Pharmaceutical exports targeted to reach $3B by 2030: PM

Prime Minister Mostafa Madbouly announced plans to expand Egypt’s pharmaceutical exports to $3 billion by 2030. His remarks came after a tour of several pharmaceutical factories on the 6th of October City.

“Our pharmaceutical industry has a century-long history, and in just the past few years, we’ve strengthened our position as a leading player. Last fiscal year, Egypt exported $1 billion worth of medicines, and we’re targeting an increase to $1.5 billion this year. By 2030, we expect to hit $3 billion in exports,” said Madbouly.

According to the prime minister, over the last 3 years, 15 new pharmaceutical factories have been established, bringing the total number of such facilities in Egypt to 172. Madbouly stressed that local production significantly reduces the need for imports, driving self-sufficiency in critical medicines and fueling export growth.

The pharmaceutical industry, largely driven by private sector investment, is now a major contributor to Egypt’s export economy. The Prime Minister emphasized the sector’s importance for local healthcare needs and as a key driver for international trade. Egyptian pharmaceutical products are now exported to more than 60 countries, including several in Europe.

The recent expansion has also seen the growth of related industries, with 33 new cosmetics factories and 116 facilities for medical devices and supplies now operational. Additionally, Egypt has established four new factories dedicated to the production of raw materials and biologics essential for drug manufacturing, further strengthening the supply chain.

He assured that Egypt is on track to fully meet domestic demand while increasing its output for export markets, positioning the pharmaceutical industry as a key pillar of Egypt’s economic growth strategy. Madbouly highlighted that out of every 100 boxes of medicine used in Egypt, 91 are produced locally.