Pharmaceutical Sales in Egypt Hit New Record

Sudan Events – Agencies

The head of the Pharmaceutical Division at the Federation of Chambers of Commerce in Egypt, Ali Auf, revealed that drug sales in the country have reached around EGP 130 billion during the first eight months of 2024, an increase of more than 45% compared to the same period last year, which saw sales totaling EGP 88.5 billion.
Auf told Al Arabiya Business that pharmaceutical sales in Egypt grew by EGP 22-24 billion in August alone, marking the sector’s highest monthly sales ever.
He explained that the significant increase in August was driven by the availability of previously missing medications and the price hikes approved by the Egyptian Drug Authority, following the Central Bank’s decision to float the currency in early March, which caused a noticeable rise in the cost of all industry inputs.