Subsidized loans for pharma players? The government has approved a EGP 7 bn of subsidized loans for pharma companies, offering them financing at an interest rate of 5-7% to help streamline meds production and secure necessary imports, head of the Federation of Egyptian Chambers of Commerce’s pharma division Ali Auf told Enterprise. The move will help end the ongoing meds shortage throughout the country.

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Remember: The local market has seen shortages of meds and medical supplies recently, just as calls from pharma players to further raise prices have piled up — most recently in response to rising fuel costs.

More price hikes coming soon: The Egyptian Drug Authority has been approving price hikes for various types of medicine in response to companies’ requests, Auf told us. Meds for chronic conditions will see smaller increases within the range of 10-30%, while those for non-chronic diseases will be subject to sharper 30-50% increases.

Making progress: “We’re monitoring the flow of meds into pharmas on a daily basis and have ensured that all essential meds are available, like those for blood pressure and diabetes,” Auf told us, adding that the number of missing drugs will drop from 1k to fewer than 300 by the end of August.

ICYMI: Prime Minister Moustafa Madbouly said last month that his cabinet is working on a plan to source 3k types of meds as part of a broader push to address the meds shortage within the next three months.

So it doesn’t happen again: The government has added 1.5k new drug warehouses to the pharma division and restructured the drug distribution system, Auf said.

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