Health
Apprehension as Prices of Medication Drugs in Nigeria Surge by Over 1,000%
By Adedapo Adesanya
A new report from SB Morgen Intelligence has shown that prices of drugs have skyrocketed by as much as 1,000 per cent in the last four years, raising worries about Nigerians being able to treat themselves using orthodox methods.
In the report Paying the Price on Health, the firm analysed the impacts of the Nigerian economy and foreign exchange crisis on the prices of essential medicines in the country.
It was found that between 2019 and 2023, there were massive surges across four broad categories of Antimalarial, Antibiotics, Painkillers and Common Cold medicines.
The report indicates that antibiotics recorded the highest price increases, with 500mg Ampiclox capsules recording the highest jump. The cost price is said to increase by 1,390 per cent and the selling price increasing by 1,100 per cent between 2019 and 2023.
Antimalarial drugs saw the slowest price increase in the period under review, while only one (Novalgin) in the painkiller category has maintained its 2022 price in 2023, following a 25 per cent increase in price in 2022.
SBM noted that 19 per cent of respondents who participated in a 2023 survey reported spending a significant amount of their income on healthcare and 67 per cent of respondents who reported making lifestyle changes due to a high cost of living, listed cutting back on healthcare bills.
According to the method, five brands of medicine were considered in all the categories except the antibiotics where 10 brands were evaluated.
Of all the brands under the painkillers category, Emzor is the only local manufacturer with their Paracetamol accounting for the highest rate of cost and selling price increase, growing by over 450 per cent and 250 per cent, respectively, since 2019.
“This may be due to the strong brand presence that Paracetamol has built as a painkiller amongst the populace, thereby giving the manufacturer room to transfer rising production costs to the end user,” the report noted.
Like the other categories, the cost price of medicines under the painkiller category grew faster than the selling price, except Brustan-N, produced by Sun Ranbaxy, an Indian manufacturer, as the selling price grew faster than the cost price in 2023.
Medicines under the common cold category recorded the second-highest rate of increase since 2019. The report showed that on a year-on-year basis, the cost price of Procold and Mixagrip recorded the highest increase; rising by 90 per cent, while Fluj recorded the slowest rate of increase at 17.65 per cent.
Across all drug categories, the highest jump in the cost and selling prices was recorded in the antibiotics section, which was attributed to the continued demand for antibiotics.
Between 2022 and 2023, Amoxil recorded the fastest rate of increase, jumping by over 400 percentage points. This was followed by Ampiclox, which saw an increase of 240 percentage points.
Of all the categories considered, the antimalarial category accounted for the lowest rate of increase. According to the report, between 2019 and 2023, Lonart recorded the highest cost and selling price increase – up by 110 per cent and 92.3 per cent, respectively.
Unlike the Common Cold category, the rate of increase of the cost price was faster than the selling price – translating to reduced profit margins for medicine retailers.
According to the report, the rising cost of drugs in Nigeria has far-reaching consequences that extend beyond the borders of the country.
“It threatens to exacerbate global health challenges by reducing access to essential medicines, increasing the spread of diseases, and undermining international health security,” it noted.
“The high cost of drugs in Nigeria is forcing patients to skip doses or forgo treatment altogether based on anecdotal observations.
“This can lead to the development of drug resistance, making it more difficult to treat infections. It can also worsen chronic conditions, leading to increased morbidity and mortality.”
The report further explained that when patients are unable to afford essential medicines, they may resort to self-treatment or seek treatment from unlicensed practitioners, which can lead to the inappropriate use of antibiotics, and contribute to the development of drug resistance.
It added that it can also increase the spread of infectious diseases as untreated patients continue to shed pathogens
The SBM report also observed that the increased costs of medicine are also a signal that foreign inflows may slow down in the pharmaceutical business as profit margins reduce.
The report quoted Boladele Silva, a pharmaceutical professor at the University of Lagos (UNILAG), who explained that Nigeria’s pharmaceutical industry is highly exposed to shocks from foreign exchange volatility.
“In Nigeria, what we have are packaging hubs. The active pharmaceutical ingredients and most excipients used by the manufacturers are imported. That makes them very vulnerable to economic shocks,” he told SBM, explaining the hike in the prices of medicines.
By Modupe Gbadeyanka
The dream of residents of Ikeja and its environs enjoying affordable and quality care has now become a reality as a result of the opening of a new branch of SpecSMART Eye Clinic in the Opebi area of the capital of Lagos State.
SpecSMART Eye Clinic, a leading provider of optometry services in Lagos, commenced operations in Nigeria’s commercial capital in 2022.
Since then, it has been offering top-notch eye care to residents of the metropolis, especially those living on the Island. It has built a strong reputation for delivering high-quality primary eye care and optical products.
However, to extend its services to Lagosians living on the Mainland, it has now opened a new branch in Ikeja, reinforcing its commitment to providing accessible, affordable eye care to a wider community.
