Chancellor of the University of Cape Coast (UCC) and the Executive Chairman of Jonah Capital, Sir Samuel Esson Jonah, have outlined five strategies to help the pharmaceutical industry in Ghana overcome its current challenges and become a driver of economic growth in the country.

Sir Jonah expressed concern about the industry's logistical and financial issues, which hinder its ability to reach its full economic potential.

During his speech at the 2023 Annual Conference of the Pharmaceutical Society of Ghana (PSG) in Takoradi, he emphasized the need for growth, pointing out that Africa's share of the global pharmaceutical market revenue is less than $60 billion, out of a total of $1 trillion and $482 billion in 2022.

“With a population of over 1.4 billion currently representing about 17.89% of the global total, Africa accounts for only about 3% of the global pharmaceutical market. Therein lies the opportunity for growth. So what is holding you back?” he said.

To address the industry's challenges, Jonah recommended a collaborative approach involving the general public, local investors, and the government. This collaboration should focus on promoting investments in the pharmaceutical sector through joint ventures.

“The entrepreneurial and risk-aggressive among you must move decisively to form partnerships with established foreign companies with the purpose of acquiring much-needed technology and liquidity through foreign direct investment,” he said.

Sir Jonah emphasized the need for pharmaceutical manufacturing companies to modernize their production facilities and attain WHO certification.

“Aggressively pursue capacity-building to enable more members of the PSG to obtain WHO certification. This is the surest way to firstly retool and re-establish to meet local demand, and then work to export to the sub-region and beyond,” he said.

Sam Jonah further called for a curriculum overhaul.

“Improve and expand the curriculum at the seven existing schools of pharmacy in Ghana, and use technical experts from industry as resource persons to provide the needed skills and competencies locally.”

On a regional level, he stressed the importance of pharmaceutical associations collaborating with their counterparts in Africa and engaging with ministries to promote trade liberalization and ratify agreements that facilitate and strengthen free trade throughout the continent.

“Your leadership and your African counterparts and respective sector Ministries must work purposefully with the African Continental Free Trade Area (AfCFTA) for liberalization of trade rules and signing and ratification of regional agreements that enhance free trade in Africa. This will inure to the growth of your sector,” he said.

Finally, he emphasized the need for collective advocacy, rigorous enforcement, and increased involvement in public affairs to raise awareness about the proliferation of substandard drugs in the market.

“Our sub-region currently carries the highest prevalence of dumping of fake and substandard medicine. For every hundred medicines, 18.7 of our people are fake or sub-standard. PricewaterhouseCoopers found that approximately one million people die annually, with nearly half a million being preventable malaria deaths caused by toxic counterfeit pharmaceuticals. Who imports and sells these medicines? Are they pharmacists too?

“The World Customs Organisation reported that nearly $200 billion worth of fake and potentially harmful pharmaceuticals are sold yearly around the world. Hundreds of thousands of children die from the administration of counterfeits or medicines below accepted standards. Are we sacrificing human life for money?

“Are we covering up for murderers? Where is the outrage? Do we truly care about the health of our people? Where are the concerned and courageous Pharmacists among you who will speak up? In dire situations like this and many others in our homeland Ghana, I entreat you as individuals, and as a society to remember: Silence is not an option,” he said.