Business Nigeria: Prices of Drugs Increase By 150%

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ProfRem

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Prices of essential drugs, such as analgesics and antibiotics, have increased at an alarming rate across the country.

Some drug stores in Lagos, PUNCH gathered that a sachet of unbranded Ampicillin capsules, which cost N200 a few months ago, depending on the location, now sells for N600 or more

At the Medpoint Pharmacy in Surulere on Monday, the pharmacist on duty confirmed that the prices of antibiotics and other classes of drugs used to treat major infectious diseases had gone up.

She lamented that the increment was also affecting sales as many customers, who could no longer afford to purchase drugs at the current prices, had stopped coming.

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She said, “We used to sell some pain relief drugs for N50 per sachet. Now a sachet costs between N150 and N200, depending on the brand. Ciprotab use to go for N650. Now it sells for N1,500. Also, branded antibiotics, which used to be sold for N3,500, now costs N4,800.

A pharmacist, Mrs. Adenike Ibrahim, who runs a drug store in the Ajara area of Badagry, complained that many of her colleagues could not stock their outlets due to the 150 per cent increment in the prices of drugs.

The Chairman, Pharmaceutical Manufacturers Group of Manufacturers Association of Nigeria, Mr. Okey Akpa noted that to bring down the prices, the scarcity of forex must first be tackled.
 
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