Egypt Independent

Drug prices to drop if shortage not solved in 3 months: minister

Health Minister Ahmed Emad pledged Tuesday to reverse his recent decision to raise the price of pharmaceutical drugs if he cannot make up the shortage in supply within three months.
In an effort to combat an increasing shortage in local supply, Emad announced earlier this month that the price of medicines costing less than LE 30 would be raised by 20 percent.
In a press statement on Tuesday, however, the minister said he had met with pharmaceutical industry officials and drug manufacturing companies to inform them of the time limit on turning around the crisis. He urged them to make up for the shortage within three months or prices would be decreased again.
He added that 75 types of medication produced by international companies in Egypt would be provided on the market at low prices.
Edited translation from Al-Masry Al-Youm