BMI View: While BMI’s core view for Egypt is that it will eventually emerge from its political turmoil as a stronger economy with a greater emphasis on healthcare, there are obvious downside risks to this view. The biggest threats to the country’s pharmaceuticals and healthcare industry are the drug pricing regime - which is disadvantaging local production with unprofitable margins – the political uncertainty and the loss of foreign investment and tourism, which bodes poorly for its macroeconomic growth. Headline Expenditure Projections ?? Pharmaceuticals: EGP12.83bn (US$2.11bn) in 2012 to EGP14.45bn (US$2.01bn) in 2013; +12.6% in local currency terms and -5.0% …
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