Market intelligence, trend analysis and forecasts for the Pharma and Healthcare industries across the regions

Industry / Nigeria

Claims Of Rapidly Inflating Drug Prices Are Overblown

January 2012 | Industry Trend Analysis

BMI View: We believe claims about a 50% increase in basic pharmaceutical prices in Nigeria are overblown and sensationalised to further politicise the explosive issue of fuel price subsidies. Undoubtedly the end of fuel price subsidies in January 2012 and the subsequent inflation will push up drug prices, but we do not foresee the rise in prices being as extreme as suggested. That said, we do concede that any price increases in the extremely price-sensitive market will result in an increase in the number of people turning to cheaper, low-quality (possibly counterfeit) drugs instead of higher-priced

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