Minister of Health meets Pharmaceutical Companies over rising medicine costs

Minister of Health has met with Pharmaceutical Companies over rising medicine costs amid public outcry in Nigeria.

 

Newsonline Nigeria reports that Dr. Muhammad Ali Pate, the Coordinating Minister of Health and Social Welfare, held a  discussion with Nigeria’s pharmaceutical companies’ representatives and CEOs to address the escalating prices of medicines that have burdened Nigerians.

This Nigeria news platform understands that Dr. Pate in a session convened during the 64th National Council for Health in Ekiti, emphasized the urgency of understanding the perspectives of the pharmaceutical sector to devise pragmatic solutions in the nation’s best interest.

 

ALSO: President Tinubu applauds Weah for conceding defeat in Liberia

 

“We are concerned about the high out-of-pocket expenses Nigerians experience in order to access medicines and other pharmaceutical products,” he stated, underscoring the need for sustainable and affordable healthcare options.

 

Highlighting the government’s commitment to alleviating this challenge, Pate outlined plans to initiate private sector-led efforts for local production of critical health products. “Our intent is to stimulate private sector-led, sustainable, local production of critical health products,” he affirmed.

Addressing the concerns regarding surging medicine prices, industry insiders and consumers attribute the issue to inflation rates, foreign exchange fluctuations, and the departure of pharmaceutical companies from the Nigerian market.

 

This situation has sparked widespread distress among both customers and pharmacists, prompting urgent appeals to the government for intervention.

 

In response to these concerns, the Ministry has scheduled an exclusive follow-up meeting next week with key national stakeholders in the pharmaceutical industry.

 

Pate expressed optimism about finding solutions through collaboration and concerted efforts: “We have scheduled an invitation-only meeting next week with key national actors in the industry to follow up and find workable solutions.”

The call for swift action resonates among stakeholders as they await decisive measures to curb the soaring costs of medicines, which directly impact the nation’s health and the cost of living.