Pharmaceutical exports expected to hit $USD 80 million in 2024, says Aoun

ALGIERS – The Minister of Industry and Pharmaceutical Production, Ali Aoun, said on Monday in Algiers that pharmaceutical exports are expected to amount to USD$80 million by the end of the year alongside a decline in the import bill, as per sector projections.

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As a guest on the Forum of Channel I of the National Radio, Aoun said that the value of pharmaceutical exports value “will see a significant increase to hit USD$ 80 million towards the end of 2024.

He added that the value of pharmaceutical imports reached USD$1.2 billion in 2023, compared to USD$4 billion in 2022.

These results were achievable due to local production fulfilling 72% of national needs, according to the minister.

Aoun indicated that this rate would be increased to reach 80% by the end of 2024.

He said that the local demand for cancer drugs and those used to treat chronic diseases will be met by 60%, thanks to the projects launched in this regard.

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

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