{"id":614601,"date":"2024-02-05T00:00:00","date_gmt":"2024-02-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/pricier-meds-ahead\/"},"modified":"2024-02-05T00:00:00","modified_gmt":"2024-02-05T00:00:00","slug":"pricier-meds-ahead","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/pricier-meds-ahead\/","title":{"rendered":"Pricier meds ahead?"},"content":{"rendered":"

Drugmakers will meet next week with the<\/strong>Egyptian Drug Authority (EDA) to request hiking th<\/strong>eir prices<\/strong>, a source in the pharma sector with knowledge of the matter told Enterprise. Drugmakers want to increase prices by 30-50% in response to ongoing FX and raw materials shortages and higher shipping costs.<\/p>\n

The rationale:<\/strong> Disruptions to shipping in the Red Sea have forced pharma companies to resort to the pricier air cargo alternative, the source tells us. Meanwhile, some 1.5k drugs \u2014 9% of the total 17k sold in Egypt \u2014 have been hit by the shortage of raw materials.<\/p>\n

Further strains on the state budget:<\/strong> The price increases go for all pharma sales, those made to the private healthcare sector and the public healthcare sector. Pharma companies also want to ditch fix-price contracts with the government and have the state pay a 40% premium on already in effect contracts. Half of their desired increase \u2014 20% \u2014 has been approved, while the remainder of the hike is still pending approval, the source said.<\/p>\n

The government is working to address the shortage: <\/strong>Prime Minister Moustafa Madbouly said earlier this week that his cabinet is working<\/a> to ensure the availability of pharma products and medical equipment, calling for an increase in reserves and stockpiles of critical meds.<\/p>\n","protected":false},"excerpt":{"rendered":"

Some 1.5k drugs \u2014 9% of the total 17k sold in Egypt \u2014 have been hit by the shortage of raw materials<\/p>\n","protected":false},"author":1,"featured_media":614602,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7304],"tags":[424,72,427],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pharma","tag-egyptian-drug-authority","tag-enterpriseam","tag-pharma","wpautop","entry"],"acf":{"mongo_id":"4513528c-ab8b-44f8-89fe-4b4dc1f2abd0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/241.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Drugmakers want to raise prices amid FX crunch","related_issue":[614592],"teaser":"Some 1.5k drugs \u2014 9% of the total 17k sold in Egypt \u2014 have been hit by the shortage of raw materials","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3"},"yoast_head":"\nPricier meds ahead? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/pricier-meds-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pricier meds ahead?\" \/>\n<meta property=\"og:description\" content=\"Some 1.5k drugs \u2014 9% of the total 17k sold in Egypt \u2014 have been hit by the shortage of raw materials\" \/>\n<meta property=\"og:url\" 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