Pharmaceutical cooperation with Egypt

Deal could boost trade of medicinal drugs

The Ministry of Public Health (MoPH) signed an agreement with the Ministry of Health in Egypt to encourage bilateral cooperation in the fields of medicine and nursing. The deal will also serve to promote bilateral trade of medicinal drugs and encourage mutual investments in the industry.

The Egyptian drug industry is perceived as highly competitive in terms of quality and prices, according to a statement by the MoPH. Armand Phares, President of the Syndicate of Pharmaceutical Drugs Importers, said the agreement has to be implemented with strict regulations, considering the difference in prices of medicines between the two countries.” Prices of Egyptian-made drugs are too low compared to local drug prices. Phares said medicinal drugs imported from Egypt should have the same specifications as those available in the local market.

Some leading multinational pharmaceutical companies have factories in Egypt, including GlaxoSmithKline and Novartis. A number of Egyptian-made drugs are already available on the local market. Phares said: “Egyptian-made drugs are available in small quantity, and do not have a big market share.”

Egyptian manufacturers will be exporting their products to local dealers at the same price at which they sell to domestic dealers, according to Phares: “Factories are compelled to use the same prices for exports of medicinal products as for local sales.”

However, Phares said it would not be profitable for local drug manufacturers to export their products into Egypt: “The cost of locally produced medicines is much higher, which makes them unaffordable to Egyptian consumers.”