Army to launch pharma firm

Business monthly (Egypt) - - IN BRIEF -

As doc­tors and pa­tients across Egypt grap­ple with high prices and drug short­ages, a new player is set to en­ter Egypt’s phar­ma­ceu­ti­cal trade: the mil­i­tary. Ac­cord­ing to a prime min­is­te­rial de­cree pub­lished last month, the Na­tional Au­thor­ity for Mil­i­tary Pro­duc­tion—part of a mil­i­tary eco­nomic net­work that runs com­pa­nies that make ev­ery­thing from re­frig­er­a­tors to bot­tled wa­ter—has been granted a li­cense to set up a drug com­pany, the Egyp­tian Na­tional Com­pany for Phar­ma­ceu­ti­cal Prod­ucts. The de­cree did not pro­vide de­tails about what types of medicines the firm would be al­lowed to de­velop or pro­duce, but it came shortly af­ter a Jan. 12 an­nounce­ment by the health min­istry that the prices of 3,000 drugs would be raised by 15 to 20 per­cent to help man­u­fac­tur­ers cope with in­creased costs due to the re­duced pur­chas­ing power of the weak­ened pound.

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