Sales of the pharmaceutical sector in Egypt hit EGP 60 billion in 2016, Mohie Hafez, the head of the health committee at the Egyptian Union for Investors Associations (EUIA), said on Tuesday.

Despite a 13% decrease in drug sales, the sector is expected to generate sales of EGP 65 billions in 2017, he noted.

Speaking at a conference organized by the Pharmaceutical Division of the Federation of Egyptian Chambers of Commerce (FECC), Hafez said Egypt exports medicines to 142 world states.

Total exports of Egypt’s medical sector are ranging between 500 and 550 million dollars annually, he confirmed. 

About 154 medicine factories are currently operating in the Egyptian market, he said, adding that 25 companies acquire 85% of the drug market