Pharmaceutical sales in Egypt continued to rise in September, with sales to the private segment, notably pharmacies, surging 13.9% year-on-year (y-o-y) and 13.2% month-on-month (m-o-m), amounting to EGP 7.7bn.
For the first nine months (9M) of 2020, total sales for the private segment grew by 1.9% y-o-y, amounting to EGP 58.3bn, rising in the third quarter (3Q) of 2020 by 7.4% y-o-y and 16.8% q-o-q to hit EGP 21.2bn.
The healthy rise is good news for Egypt’s pharmaceuticals sector, in general, as the indications continue to show a steady recovery in Q3, following the 4.4% drop in direct sales volumes reported in Q2.
The latest pharmaceutical sales figures will mean benefits for producers including Rameda and EIPICO, as well as distributors such as Ibnsina Pharma.
In September, EIPICO ranked in 14th place down from 10th place in August, and 9th place in July 2020. Medical Union Pharmaceuticals (MUP), which is 10% owned by EIPICO, was ranked in 15th place, down from 11th in August and 14th in July 2020. EIPICO sales to pharmacies, excluding exports and government tenders, came under some pressure on a y-o-y basis, due to stiff competition in the local market.