Ghana imports 80% of its pharmaceutical needs – PIEWAG

The Pharmaceutical Importers, Exporters, and Wholesalers Association of Ghana (PIEWAG) has frowned on the reversal of the discount on selected pharmaceutical products.

According to the Association, Ghana is not self-sufficient in producing pharmaceutical products.

The Association further revealed that Ghana imports 80 per cent of its pharmaceutical needs.

Mr Joe Fifi Yamoah, the Executive Secretary of Pharmaceutical Importers, Exporters and Wholesalers Association of Ghana, made this disclosure on the ‘Ghana Yensom’ morning show hosted by Kwame Obeng Sarkodie on Accra 100.5 FM on Monday, January 10, 2022.

Speaking on the earlier decision by the Customs Division of the Ghana Revenue Authority (GRA) to reverse the 50 per cent benchmark value on selected items and 30 per cent on cars, the Executive Secretary said Ghana could not produce even 30 per cent of its pharmaceutical needs.

“Ghana is not ready to fully produce all its pharmaceutical needs ad so the reversal of the benchmark values will be devastating for the pharmaceutical industry,” he said.

He noted that the importation of pharmaceutical products augments the country’s drug needs because Ghana is not self-sufficient in drug production.

“The local pharmaceutical companies cannot meet the demands of Ghanaians in terms of drugs need,” he added.

He warned that should the government reverse the 50 per cent benchmark value, the price of a common drug such as Paracetamol will be increased by at least 30 per cent.

He said it would take 30-35 years for Ghana to bridge the gap in pharmaceutical production as all 22 local pharmaceutical companies cannot meet the demand of Ghanaians.