Drug Production to Increase in Response to Medicine Shortages
As foreign currency liquidity increases in the market, pharmaceutical companies are expected to maximise production.
Prime Minister Mostafa Madbouly, joined by the Minister of Health and Population and the President of the Egyptian Drug Authority, have resolved to coordinate with pharmaceutical companies to increase drug production. The decision comes in response to multiple nationwide complaints regarding the scarcity of pharmaceutical drugs in pharmacies.
In a meeting, it was reported that the shortage was caused by a lack of foreign currency liquidity in the recent period, which has affected pharmaceutical companies’ capability to produce medicine. Now that there is a reported increase in the availability of foreign currency liquidity, it is expected that the crisis will be resolved in coming weeks, as companies could soon have the resources to increase production.
Additionally, the President of the Egyptian Drug Authority highlighted the formulation of a strategic stock plan to protect against potential market shortages in the future, including mechanisms for monitoring the inventory of medicines and regulating various distribution chains.
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