that’s causing a stir in the industry. At the helm of a pivotal meeting was Ahmed Al-Wakil, President of the Federation of Chambers of Commerce, where this crisis was the focal point of discussion.

Unraveling the Crisis

Dr. Ashraf Kordy, a board member of the Egyptian Chamber of Commerce in Giza, elaborated on the multifaceted challenges facing the sector. Notably, the existence of disparate prices for identical medications, rapid surges in prices, and economic hardships for pharmacies have led to the crisis. Kordy underscored the severe financial losses sustained by pharmacy owners, with some recording a capital reduction of over 50% within a year. This economic strain has hampered their ability to remunerate staff and restock their shelves, thereby leading to a precarious situation.