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Home News

How GSk, P&G, other Pharmaceuticals Exit Hiked Prices of Drugs by 46% – Report 

by Adetunji Tobi
July 25, 2024
in News
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GSk, P&G, other Pharmaceuticals Exit
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A white paper report by Onehealth Nigeria has noted that the exit of major pharmaceutical companies in Nigeria; such as GlaxoSmithkine (GSK) and Sanofi has rocketed the price of drugs by not less than 46%. 

The report also noted that drug shortages resulting from  the exit of top pharmaceuticals have directly impacted the health outcomes of patients in Nigeria.

How GSk, P&G, other Pharmaceuticals Exit
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Adeola Alli, founder Onehealthcare Platform

Diving into the specifics, with a focus on the respondents’ views, the report noted that: “purchasing Seretide was very difficult to source for a time and it was even more difficult to watch patients suffer because they could not afford the next alternative.(Symbicort).

While some needed the branded Augmentin for an  indication the price was not friendly, I wanted to obtain Ventolin inhaler for an asthmatic patient but most of the pharmacy premises I went to didn’t have and the one i saw was times five the price it was before says respondents featured in the report.   

Furthermore, according to a respondent, the Antibiotics Amoxicillin-clavulanic acid (Augmentin),  which was a  drug that could easily  be purchased in the past,  now increased scarcity. 

Augmentin 1g which was around N6500 before GSK left. After they left it became very scarce and the available ones around  sold for N27,000.

The report which set for itself the objective of assessing the impact of pharmaceutical companies exist on pharmacies in Nigeria, analysing  the extent and nature of drug shortages resulting from the departure of pharmaceuticals companies, also investigate the challenges faced by healthcare institutions in procuring necessary drugs after the exit of pharmaceutical companies, whilst shielding  more light on how the scarcity of medications affects the health outcomes and well-being of the people 

Interrogating the direct consequences of the exit of pharmaceutical companies, asserting the extent of health shortage, its impact and outcomes on health and treatment of Nigerians.

It thus underscores the challenges healthcare institutions face in procuring necessary medications after the exit of pharmaceutical companies. 

In its comparative analysis of drugs such as; Metronidazole 400MG, OMEPRAZOLE 20MG, AMOXICILLIN 500MG CAP X10, CIPROFLOXACIN 500MG X10 and METRONIDAZOLE 400MG. 

The report noted that as at 2022 METRONIDAZOL 400MG was sold for N10, but goes for N52 in 2023, while the price jacked up to N126 in 2024.

 In the same vein, CIPROFLOXACIN 500MG X10 spiked from N50, to N85, and by the year 2024 it is sold for N580. 

The implication of the above is that pharmaceutical companies’ withdrawal from Nigeria has resulted  in significant drug shortages, impacting patients’ access to essential medications and healthcare institutions’ ability to provide adequate care. 

On the side of the patients, the exodus of the international pharmaceutical companies mirror; medication unavailability, price increases, dosage reductions, exacerbating health outcomes and increasing financial burden.

Furthermore, it was noted that healthcare institutions struggle to maintain quality care amidst medication shortages, leading to increased workload and compromised patient care, thus necessitating increasing local pharmaceutical production as a viable long-term solution to address drug shortage, enhance medication accessibility  and affordability in Nigeria.  

The report therefore recommends research and innovation, community engagement, Public-Private partnerships, regulatory oversight and an enhanced local pharmaceutical production. 

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  • Adetunji Tobi
    Adetunji Tobi

    Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

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Tags: AugmentinGlaxoSmithkinegskOneHealth Nigeria
Adetunji Tobi

Adetunji Tobi

Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

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