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Medicines: Exports Expected to Reach $80 Million in 2024

Medicine exports are expected to reach $80 million by the end of the current year, along with falling import bills, according to industry forecasts.

This was stated by the Minister of Industry and Pharmaceutical Production, Ali Aoun, who was the guest on Monday of the National Radio Channel I Forum.

Mr. Aoun indicated that the value of medicine exports โ€œwill experience a qualitative leap to reach $80 million towards the end of 2024,โ€ adding that the value of medicine imports had reached $1.2 billion. in 2023, compared to 4 billion in 2022.

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These results were made possible, thanks to local production which covers 72% of national needs, according to the minister who specified that this rate would be revised upwards to reach 80% towards the end of 2024.

He indicated that the local demand for drugs against cancer and those intended for the treatment of chronic diseases will be covered by 60%, thanks to the projects launched in this framework.

The minister highlighted the importance of controlling the profit margins of manufacturers, distributors, and pharmacists, stressing that “all medicines manufactured in Algeria are of very good quality.”

Referring to the issue of the automobile industry, Mr. Aoun indicated that โ€œall the facilitationsโ€ have been granted for the establishment of automobile manufacturing plants in Algeria, stressing that in three years โ€œthere will be an abundance of ‘offer”.

The minister explained that a โ€œreal programโ€ of automobile manufacturing will be launched in Algeria, with a gradual transition from assembly to vehicle manufacturing, indicating that the brands which have integrated the Algerian market are those which want to โ€œreally investโ€, concludes the minister.

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