Last week, the announcement of GlaxoSmithKline (GSK) exiting Nigeria caused significant shockwaves throughout the nation. GSK, a major pharmaceutical company in the country, is renowned for producing well-known prescription medications, vaccines, and consumer healthcare products. These include brands like Panadol, Macleans, Andrew Liver Salt, and Amoxil.

The scarcity of these essential drugs, along with others manufactured by GSK, is becoming a concern. The prices of pharmaceutical drugs have been soaring due to the sharp decline in the value of the national currency, exacerbating the situation.

Currently, certain drugs have become unaffordable for the average citizen. A recent survey, backed by medical professionals and hospital pharmacists, demonstrated that drug and medical service prices have surged by at least 80% to 150% over the past two months.

For example, the antibiotic tablet Ciprotab (Fidson) used to have an average cost of N2,300. However, it now ranges from N3,000 to as high as N3,500 in retail stores. The Ventolin inhaler from GSK Pharmaceuticals, which previously cost around N4,500 per canister, is now priced between N6,500 and N12,000. Augmentin, which used to be priced at N5,000, has increased to N17,000.

Several patients have revealed that due to the skyrocketing costs, they are turning to traditional medicine as they can no longer afford conventional treatments.

A spokesperson from the National Agency for Food, Drugs Administration and Control (NAFDAC), Sayo Akintayo, emphasized that NAFDAC's role does not involve setting drug prices. Instead, their focus is on ensuring the quality, safety, and effectiveness of drugs for consumption.

Dr. Emeka Orji, the National President of the National Association of Resident Doctors (NARD), attributed the situation to the government's economic policies, particularly the removal of fuel subsidies and the fluctuating Naira exchange rate. He recommended the implementation of a comprehensive healthcare insurance scheme to improve healthcare accessibility.

The economic challenges have particularly affected those with chronic conditions such as cancer. Many citizens can no longer afford routine medications and have been forced to discontinue their treatments.

Stakeholders in the pharmaceutical industry are concerned that the inability to access foreign exchange and the rising cost of diesel could lead to the closure of several drug companies. The fall of the Naira has further contributed to these issues.

Medical professionals, including a Consultant Psychiatrist at the Alex Ekwueme Federal University Teaching Hospital, Dr. Okwudili Obayi, expressed that the economic hardships have led to reduced access to care for many patients. The affordability of drugs and medical services has declined significantly, impacting patients' ability to seek necessary treatments.

In summary, the news of GlaxoSmithKline exiting Nigeria has had far-reaching effects, causing scarcity and increased prices of essential drugs. The economic challenges, including the depreciation of the Naira, have worsened the situation, making healthcare services and medications less accessible to many citizens.