Business Post gathered that the clinic’s state-of-the-art services are supported by a team of skilled optometrists and opticians, utilizing cutting-edge digital equipment.
The new Ikeja location will offer a wide range of services, including Automated Eye Examinations using advanced digital equipment for precise diagnosis and personalized care.
In addition, clients will enjoy on-the-spot lens glazing for single vision, bifocals, and varifocals, with additional lens coatings, with services to be rendered seven days a week from 9 am to 9 pm on Mondays to Saturdays, and on Sundays and public holidays from 10 am 7 pm.
Also, the clinic has over 950 frames, ranging from affordable home brands to premium designer options, priced from N18,000, and has flexible appointment scheduling with 24-hour online booking via SpecSMART’s website.
The facility has partnerships with leading HMO providers in the country and offers glaucoma management and other essential eye health services.
According to the company, its introductory packages start from N30,000 and include consultation, frame, and single-vision lenses.
“With the opening of our Ikeja branch, we are ready to serve more individuals who need accessible, cost-effective, and reliable eye care.
“Our aim is to create a positive impact in Nigeria’s optometry sector by combining advanced technology with a patient-centred approach,” the Practice Head and Medical Director of SpecSMART, Dr Adaeze Nwoko, stated.
By Adedapo Adesanya
The Federal Ministry of Health and Social Welfare through the National Primary Health Care Development Agency (NPHCDA) has commenced the vaccination against Monkeypox, now known as Mpox.
Business Post reports that Bayelsa, Rivers, Cross River, Akwa Ibom, Enugu, Benue, and the Federal Capital Territory, were selected as pilot states for the vaccination.
An average of 631 persons are expected to be vaccinated across the seven states with two doses of the Mpox vaccine. A buffer for 50 persons will be kept at the national in case of an upsurge in other states.
NPHCDA in a statement posted on its verified X account confirmed the exercise, stressing that the vaccination will help to protect communities and safeguarding health of the people.
In a related development, according to the latest update by the Nigeria Centre for Disease Control (NCDC), there are 1,442 suspected cases of Mpox from 36 states and the Federal Capital Territory, while the number of confirmed cases of the infection was 118 from 28 states and the FCT.
“To prevent the spread of Mpox, we strongly advise the public to avoid contact with animals that may carry the virus, including sick or dead animals in affected areas, avoid handling materials that have been in contact with infected animals, limit unnecessary physical contact with individuals who are infected, practice frequent handwashing with soap and water, and ensure that animal food products are thoroughly cooked before eating.
“It’s also important to use protective clothing and gloves when handling sick animals or their tissues. Similarly, health workers are advised to follow standard safety protocols including droplet precautions when treating patients, use protective equipment including masks, gloves, and gowns, during patient care, and be vigilant for symptoms of Mpox, especially fever and rash, among other measures.”
By Aduragbemi Omiyale
Over 250 pints of blood have been donated by AXA Mansard Health to the Lagos University Teaching Hospital (LUTH), Idi Araba.
The blood was donated by more than 100 employees of the leading health insurance company in Nigeria through its volunteering programme tagged AXA Hearts in Action.
The initiative is part of the company’s blood donation drive aimed at contributing to positive societal and environmental impacts through employee volunteering, and expertise related financial support and in-kind donations.
According to the Chief Client Officer of AXA Mansard, Ms Rashidat Adebisi, “Through the AHIA, our employees do not just give time to great causes; we work together for a better future.”
“We share our time, knowledge and expertise as a people with a shared purpose of acting for human progress by protecting what matters through initiatives like this,” she added.
Ms Adebisi said the blood drive is a shining example of the philosophy in action, where collective contributions serve as a reminder that true impact often involves giving more than just money. It’s about putting one’s heart in action – an idea embedded in AXA’s corporate culture.
On his part, the chief executive of AXA Mansard Health Limited, Mr Tope Adeniyi, said with hospitals frequently experiencing blood shortages, events like these serve as a lifeline for patients in need.
“We are proud to contribute to the local healthcare sector and provide much-needed support to hospitals such as LUTH, ensuring that they have resources essential to saving lives,” he added.
Also commenting, the Head of Corporate Services and Public Relations at LUTH, Omolola Olubukunola Fakeye, thanked the firm for the “generous support,” which has made a “meaningful difference to our blood bank and ultimately to the lives of patients.”
“Blood donations are invaluable in many critical treatments, and initiatives like AXA Mansard’s blood drive bring immense relief to healthcare system.
“We are sincerely grateful for this partnership and the dedication of AXA Mansard’s employees,” Fakeye stated.
AXA Hearts in Action operates globally, she urging AXA employees everywhere to engage with and give back to their communities.
Through diverse projects – from health initiatives like this blood drive and medical outreaches to environmental efforts like the AXA Week for Good “Trash-to-Treasure” waste management project – AXA staff have opportunities to make a lasting difference on issues that matter.
For AXA Mansard, every act of social service brings them closer to the communities they serve, helping build a world where giving back is not only about charity but about lasting, positive change.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking6 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN