The pharma sector’s performance last year gives us reason to believe the market is en route to normalcy. Local pharma sales climbed 42% y-o-y in 2024, coming in at EGP 292 bn, Ibnsina Pharma said in a statement(pdf) citing IQVIA reports. The increase came on the back of price rises that began picking up in the second half of the year.

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Remember: The Egyptian Drug Authority approved several price hikes last year in response to calls from local pharma companies that the prices reflect new FX rates following the float of the EGP in March.

No price hikes 2025? Pharma prices are likely to remain stable for the time being now that the market has stabilized, Federation of Egyptian Chambers of Commerce’s pharma division head Ali Auf told EnterpriseAM. As long as the EGP / USD exchange rate is stable, the market will remain under control, he said.

But the total number of units sold was down slightly: The number of units sold throughout 2024 dipped 3% y-o-y to 4 bn, Auf said, pointing to production lines taking a hit in 1Q 2024 on the back of active ingredient shortages caused by the FX crisis at the time.

Last year’s drug shortage is a thing of the past: The number of unavailable meds has dropped from 1.5k to 200-300 thanks to successive price hikes that revived production and eased FX pressures, Auf told us.

The market leaders: Ibnsina Pharma currently holds a 30.8% market share, Pharma Overseas holds a 22% share, and the Egyptian PharmaTrading Company holds a 12% share, Auf said, explaining that drug warehouses own a collective 25% market share.

Settling dues: The Madbouly government has settled a big chunk of its dues to pharma players — it has settled some EGP 31 bn of its dues, which now stand at EGP 19 bn.

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