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NAFDAC’s new rules will cause 100 per cent rise in prices of drug —Pharmacists
Pharmacists in the country have warned of an imminent rise in the price of drugs in the country.
This increment is expected to be 100 per cent and soon
The Chairman of the Lagos State Branch of the Pharmaceutical Society of Nigeria (PSN), Mrs Bolanle Adeniran, gave the warning during an event organised by the Lagos Chamber of Commerce and Industries recently.
On how soon, she explained that the price increase might take effect in about six months from now if the National Agency for Food and Drug Administration and Control (NAFDAC) does not reverse the 350 per cent levy it imposed on drug and product registration in the country.
Meanwhile, Adeniran in a statement released on Friday commended the landmark reforms made by the Director-General,NAFDAC, Prof Mojisola Adeyeye.
She was quoted as saying, “While the industry was grappling with challenges of delays, NAFDAC made the most damaging move in the last couple of weeks by increasing drug and product registration levy by a whopping 350 per cent.
Read also: Lagos govt probes 2 LASTMA officers over extortion allegations
“Specifically, from N350,000, it now costs N1.05m to register a prescription-only medicine, while over-the-counter drugs have moved from a hitherto expensive N1m to N4m in Nigeria.
“The Pharmaceutical Society of Nigeria, Lagos State Branch, has analysed NAFDAC’s 350 per cent increase and we respectfully declare that there is absolutely no basis for such, whether in terms of improvement in the economic fortunes in our industry or a propensity for drastic improvement in service, like in terms of the ease of doing health care business in Nigeria.
“If this draconian policy is not reversed or immediately remedied, the PSN, Lagos State Branch, wishes to warn through this forum that Nigeria will experience at least a 100 per cent increase in drug prices in about six months, with grave consequences of morbidity and mortality to consumers of health in our nation.
“As a matter of fact, it will incentivise fake drug dealers who will bring in their deadly merchandise at cheaper rates relative to expensive registered products.”
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