Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    SCZONE showcases investment opportunities to eight Japanese companies    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Health Committee to summon HoldiPharma officials to review development plans next week

The House of Representatives' Health Committee has summoned the leaders of HoldiPharma company for pharmaceuticals for next week to hear the problems its subsidiaries are encountering, and to discern the reason behind the decline of the company's share in the Egyptian pharmaceutical market to less than 10%.
Member of parliament Mohamed Al-Amary, head of the Health Committee, told Daily News Egypt that the goal of the meeting is to identify HoldiPharma's subsidiaries' development plans during the coming period, in light of the heightened competition with the private sector.
He added that leaders from the Ministry of Health will also attend the meeting, to ensure coordination between companies and the ministry, amid the current pharmaceutical crisis.
HoldiPharma company possesses 12 subsidiaries, and contributes in the capital of 12 companies.
Minister of the Public Business Sector Ashraf El-Sharkawy said that HoldiPharma and its subsidiaries registered profits worth EGP 167m during the fiscal year (FY) 2015/2016, a decline of 11%.
El-Sharkawy held a meeting on Tuesday with leaders of HoldiPharma to discuss the impact of the recent liberalisation of the exchange rate on production costs for raw materials and energy supplies.
According HoldiPharma's website, revenues in FY 2012/2013 registered a growth of 10.8% compared to FY 2011/2012.
The committee will hold a hearing session with the leaders of the Medical Holding Company to set a development plan for the subsidiaries in the coming period.
Yemen El-Hamaky, board member of the Medical Holding Company affiliated to the Public Business Sector Ministry, said that the medicine market is currently suffering from a severe crisis due to the high cost of production after the liberalisation of Egyptian pound exchange rate.
She added that providing medicine is a national security issue and the current situation is a result of the lack of vision and planning for medicine production in Egypt.
El-Hamaky said that the crisis has been exacerbated due to the negligence of domestic medicine production; most raw materials are imported which allows private and foreign companies to control the medicine market. This hinders the market from benefiting from the Medicine Holding Company's subsidiaries.
In May, the prime minister decided to increase the prices of all medicines that cost less than EGP 30 by 20%, at a maximum of EGP 6 per package.
The subsidiaries of the Medical Holding Company have benefited from that decision, as 750 of its medical products now cost between EGP 1 and EGP 5, and 240 other products now cost between EGP 5 and EGP 10.
These subsidiaries incurred a loss of EGP 200m in the last fiscal year, as a result of not raising the prices of medicines.
Sami El-Mashad, member of the Health Committee, said that they have a number of questions and inquiries about the decline in market shares of the Medical Holding Company's subsidiaries during the last decade from 75% to less than 10%.


Clic here to read the story from its source.