By Abujah Racheal
Nigeria, like many developing countries, is grappling with the challenge of rising drug prices, which has become a major concern for its citizens.
As the cost of medication continues to soar, accessing essential drugs has become increasingly difficult for many Nigerians.
The cost of drugs in the country has been on an upward trajectory, making it unaffordable for a significant portion of the population to access necessary medications.
The cost of healthcare has been steadily increasing over the years, putting immense pressure on both patients and healthcare systems.
Factors such as expensive brand-name drugs, research and development costs, and complex regulatory processes contribute to the escalating prices.
As a result, healthcare budgets are stretched thin, making it crucial to identify cost-effective alternatives.
Stakeholders in the health sector, said that numerous factors contribute to the issue in the country, including currency devaluation, importation costs, and monopolistic practices by pharmaceutical companies.
Consequently, they said that the inability to afford life-saving drugs has resulted in higher mortality rates and a decline in overall public health in the country.
In an era of skyrocketing healthcare costs, finding cost-effective solutions is essential for healthcare providers and patients alike.
According to Wikipedia, a generic drug, or simply generic, contains the same chemical substance as a medication initially protected by patents. These drugs become available for sale after the expiration of the original patents.
Due to the identical active chemical substance, generics typically perform equivalently to their patented counterparts.
While sharing the same active pharmaceutical ingredient (API) as the original, generics may vary in aspects like manufacturing process, formulation, excipients, color, taste, and packaging.
However, Generic drugs emerged as a viable option, offering substantial savings without compromising on the quality and efficacy of treatment in countries like India and China.
Dr Simon Agwale, CEO of Innovative Biotech, a leading biotechnology company, said that for the initial two decades following the introduction of a prescription medication, exclusive manufacturing and marketing rights belong to the patent holder.
Agwale explained that only the brand-name version was available during this period.
“However, once the patent expires, other companies can produce and market generic versions at a lower price.
“Generic drugs must contain the same active ingredients and meet the same safety standards as their brand-name counterparts, but they are cheaper because the manufacturer did not incur the initial research and development costs,” he said.
He said that a generic drug, as long as it has been labelled as generic, no longer has patent issues, was already approved, and has been in the market of its originating country that has a strict regulatory agency.
He said that the cost savings associated with generic drugs were significant.
“Studies have shown that generic drugs can be up to 80-85 per cent cheaper than their brand-name equivalents.
“This allows healthcare providers to allocate their budgets more efficiently, ensuring that a larger number of patients can access necessary medications without financial burden,” he explained.
Meanwhile, President Bola Tinubu has approved three resolutions aimed at strengthening the health and social welfare sector to better deliver to Nigerians.
The decisions are targeted at relieving the escalating cost of pharmaceuticals, funding health sector regulatory bodies and mitigating the human resource flight in the sector.
The President’s action was guided by his Renewed Hope Agenda, which puts the human capital, health and social welfare of Nigerians at the center.
One of the decisions would be codified into an Executive Order for effective implementation, which aims to enable local drug manufacturers to thrive while ensuring fair pricing of essential medicines.
The Health Sector Reform Coalition (HSRC), has called for an approach to addressing Nigerian health system challenges.
They said that the current approach of issuing executive orders and meeting with pharmaceutical industries would not effectively solve the problems in the country’s health system in the long run.
They suggested that the root causes of these problems, such as the poor status of the Naira, insecurity, infrastructure gap, corruption, and high cost of doing business, needed to be addressed.
They highlighted the success of countries like Malaysia in developing strong healthcare systems and efficient medicine supply chains without relying on executive orders.
They called for a holistic and home-grown approach to solving the country’s health system challenges, emphasising the need for sincere and efficient implementation of existing laws and policies
Dr Simeon Onyemaechi, Chairman, Forum of CEOs of Forum of CEOs of State Social Health Insurance Agencies (SSHIA) in Nigeria, said that one common concern regarding generic drugs was their quality and efficacy compared to brand-name drugs.
However, Onyemaechi said that generic drugs undergo rigorous testing and regulatory processes to ensure their safety and effectiveness.
“Regulatory authorities, such as the National Agency for Food and Drug Administration and Control (NAFDAC), will closely monitor and regulate generic drug production to maintain high standards.
“Consequently, Nigerians can trust that generic drugs offer the same therapeutic benefits as their brand-name counterparts,”he said.
As the high cost of medication continues to burden Nigerians, the President of the PSN, Prof. Cyril Osifoh, on Channels TV advocated for the prescription and dispensing of generic drugs as a viable solution.
Osifoh said that by embracing generic alternatives, healthcare professionals can help reduce the financial burden on patients while maintaining the same level of therapeutic efficacy.
He disclosed that the PSN was actively engaging with the government to explore further measures to bring down medication costs and improve access to affordable healthcare in the country.
According to Pharm Juliet Bernard, a Director at Toosie Pharmacy, Abuja, despite their proven effectiveness and cost savings, generic drugs still face stigma and misconceptions among patients and healthcare professionals.
Bernard said that some individuals believe that generic drugs are of lower quality or less effective, leading to reluctance in their usage.
All things considered, educating patients and healthcare providers about the benefits and safety of generic drugs is essential in maximising healthcare budgets and improving access to affordable treatment, Bernard said.
She said by the country embracing generic drugs, healthcare systems could allocate resources more efficiently, ensuring that patients receive the care they need without facing financial hardship.
“If your doctor prescribes you a medication, it’s worth asking whether a generic alternative is available and whether your doctor has any preferences or guidance.
“You’ll almost certainly pay less at the pharmacy when you fill your prescription if it’s a generic drug.
“And if your health plan has step therapy rules, a generic drug will let you avoid the hassle of potential claim denials for higher-priced drugs,” she explained.(NAN)
