Egypt Faces Large Pharmacy Workforce Exodus
The pharmacy profession in Egypt is facing an escalating crisis due to declining profits for pharmacies and an increasing number of pharmacists. Over the past three years, around 1,500 pharmacists have submitted requests to surrender their licenses and change their activities, citing financial pressures. Price gaps in the pharmaceutical market, particularly the rising costs of medicines, have led to losses estimated between 5% and 7% of the pharmacies’ monthly inventory value. These pharmacies achieve sales approaching 300,000 Egyptian pounds per month. Additionally, the cost of medicines has risen significantly—for example, the price of a medication pack has increased from 120 to 150 Egyptian pounds—doubling the losses. Officials have criticized the recent increase in pharmacists’ profit margin by 2%, calling for it to be raised to 5% in order to reduce this gap and improve financial conditions, amidst a significant oversupply of graduates and a limited market capacity to absorb them.
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