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The Economy & You

The Economy&You - Bukky George

Sun 20th Mar 2016

The pharmaceutical sector is a complex one, involving many different stakeholders such as the manufacturers themselves, national regulators, government ministries, wholesalers and others. Developing the industry requires concerted action across these stakeholders to create the environment in which the industry can flourish and realize its full potential as an asset to economic and social development. According to the Pharmacists council of Nigeria (PCN) there are about 120 registered drug manufacturers, 1600 retail pharmacies, 730 drug distributors and 300 drug importers in the country with an annual growth of 13% and estimated market size of 1.8billions dollars. A recent survey by UNIDO, shows that poor infrastructure is responsible for high cost of medicine manufacture and growth, nonetheless reveals that there are opportunities in the pharmaceutical industry.

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