Exit of multinational pharmaceutical companies: An imperative for developing local production capacity

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The Nation Newspaper Exit of multinational pharmaceutical companies: An imperative for developing local production capacity

In the last quarter of 2023 two Multinational Pharmaceutical Companies, GSK and Sanofi, announced they were leaving the Nigerian market and were changing their business model in the country to be handled by a third

the wake of these announcements Procter and Gamble, another pharmaceutical and consumer goods producer also announced it is exiting the pronouncements have left many stakeholders in the pharmaceutical industry befuddled considering the roles multinational companies play in local economies in Africa and particularly in households rely on products from these companies to meet their health care needs daily and the fear is that these exits may cause disruptions in the steady supply of essential...

This approach will ensure safe, effective and affordable medicines are accessible to Nigerians and set us up on the path to medicine security as a the position of Nigerian in the West African sub-region and the yawning gap for medicines in those countries and opportunity for export will be from models adopted by India and China, who have become the global pharmacies where almost every country patronise for their medicines began by becoming intentional with their objective to become...

The Nigerian government should make the environment conducive to all stakeholders for ease of investment by reforming the regulatory framework, creating production incentive schemes, bulk industrial and production drug parks and special loan schemes for pharmaceutical production.

 

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