Pharmaceutical Products in Algeria: Expected $4 Billion Production in 2024

✏️ BY: Dr. Hana Saada

Algiers- Algeria, May 12, 2024 – Minister of Industry and Pharmaceutical Production, Ali Aoun, revealed on Sunday that Algeria’s pharmaceutical sector is anticipated to achieve over $4 billion in production in 2024, according to sector forecasts.

Speaking at the El Moudjahid Forum, Aoun highlighted the significant growth of the local pharmaceutical industry, with 300 public and private units contributing to a production value of $3.56 billion in 2023 and $3.14 billion in 2022.

In addition to the increase in production, the minister noted a decline in import figures within the sector. Import numbers stood at $1.422 billion in 2022, decreased to $1.293 billion in 2023, and are projected to further decrease to $1 billion in 2024.

Aiming for an 80.48% Market Coverage

Aoun stated that the local industry is expected to achieve an 80.48% market coverage rate by the end of the current year. He added that Algeria currently produces over 3,400 drug molecules out of the 4,500 molecules available in the national market.

During the forum, the minister discussed advancements in vegetable oil production projects, particularly the “El Mahroussa” plant in Algiers, which is set to undergo an expansion to meet the demand for cooking oil.

Aoun also highlighted the sugar transformation project in Larbatache (Boumerdès) and the establishment of four chemical yeast production projects in Tipaza, Djelfa, Chlef, and Oran.

Moreover, he pointed out the significant achievements in national cement production, enabling exports worth $747 million in 2023. Algeria also ranks third in the Arab world in the iron and steel sector, with production expected to reach 4.2 million tons in 2024.

In conclusion, Minister Aoun expressed optimism about the growth of the pharmaceutical sector and its substantial contribution to the diversification and development of the national economy.

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