Tuesday, August 23,
2016
Economic recession
notwithstanding, practitioners in the pharmaceutical industry have identified
the imperative of new investments as driver of real development in the
pharmaceutical manufacturing sector in Nigeria and Africa.
They said that with
growing reduction in foreign direct investment, stakeholders must re-strategise
efforts at attracting home-grown investments to keep the sector robust and
meeting the needs of the citizens.
The call was made
against the backdrop of growing scarcity of some imported pharmaceutical
products and rise in prices of their locally-made counterparts, both of which
were blamed on spike in foreign exchange rate to the Naira.
The Association of
Community Pharmacists of Nigeria (ACPN) said the health sector and the Nigerian
publics are beginning to feel the scarcity of some crucial pharmaceutical
items, and called for special intervention fund to save the sector.
Founder and Chief
Executive Officer of PharmaAfrica, Miles Mudzviti, said it was high time major
stakeholders, both in the public and private sectors, came together to chart
the way forward, with a common understanding on the type of industry they want
to see in the next couple of years.
Mudzviti, who spoke
ahead of the fourth edition of the Africa Pharmaceutical Summit and exhibition,
said some of the issues most pressing for attention are in the area of capacity
and capability for manufacturing, developing framework for deregulated
environment and facilitating investments into the pharmaceutical industry among
other.
He said, despite the
current economic outlook, Nigeria, which is responsible for about 78 per cent
of drugs manufactured in the West African region is at a vantage position to
lead her neighbours into real development.
In his words: "I
recognise that it is very challenging for local manufacturers in Nigeria at the
moment with majority of the raw materials, equipment and maintenance all
imported. At the current exchange rate, it is obviously that manufacturers will
be on the back foot.
"There is,
however, a space where government can play a role in supporting industries for
the short term like giving forex till the economy improves. But on the main,
there are opportunities in the long run."
He observed that over
the years, there had been efforts to support local companies to get Who Health
Organisation's (WHO) prequalification and a lot of investments through the Bank
of Industry.
"Quite obviously,
there is a lot more that can be done in terms of looking at how government,
which is the main customer of manufacturers, buy these products. Public sector
has really done well but there is more to be done.
"There are also
interests from the private sector, with a lot still looking at Nigeria. The
fundamentals for such investments are strong though the environment are quite
challenging."
He added that the
African Pharmaceutical Summit (APS) had been at the forefront of achieving the
common frontier to develop the sector in Africa, organising APS summit across
the regions.
He said Nigeria would
lead neighbouring countries at the West African and fourth edition of the
summit and exhibition, holding in Lagos from September 6 to 7.
Mudzviti said:
"Nigeria is very key to the development of the sector in Africa, with
greater concentration of indigenous companies here. This is the biggest economy
on the continent as well.
"For us, we feel
that it is an opportunity to bring the platform here and try to get some
momentum on issues of common interest like distribution, upgrading capabilities,
future landscape of health insurance, good distribution systems and
practices," he said.
Chairman of the Lagos
branch of Association of Community Pharmacists, Biola Paul-Ozieh, appealed to
the Federal Government to activate the Pharmaceutical Intervention Fund (PIF),
to save the pharmaceutical sector from total collapse.
Paul-Ozieh, noted that
the high foreign exchange rate and the consequent high cost of purchase and
importation of medicines were discouraging importers.
"The situation has
also caused the increase in the products that have been imported. It is
currently affecting the affordability of medicines among the ordinary Nigerians
who pay-out-of-pocket for their healthcare. For us to be able to have universal
health coverage we must have affordable medicine.
"The National Drug
Policy also indicates that we must be able to make our medicines locally. If
today in Nigeria, 80 per cent of the drugs we use are made locally, the drugs
will be more affordable to the populace," she said.
Paul-Ozieh added that
the PIF would serve as a revolving fund for drug manufacturers who need capital
to build local manufacturing plants, thereby reducing the country's dependence
on imported drugs.
"Government needs
to encourage local manufacturers and put petrochemical industries in place, so
that raw materials will be available and manufactures can source their raw
materials locally. That way, we will be self-sufficient in terms of drugs
production and administration in the country," she said.
SOURCE: THE GUARDIAN