Chairman of the Pharmaceuticals Chamber Ali Oaf stated in a phone-in that a state-owned baby formula factory would begin offering – in a few weeks - its product at pharmacies in a price that is less than that of imported counterparts by 40-50 percent.
The factory is one the six largest in the world and is still in the process of acquiring the necessary approvals.
Oaf pointed out that locally-manufactured baby formulas used to be offered exclusively through public healthcare facilities by prescription in order to inhibit their circulation in the black market. Although the cost of the pack is around LE150, it is sold at a subsidized price which is LE5. On the other hand, the consumer price of a pack of imported baby formula is LE250.
The total number of baby formula packs consumed in the Egyptian market per annum amounts to 50 million; half of them are locally-made and subsidized.
Source: Egypt Today
