PMG-MAN unveils initiatives to exploit pharmaceutical industry’s potential
In a bid to address concerns in the nation’s pharmaceutical industry, Pharmaceutical Manufacturers Group of Manufacturers Association of Nigeria (PMG-MAN) has concluded plans to hold a forum to explore initiatives that will aid local manufacturing of medical commodities through policy changes, improved access to finance, increased procurement and patronage particularly from the government.
Already, the group stated that almost 50 percent of its inputs are sourced locally, adding that drug makers now buy bottles and packaging materials from other local manufacturers.
Scheduled to hold on the 25th of May 2017 at Transcorp Hilton, Abuja, the group noted that the forum is expected to drive development and Investment opportunities in Nigeria’s pharmaceuticals industry.
The Chairman, PMG-MAN, Okey Akpa, explained that the conference will also create an opportunity for local manufacturers and other key stakeholders within the public and private sector to come together to learn more about the local pharmaceutical manufacturing industry, its current challenges with supply chain management and to discuss ways to create an enabling environment for local manufacturers.
Preparatory to the event, Akpa, who was represented by the Executive Secretary of the group, Obi Adigwe, said the forum will help to address PMG-MAN’s aims and objectives which include creating a forum for better understanding between the PMG-MAN and the government, thereby creating a forum for interaction and understanding between PMG-MAN and organisations within the same field.
According to him, this year, PMG-MAN is supported by Private Sector Health Alliance of Nigeria (PHN), an association representing the country’s foremost private sector platform, established to complement the outcomes by leveraging private sector innovation, advocacy, impact investments and partnerships.
The 2017 PMG-MAN forum hopes to deepen the debate regarding the most
effective and efficient strategies to ensure sustainable access to affordable, high quality medicines for the Nigerian population.
He noted that the alliance is being led by Aliko Dangote, Jim Ovia and other corporate business leaders in Nigeria, saying that thealliance hopes to achieve its goal of saving a million lives every year through various innovations including the setting up of the Africa Resource Centre (ARC) for supply chain in Nigeria.
“What we are currently doing is to buy in pool. We come together, negotiate with a manufacturer and then get the raw materials at cheaper rates. With this, we cut costs,” he said at the pre-forum press conference on ‘Improving Access to Medicines: the Imperatives of Local Manufacturing and Effective Supply Chain Management’.
Chief Executive Officer of Private Sector Health Alliance of Nigeria (PHN), Muntaqa Umar-sadiq, said pharma spend in Nigeria is 15 to 20 percent, compared with those of other countries which is about five percent.
Umar-sadiq said it is important to look at access to capital and policy issues to unlock the market potential of the local drug manufacturing industry to ensure Nigerians have access to affordable medicines.