NAFDAC reveals reason behind hike in prices of drugs

The Director-General, National Agency for Food and Drug Administration and Control (NAFDAC), Mojisola Adeyeye, said GlaxoSmithKline (GSK) Consumer Nigeria’s impending exit is not to blame for the rising costs of drugs in the country.

Adeyeye said the prices of drugs had been rising before the company announced to stop operation. She blamed the devaluation of the naira for the hike.

According to Adeyeye in a report by NAN on Saturday: “The first reason for the increment in the prices of drug is that the value of naira has depreciated.”

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Ripples Nigeria reported that GSK Nigeria announced in August that the company would cease operation after its parent company, GSK UK, said it was contracting a third party for the production and marketing of its products in Nigeria.

Speaking further, the NAFDAC boss said: “Before the planned exit of GSK from the country, prices of commodities general had gone up and some of the products GSK produced has decreased

“From the regulatory perspective, we encourage local manufacturing and GSK have collaborated with local manufacturers. So it is not like they import everything.”

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