May & Baker urges more support as energy costs drive up drug prices
May & Baker Nigeria Plc has highlighted how rising energy costs are increasing the prices of medicines. The company’s Managing Director, Patrick Ajah, praised the Federal Government’s duty-free policy on pharmaceutical raw materials, which helped suspend planned price hikes. However, he noted that manufacturers still face challenges such as port clearance delays and poor infrastructure. Ajah also emphasized the need for affordable medications, especially for hypertension and diabetes.
TLDR
- Patrick Ajah said the duty-free policy on raw materials allowed May & Baker to suspend a planned drug price increase.
- Despite this, high energy costs and port clearance issues continue to push up medicine prices.
- Ajah revealed that monthly power expenses for the factory rose from about N65m to N170m.
- He called for better infrastructure and more government support to ease operational challenges for local pharmaceutical firms.
- Free medical outreach events were held to raise awareness about hypertension and diabetes, with support from the NYSC Medical CDS Group.
