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Nigeria: Unlocking the Value Chain in Motion - Testing Nigeria's Bold Bet On Local Pharmaceutical Manufacturing
2025-04-27 18:45:03| Spiritual Career Counseling
In August 2023, Nigeria's second-largest pharmaceutical company, GlaxoSmithKline (GSK), announced its exit from the country, ending its 51-year presence.Three months later, Sanofi, another leading pharmaceutical company, also announced their exit from Nigeria. The recurrent instability in the foreign exchange market and high manufacturing costs made it difficult for multinational companies to sustain operations, as they rely heavily on imported raw materials.The exit of these companies left a void in Nigeria's pharmaceutical supply chain]; however local pharmaceutical companies are progressively taking action to effectively fill the existing gap. The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN) noted that it can only meet about 30% of consumers' demand.These exits also impacted the prices of essential drugs, triggered job losses, with other public health consequences like increased counterfeit medicines in drug stores.To address these gaps, i...
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