Pharmacists Give New Price of Essential Drugs After Two Companies Leave Nigeria

• The exit of GlaxoSmithKline, a leading healthcare and biotech company, one year ago from Nigeria is a big headache for Nigerians
• Almost all drugs heavily affected by GSK's departure include pain relievers, antibiotics, and others
• The depreciation of the naira has also played a significant role in the rising prices of drugs at pharmacies

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The cost of essential drugs at pharmacies across the country continues to rise, placing additional strain on Nigerians' access to healthcare.

Checks show that the prices for over-the-counter and prescription medications at pharmacies across the country have surged by as much as 300% since GlaxoSmithKline decided to leave Nigeria one year ago.

Read also

Dealers adjust prices for cooking gas again, marketers give reasons

Additionally, the depreciation of the naira against the US dollar in the foreign exchange market has made imports more expensive.

GlaxoSmithKline manufactures life-saving medicines such as Amoxicillin / Clavulanic acid, Ampiclox, Seretide, Ventolin inhalers, and Augmentin 625mg, among others.

Another pharmaceutical company that left Nigeria in the past year is Sanofi-Aventis, the producer of polio vaccines for children, among other products.

Change in price of some of GSK products

BusinessDay reports that the prices of the mentioned drugs produced by GSK at pharmacies across the country have increased.

One of the drugs, Augmentin 228mg and 475mg, now costs N12,000 and N18,000, respectively, compared to N2,950 and N4,200 in August 2023 when GSK left the country.

Read also

‘Thank you’: Nigerians rush to buy as billionaire company crashes cement price to ‘N6,000’

Snapshot of the changes in prices for some drugs

Pharmacist speaks

A pharmacist, John Chime, confirmed to Legit.ng that drug prices have increased, noting that the changes affect patients and healthcare providers.

"The recent increase in drug prices is putting a strain on patients and healthcare providers alike. Many of my customers come and turn around after hearing the prices.

It is difficult for many to afford the treatments they need."

NAFDAC speaks on danger of buying from street hawkers

Earlier, Legit.ng reported that Nigerians have been warned to desist from buying drugs from street hawkers across the country to treat illnesses.

The National Agency for Food and Drug Administration and Control (NAFDAC) issued the warning during a summit on the dangers of hawking drugs.

Read also

New petrol prices at filling stations as marketers set date scarcity will end

NAFDAC stated that drugs exposed to heat are not effective for treating illnesses.

Source: Legit.ng