Drug Shortage Prompts 20% Price Increase

Essential drugs, as well as some cancer treatments, have been impacted.

Michelle Maskaly

May 17th, 2016

Egypt's Health Ministry has instituted a 20% raise in the price cap on a number of medications in an effort to fix drug shortages in the country, Reuters reported.

This cap is for drugs that cost up to 30 Egyptian pounds, or $3.38.

The impacted pharmaceuticals include cancer drugs, migraine and cold and flu medications, antibiotics and drugs used to treat psychiatric disorders.

In addition, companies who do not offer these medications could have their licenses revoked.

"A weaker currency has made it more expensive to import raw materials and with the price of finished medicines fixed by the Health Ministry, some manufacturers have stopped making some cheap generic medicines to staunch growing financial losses," according to the Reuters report.

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