The pricing crisis in medication is the biggest challenge facing the pharmacy sector in Egypt, said Ashraf Kordy, Board Member of the Giza Chamber of Commerce. He spoke at a meeting led by Ahmed Al-Wakil, President of the Federation of Chambers of Commerce Egypt, with pharmacy profession leaders and representatives from chambers of commerce in various governorates. Kordy said that this crisis caused significant capital losses for pharmacy owners, exceeding 50% in one year. Kordy added that meeting participants suggested solutions to ease the crisis, such as printing barcodes instead of prices to standardize selling prices in all pharmacies. The meeting also discussed the difficulty of securing funding for pharmacies, as they resort to personal loans due to the Central Bank’s classification of pharmacies as “High Risk”.

Source: Daily News Egypt January 14, 2024 20:59 UTC