Parliamentary sources said that the Health Committee has once again requested the formation of a fact-finding committee on the medicine crisis that continues to escalate with the increasing price of the US dollar on the unofficial market.
The sources added that the 31 requests presented to the parliamentary committee for forming a fact-finding committee, including those containing provisions for the creation of a committee focused on current medicine issues, have now expired due to the end of the first legislative term.
Head of the Health Committee, Magdy Morshed, said it was no secret that price manipulation and shortages exist within the medicine market. He further stated that some medicines are being monopolised by companies, and that expired and fake medicines are often recycled and marketed to patients.
He added that the committee would discuss the issue of state-owned pharmaceutical companies along with other factors that have exacerbated the current crisis. The privatisation of these companies could be a possible solution; however, it is better to have better methods of evaluation so that stronger results can be obtained.
Morshed said that the crisis is expected to worsen in the coming period with the increase of the price of the US dollar in unofficial markets to over EGP 14.
He also said that the current issue is not the increase in the US dollar’s price, but that companies lack the financial ability to purchase raw materials under the exchange firm’s closing doors.
“There is an inventory shortage in over 900 medicines and the shortage in foreign currency presents a crisis because 95% of the ingredients for medicine in Egypt is imported,” according to Morshed. He further stated that this is an issue that will be dangerous for manufacturers.