Regulation key to continued growth of Egypt’s AED12 billion pharma market, says experts in Abu Dhabi
CPhI pharma event, hosts debate about how new regulation is key to market growth; experts from Sedico Pharmaceuticals and Bayer agree, broader common standards could support continued market growth of 10% per annum
The strength of the Egyptian pharma market was outlined during a panel discussion by two of the country’s leading experts on day two of CPhI Middle East & Africa, currently taking place at the Abu Dhabi National Exhibition Centre (ADNEC) from 3-5 September.
Currently worth over AED12 billion, the pharmaceutical industry in Egypt has been experiencing a compound annual growth rate (CAGR) of 10% in recent years with the figure forecast to continue growing at the same rate, if regulation can be broadened and standardised.
During the session Dr. Awad Gabr, Chairman & MD, Sedico Pharmaceuticals & Pharma Sector Advisor, ExpoLink explained the role of the Ministry of Health and announced that the Egyptian Drug Authority, would be inaugurated soon, he said:
“Egypt will introduce the new Egyptian Drug Authority in the coming weeks, this is a strategic decision made by the Ministry of Health to further expediate the growth of the pharma market in Egypt. The jurisdiction of the new body will increase the number of product registrations and help further enhance the amount of exports.”
One of the highlights on tomorrows agenda (day 3) will be the eagerly anticipated presentation by Dr Faisal BinDail, Deputy General Manager and Chairman, National Committee for Pharmaceutical Industries, Council of Saudi Chambers, AJA pharma, where the current pharmaceutical industry in Saudi Arabia will be discussed.
CPhI Middle east and Africa, which was officially opened by His Excellency Sheikh Nahyan bin Mubarak al Nahyan, Minister of Tolerance, is set to close tomorrow, Wednesday 5th September. The event is providing a showcase for over 250 exhibitors and is expected to attract more than 4,000 pharma professionals from around the world