Chairman of the Drug Holding Company, Mohamed Wanis, confirmed that the situation of the Egyptian market has changed as a result of the entry of the private and international companies, which reduced the share of the pharmaceutical companies of the public business sector.
He added, to “The Youm7" newspaper, that the public sector companies’ share from the total market reaches up to 11%, pointing out that there are about 156 pharmaceutical companies in Egypt.
He pointed out that the Drug holding company and its subsidiaries are seeking through the marketing mechanisms to restore their share again despite the difficulties related to the inability of the companies to provide funds for marketing and scientific offices due to the weak potential.
On the efforts of the Drug Holding Company to increase its market share, Mohamed Wanis explained that there are efforts to do so by activating the marketing process and taking advantage of the low price of generic pharmaceuticals that were priced before the rest of the drugs were priced.
He explained that Drug Holding Company is working to restructure the subsidiaries in light of the lack of keeping pace with the development and the modernization of production lines for many years, which negatively affected the companies.
He pointed to the suffering of companies in the registration of products due to the slow pace of the Ministry of Health, which disrupts some production lines as in El Nasr pharmaceutical company.
He explained that the 8 production affiliated companies produce 1200 medical products covering all the needs, pointing out that the recovery of the popular segment contributes to the growth of the companies and achieve profits that contribute to the development of companies and modernize their lines, thus keeping pace with the local market and global market, facing great challenges.
The drug market in Egypt is estimated about 50 billion pounds, according to the official figures.