Arab Finance: The sales of foreign companies in the Egyptian pharmaceutical market hiked by 43% year-on-year (YoY) in 2024, Ali Ghamrawy‏, ‏Chairman of the Egyptian Drug Authority (EDA), announced.

In his meeting with Prime Minister Mostafa Madbouly, Ghamrawy attributed this progress to several measures implemented by the authority to attract international companies.

These measures include monitoring new and innovative products and accreditation procedures for registering products within two or six months, instead of two years.

Locally, the pharmaceutical industry has achieved a leap in sales last year when compared to 2023, with expectations of a positive increase in numbers in 2025.

On his part, Madbouly emphasized that this meeting aims to follow up on efforts to advance the pharmaceutical industry nationwide.

He affirmed the government's commitment to providing all necessary support for the growth and development of this vital sector to promote localization and attract more foreign investment.

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