Breaking News: Following the 2023 exit of pharmaceutical giants GlaxoSmithKline (GSK) and Sanofi Nigeria Limited from Nigeria, the Nigerian pharmaceutical sector is on track to achieve 70% local production of pharmaceutical products; 9am News Nigeria can report.
This announcement was made by the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye at the recently held Nigerian Pharmaceutical Manufacturers Expo in Lagos state.
Local Production Pharmaceutical Products
Prof. Adeyeye disclosed that the sector of local production pharmaceutical products is currently slightly above 30% but fast increasing and would soon hit 40%.
She noted that it was crucial for the nation to reduce its dependence on imported pharmaceutical products which are often too expensive.
In her comments made available to 9am News Nigeria she said “Our goal is to increase local manufacturing to 70% or 80% while limiting importation to 10%. This shift will secure a more resilient and self-sufficient pharmaceutical sector.”
She highlighted that a Pharmaceutical firm operating in Nigeria, Swiss Pharma Nigeria Limited developed an antimalarial drug which is on the verge of approval by the World Health Organization (WHO).
The approval of the antimalarial drug by WHO will make Swiss Pharma Nigeria Limited the first pharmaceutical company in West and Central Africa to have two of its products successfully approved and endorsed by the WHO.
She disclosed NAFDAC’s role in the success story of Swiss Pharma Nigeria Limited saying “NAFDAC’s technical support was instrumental in this success, facilitating WHO’s inspection and review processes. This is a pivotal moment for our industry, we expect more local products to gain pre-qualification, reinforcing the strength of Nigeria’s pharmaceutical sector,’’.
Ogasabi of 9am News Nigeria wishes to bring to your recollection that in August 2023 GlaxoSmithKline pulled out of Nigeria after 51 years of operations, citing forex problems and severe economic downturn while Sanofi Nigeria Limited exited Nigeria in November 2023 citing similar reasons.
Stay tuned to 9am News Nigeria for more updates Finance News, Sports updates And Entertainment Gists.
