Lebanese Pharmaceuticals and Healthcare Industry: Investing in the Pharmaceutical Industry to Promote Exports

Abstract

Compared to importation, the pharmaceutical production in Lebanon is still weak. The generics prescription is neglected according to the medicines of origin as only big brands dominate the Lebanese market. Despite the agreements between Lebanon and other Arab countries, the nature of the regulatory environment in the latter is likely to be a substantial obstacle that prevents the access of the Lebanese medicines to the markets of the Arab countries. On the other hand, the development of a new market access remains a necessity for increasing the volume of pharmaceutical exports. This paper aims to demonstrate, based on the Lebanese market analysis the significance of supporting local pharmaceutical manufacturing since it contributes as a primary factor in reducing the cost of the medical bill for citizens, public institutions, and payers. The paper concludes with a set of recommendations to strengthen the pharmaceutical sector as well as to stimulate and develop the local production of pharmaceutical medications.