Tag: pharmaceuticals

FG to issue Executive Order to lower pharmaceuticals’ costs – Health Minister

Aminu Imam

Minister of Health, Ali Pate, has disclosed that the Federal Government will soon issue an Executive Order to control pharmaceutical pricing and lower the cost of necessary medications in Nigeria. Pate stared this on Wednesday, while interacting with State House correspondents after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu. He explained that the Executive Order aims at enabling local drug manufacturers to thrive, while ensuring fair pricing of essential medicines. According to the Minister, the decision follows the exit of major multi-national pharmaceutical companies from…

Read More

Inflation: Beecham Ampiclox jumps from N750 to N9,000; Augmentin N4,000 to N26,000; Paracetamol N40 to N150 – SBM Survey

Aminu Imam

A new survey has revealed that the economic hardship assailing Nigerians under President Bola Tinubu has continued to cause incessant hikes in the prices of drugs for malaria and other common conditions.  The survey conducted by SBM Intelligence, titled: ‘Paying the Price on Health’, compared the prices of pharmaceutical products back in 2019 with their prices as of November 20, 2023. Amid unfavourable economic circumstances in the country, British multinational pharmaceutical giant GlaxoSmithKline, in August 2023, announced plans to cease operations in the country after 51 years. Sanofi, another global…

Read More