Pharma chief dismisses talk of drug price hikes

There is no intention to raise drug prices for now, Ali Ouf, head of the Pharma Division at the Federation of Egyptian Chambers of Commerce, told Sherif Amer in a phone-in on Yahduth Fi Misr. Ouf’s comments came after statements attributed to him circulated claiming that the Egyptian Drug Authority (EDA) had approved repricing some 40 drugs, with increases taking effect in January.

Drug prices were last raised in October 2024, Ouf said, and were set “on the basis that the USD would rise… they were priced at EGP 50 to the greenback back then.” Those prices remain manageable for companies so far, he added, and “there is no intention to raise any drug prices under the current circumstances.” (watch, runtime: 3:47) All essential medicines are available, including drugs for diabetes, blood pressure, and chronic diseases,” Ouf emphasized. (watch, runtime: 0:57)

REMEMBER- The government has put drug pricing on a new rules-based footing, with the EDA tying price reviews to a weighted mix of FX movements, inflation, and interest rates. FX carries 60% of the formula, urban inflation 30%, and changes in the CBE’s overnight deposit rate the remaining 10%, with the calculation to be run every six months — or sooner in exceptional circumstances.