Expect 100% hike in drug prices, PSN tells Nigerians

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The Lagos State Branch of the Pharmaceutical Society of Nigeria has warned that there will soon be at least 100 per cent increase in drug prices across the country.

The Chairman of PSN in the state, Mrs Bolanle Adeniran, who spoke at an event organised by the Lagos Chamber of Commerce and Industries on Thursday, said the price increase might take effect in about six months from now if the National Agency for Food and Drug Administration and Control does not reverse the 350 per cent levy it imposed on drug and product registration in the country.

She said NAFDAC also needed to eliminate the delay associated with registration of drugs and related products, adding that the registration could take over two years in bizarre instances.
According to a statement by the PSN on Friday, Adeniran said the Director-General, NAFDAC, Prof Mojisola Adeyeye, had carried out various landmark reforms in the sector, including ISO Certification of laboratory facilities, reducing the sector’s political exposure and subjecting NAFDAC to the World Health Organisation global benchmark.
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