Following the progressive appreciation of the Ghanaian cedi, the Pharmaceutical Society of Ghana (PSGH) has urged its members to lower drug costs.

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The organization stated in a press release on Tuesday, December 20, 2022, that "the Pharmaceutical Society of Ghana (PSGH) has observed the gradual appreciation of the Ghana Cedi against the major trading currencies."

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"The PSGH has also taken note of high prices of medicines, despite the appreciation of the Cedi, although the original reason for the high prices was mainly due to the recent depreciation of the Cedi."

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Below is the statement

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APPEAL TO PHARMACEUTICAL BUSINESSES TO URGENTLY REDUCE PRICES OF MEDICINES

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The Pharmaceutical Society of Ghana (PSGH) has observed the gradual appreciation of the Ghana Cedi against the major trading currencies. The PSGH has also taken note of high prices of medicines, despite the appreciation of the Cedi, although the original reason for the high prices was mainly due to the recent depreciation of the Cedi.

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The PSGH wishes to highlight that pharmaceutical business also provides an important social life-saving benefit. Access to medicines and other medical products must therefore be of utmost priority at every point in time for all relevant stakeholders.

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In view of the above:

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1. The PSGH would like to call on all actors of the pharmaceutical supply chain, including manufacturers, importers, wholesalers, suppliers, and retailers to take urgent steps to reduce the prices of medicine to reflect the Cedi’s improved performance against the major trading currencies of the world.

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2. The PSGH further calls on the National Health Insurance Authority (NHIA), the Ministry of Health (MOH), and the Ministry of Finance (MOF) to urgently work together to ensure payment of arrears owed providers under the National Health Insurance Scheme (NHIS) so that providers in turn can pay their suppliers of pharmaceutical products. We believe this will also contribute further to the reduction in prices of medicines.

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It is hoped that the above actions will go a long way to reduce the burden of medical care on Ghanaians.

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Thank you.

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Pharm. Samuel Kow Donkoh,

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PRESIDENT PSGH

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0244-858245, 055-075-1292, 020-8162909

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