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Economic downturn shrinking Pharmaceutical business.-ACPN

Economic downturn shrinking Pharmaceutical business.-ACPN

The chairman,Association of community pharmacist (ACPN) Lagos chapter, Pharm Biola Paul-Ozieh has brought to the fore that the economic situation in the country has brought a great downsizing of the pharmaceutical industries in Nigeria, she noted that unavailability of drugs has led to the pricing of the available drugs beyond the reach of average Nigerian, and this affects negatively,the health of Nigerians to a large extent.
She observed three main reasons responsible for this negative downturns, which includes:
1. The high duties on imported pharmaceutical products.
2. The inability of Pharmaceutical manufacturers and importers to assess Forex.
3. The dwindling value of the Naira occasioned by the recession.
She observed that more than one hundred(100) pharmaceutical companies had folded due to unfavourable economic situation in the country, moving forward, she said,those bringing products do not meet the drug requirements of Nigerians i terms f appropriateness and quantity.
She noted at the just concluded 2016 Community Pharmacists Education Conference in Lagos, that, “Even though the Minister of Health, Prof. Isaac Adewole denies that pharmaceutical businesses are not shrinking in the country, I believe he is a government official. The real people to ask are the manufacturers, pharmaceutical entrepreneurs and pharmacists who are on ground.”
Pharmacist Abiola, also reminded the gathering that, the Pharmaceutical society of Nigeria,as a professional body has met with the president, Mohammadu Buhari on the need to pay special attention to the Pharmaceutical sector, and also the best way to encourage indigenous manufacturers of pharmaceuticals as we look home to deliver the economy of Nigeria from the jaws of recession.
The national president 0f ACPN, Pharmacist Albert Alkali,noted that the continuous education program was impeccably timed,as the knowledge gained will be needed by the community Pharmacist to sustain their businesses especially in this trying times of recession.

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