Egypt has seen a decade of great transformation, from political instability and uncertainty to its current relative stability. Healthcare reform now stands near the top of the government’s agenda and efforts are being made to roll out universal healthcare and provide greater access to affordable treatments to the entire population. This new economic and social climate is creating significant opportunities for both local and multinational pharma companies, many of which are growing at astounding rates in Egypt. Here, we list five of Egyptian healthcare and life science’s most notable decision-makers, whose actions are helping shape a new landscape.
Mohamed Maait, Egyptian Minister of Finance, Health Insurance Authority
Dr Mohamed Maait serves as the Egyptian Minister of Finance as well as the Chairman of the Board of Directors of the Comprehensive Health Insurance Authority, a role he has held since 2018.
In this role, he has recently advocated for needy families by securing public treasury funds that will pay for their health insurance subscriptions. The country’s new healthcare system is being introduced this year and will be mandatory for all citizens. Before being appointed as Finance Minister, Dr Maait was the Vice Minister of Finance for Public Treasury Affairs and Head of the Economic Justice Unit.
During his 33-year career, he has held positions of increasing responsibility in various financial and insurance departments in the Egyptian government. Dr Maait has more than 30 years of teaching and research experience at universities in Egypt, Sudan, England and Scotland. He holds a BSc degree in Insurance and Mathematics, an MPhil in Insurance, and a PhD degree in Actuarial Science.
Basyouni Abuseif, Country President & CEO, Novartis Egypt
Basyouni Abuseif has served as the Country President and CPO Head of Novartis Egypt since 2014.
Our pharma division has managed to launch five molecules over the last three years
At Novartis, his role is to develop relationships with external stakeholders, build the company’s reputation locally, ensure adherence to compliance guidelines and laws, and execute corporate initiatives in Egypt. Novartis has been recognized as the largest multinational pharma company in Egypt with over USD 288 million in sales in 2018, exporting its products globally.
According to Abuseif, “our pharma division has managed to launch five molecules over the last three years and we are planning to introduce a new migraine treatment before the end of this year, with three more scheduled for the next two years.”
Prior to his current role, Basyouni held other positions at Novartis, including Human Resources Head for the Middle East and North Africa Cluster. Before joining Novartis in November 2009, Basyouni spent almost 20 years in the pharmaceutical industry gaining broad functional experience in sales, marketing, business development for Eli Lilly’s Middle East division. Basyouni holds a Master’s degree in Business Administration and a Bachelor’s degree in Pharmacy from the University of Mansoura in Egypt.
Khaled Atef El Mounayri, Country Manager, AstraZeneca Egypt
Khaled Atef El Mounayri has served as the Country Manager for AstraZeneca Egypt since 2012, and in 2017 his role was expanded to include all of North Africa.
[Egypt] remains AstraZeneca’s fastest-growing emerging market
He began at AstraZeneca in 2004 as the area marketing manager for Egypt, and later taking on increasing responsibility within the company. Prior to working for AstraZeneca, El Mounayri spent 11 years at GSK as a group product manager.
In 2006, AstraZeneca chose Egypt as the first country to host a production plant in the Middle East, and Egypt is considered one of the key drivers of AstraZeneca’s international business. El Mounayri remarked that “the country remains AstraZeneca’s fastest-growing emerging market and between 2017 and 2018 we grew by 41 percent. This means we are the fastest-growing multinational pharmaceutical company in Egypt currently and have been in this position for the last five years.”
Riad Armanious, CEO, Eva Pharma
Riad Armanious is the CEO of Eva Pharma, which is one of the fastest-growing local companies in the Middle East & North Africa region and a licensed distributor for Gilead in Africa.
Egypt is a sizeable market with excellent fundamentals
Armanious hopes to transform Eva Pharma, founded in 1919 by his grandfather, from a regional generic manufacturing centre into a research and development focused powerhouse. He is one of the co-founders of T20, a think tank network of over 700 Egyptian professionals whose mission is to better their country through economic and social development, and he was the only Egyptian on the World’s Economic Forum’s 2018 list of 100 global leaders under 40.
In an interview with PharmaBoardroom in 2016, Armanious reflected a positive outlook for his country’s healthcare industry, commenting that “Egypt is a sizeable market with excellent fundamentals; a reasonable portion of the population has access to pharmaceuticals and access is likely to greatly improve, pharmaceutical spending per capita is still quite low and will have to increase, and the population is growing.”
Mohamed Roushdy, Chairman & CEO, Amoun Pharmaceutical
Dr Roushdy has been the Chairman and CEO of Amoun Pharmaceutical since 2012.
Amoun is one of the largest domestic companies in the Egyptian pharmaceutical market, and its holdings were acquired by Quebec-based Valeant Pharmaceutical for USD 800 million in 2015. Amoun manufactures, markets and distributes branded generics, currently counting 175 human health products and 21 veterinary products.
Dr Roushdy has 33 years of pharmaceutical industry, management and business experience. Prior to joining Amoun, he served as Chairman & Chief Executive Officer of Pfizer Middle East, which spans 14 countries. He began his Pfizer career as a Marketing Manager in Egypt in 1984, and assumed positions of increasing responsibility, including General Manager and Country Manager of Pfizer Egypt. He holds a Master’s Degree in Pharmacology and a Bachelor’s Degree in Business Administration.