Pharmacists, patients lament hike in drug prices
According to pharmacists and patients, the prices of drugs have increased by up to 100 percent, leading to concerns and frustrations. This surge is attributed to inflation, volatile foreign exchange rates, and the rising costs of petrol.
Sesan Kareem, Founder and CEO of HubPharm Africa, emphasized the impact of these price hikes on the purchasing power of individuals. He stated, “The cost of drugs has significantly increased, with some experiencing a rise of about 100 percent. It’s now survival of the fittest, and both the rich and the poor are feeling the impact. It’s a tough time for many people. Almost all drugs, including those for diabetes, hypertension, and other conditions, have seen significant price increases by about 50 to 100 percent.”
A recent survey by the Association of Community Pharmacists of Nigeria confirmed these findings, revealing that the prices of most medicines had risen by at least 30 percent within the past two months.
Adewale Oladigbolu, National Chairman of ACPN, expressed concern about the potential consequences of this price surge on the delivery of quality healthcare in the country. He commented, “Many individuals may struggle to afford the essential drugs they require for their well-being.”
Mrs. Nkechi Innocent, a diabetic patient, shared her personal experience, explaining that a medication she used to purchase for N3,500 has now increased to N4,500.
Several other patients also voiced their worries over the escalating prices, fearing it may lead to self-medication practices.
The rising drug costs have sparked widespread concern among both pharmacists and patients, underscoring the urgent need for measures to address this issue and ensure access to affordable healthcare for all.