Egyptian pharmaceuticals market is worth around 35 billion Egyptian pounds (US$4.46 billion), Chairman of Pharmaceutical Industry Chamber Ahmed El Ezaby said Sunday. He added that the growth rate in the consumption of pharmaceuticals reaches 15 percent annually. El Ezaby -also the chairman of Multipharma Company- added that the number of local and foreign pharmaceuticals factories in the Egyptian market is around 130 in addition to 70 under-construction factories. The chairman made these remarks during his speech in the Fourth Regional Forum of Medical Insurance and Healthcare held Sunday in Cairo and organised by the Insurance Federation of Egypt, in cooperation with the General Arab Insurance Federation (GAIF). The forum will take place for two days on 10-11 January, tailored to discuss means to enhance the performance of insurance and healthcare in the region. The volume of medical insurance firm's deal with hospitals and pharmacies represents 35 percent of their total sales per year, El Ezaby noted, adding that pharmacies are currently facing obstacles with the Egyptian medical insurance system. Head El Ezaby emphasised that the medical insurance system is to guarantee delivering the best medicine for the Egyptian patient.
