FCCPC begins inquiry into high cost of BP, diabetes medications

The Federal Competition and Consumer Protection Commission (FCCPC), has commenced an inquiry into the high cost and variation in the prices of drugs in the country.

Executive Vice Chairman of the Commission, Mr Tunji Bello, said at the opening of the inquiry with pharmaceutical and healthcare stakeholders in Abuja, yesterday, that the inquiry was in line with the Commission’s mandate.

Bello was represented by Mrs. Boladale Adeyinka, the FCCPC’s Director, Surveillance and Investigations Department.

He said the inquiry was aimed at identifying factors contributing to the disparities in healthcare accessibility and affordability, particularly regarding blood pressure and diabetes medications.

Bello said the cost of medications had risen significantly over the past one year, which has made it difficult for consumers to afford the treatment they needed.

“We believe that this forum will be the basis for recommendations and a way forward and also ensure that Nigerians have access to quality and affordable healthcare services.

“The high cost of drugs not only affects patients’ health outcomes but also places a strain on our health care system.

“The Commission has received consumer complaints regarding the variation and high costs of the same drugs in different markets,” he said.

President, Pharmaceutical Society of Nigeria (PSN), Ibrahim Tanko, said that access to affordable and quality medicine was the fundamental pillar of healthcare.

Tanko, represented by Salamatu Orakwelu, the Chairman, Abuja Chapter of PSN, said that collaborative efforts between policy makers, health care professionals and industry players  was critical to tackling challenges and safeguarding patients’ wellbeing.

He said that PSN would support initiatives that would promote price stability, enhance drug accessibility and strengthen the National Health Insurance Authority (NHIA) for the benefit of all Nigerians.

“As pharmacists, we remain committed to ensuring equity, transparency and sustainability in the pharmaceutical supply chain. Together, we can build a health care system that truly serves the people,” Tanko said.

National chairman, Association of Community Pharmacists of Nigeria, Ambrose Ezeh, said healthcare services should also be considered to achieve a robust health care system in the country.

“When we are talking about patients, healthcare services should also be mentioned because there are a lot of things that contribute to a perfect health care system and not just drugs,” he said.

Speaking on factors contributing to the high cost of medications, Ezeh said 70 percent of raw materials used in drug production were imported. He said foreign exchange rate and electricity tariffs were major contributors to the high cost of medications.

“Local manufacturers source most of their materials outside the country. Even starch to produce paracetamol is imported,” he said.

Ezeh appealed to the government to subsidise energy for drug manufacturers in the country to help bring down prices.

Osaretin Asowata, a pharmacist and representative of the Society for Family Health (SFH), Abuja, said the Society would support any initiative or steps aimed at making not just medicines but healthcare more affordable and accessible to Nigerians.

Other health sector stakeholders from different pharmaceutical stores and companies attended the event.