Price hikes to hit pharma sector: Some 200 pharma products could be subject to price hikes ranging from 5-20% starting next week, a pharma source told Enterprise, adding that the price hikes will eventually hit a total of 1.5k products over the coming 12 months.

The details: Each pharma company’s best-selling items will be subject to price increases. The price hikes will be determined based on the increase in cost of production and whether or not the med is for chronic illness, our source added, explaining that chronic medication will be subject to a smaller increase.

Is it enough? The increases are in line with what pharma players wanted, the source said, adding that prices will be reevaluated in three months. Future price hikes — or reductions — will follow the USD / EGP exchange rate.

Less than they wanted: Pharma players were initially demanding a 50% price hike, but were bracing for the hikes to be around 25%, prior to the pharma division’s meeting with the Egyptian Drug Authority.

ICYMI: The news follows statements from Prime Minister Moustafa Madbouly on Monday that hinted at the government raising the prices of subsidized bread, fuel, and electricity.

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