United States based pharmacist, Dr. Christian Ike, has posited that it is difficult for pharmacists in standard practice especially at initial startup to break even in the midst of ubiquitous Patent Medicine Vendors (PMV).
Ike said that under this scenario, pharmacists should be consistent with high standard and establish trust that would gradually lure the patients from the PMV towards seeing the need to get well with the right medication and thus start patronizing the pharmacies despite the apparent higher cost than the PMV.
Experts have called for the adoption of newer technologies in Nigeria such as mass serialization and blockchain to reduce the incidence of fake and counterfeit medicines.
In blockchain, the company’s strategy is to assign each product as an asset and add them to the blockchain. Each item will be given a unique number (hash) that will be verified through the company’s blockchain technology.
The Pharmaceutical Society of Nigeria (PSN) has commended President Muhammadu Buhari on the appointment of substantive Director-General/CEO of National Agency for Food and Drug Administration and Control (NAFDAC).
Buhari had approved the appointment of Prof. (Mrs.) Moji Christianah Adeyeye, a Professor of Pharmaceutics and Drug Product Development and Evaluation at the College of Pharmacy, Roosevelt University in Schaumburg, Illinois.
The global pharmaceutical industry has become a major contributor to the global economy. In 2012, total world pharmaceutical market was worth an estimated $857 billion. This is twice the total GDP of Nigeria, the biggest economy in Africa. The United States and Canada remained the world’s largest market with 41 per cent share, Europe came next with 26.7 per cent, followed by Japan with 11.7 per cent. Africa and Asia (excluding Japan) had 14.7 per cent while Latin America had the balance of 5.9 per cent. When the data is further disaggregated, sub-Saharan Africa will be seen to contribute less than two per cent of the global pharmaceutical market ($8-$10 billion)
Roughly every six minutes, a woman somewhere in the world bleeds to death in child birth. But a new medical trial shows that there is a way of combating the problem.
The trial has found that a simple drug called tranexamic acid, a blood clot stabiliser first discovered in Japan in the 1950s, could cut deaths from bleeding by a third if given to women within three hours.
A landmark, historic event took place in the annals of Nigeria's Pharmaceutical sector and the healthcare industry as a whole with the launching of the PSN Foundation and the inauguration of the Trustees of the PSN Foundation by the Hon. Minister of Health, alongside the President of PSN and the Dep. President of the NMA in the presence of the Emir of Kamo, Lamido Sanusi II (ably represented). Download the Making of the PSN Foundation brochure to know more...