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Health News of Wednesday, 23 June 2021

Source: www.ghanaweb.com

Fake medicines on the market are more profitable than narcotics - Dr Maxwell Antwi

Dr Maxwell Antwi Dr Maxwell Antwi

Dr Maxwell Antwi, Country Director, PharmAccess Ghana, has disclosed that the fake medicines market is worth over €400 billion, something which is more profitable than narcotics.

According to him, Ghana’s medicine market faces multiple complex challenges because there are issues of inventory management, forecasting, the value change is fragmented, payment to medicine suppliers are rarely on time and lack of quality service control.

Speaking at the launch of access to financing for CHAG facilities on the Med4all platform in Accra, Dr Antwi made it known that, these challenges lead to frequent stock-out, poor quality and high prices of medicines in the market.

“Fake or substandard drugs lead to treatment failures, negative side effects, antimicrobial resistances and spread of diseases and unnecessary deaths,” he said.

Dr Maxwell Antwi noted that fake medicine data is something that happens across the globe.

“Did we know that the fake medicines market is worth over €400 billion, which is more profitable than narcotics?” he quizzed.

Dr Antwi said, the fake and substandard medicines within the African continent results in the deaths of over 100,000 patients.

Through this data, Dr Antwi said, CHAG and PharmAccess have been able to put in place some mechanisms to deal with fake and substandard medicines in the country through Med4all platforms.

He explained the facilities on the Med4all platform were not of equal sizes so based on the consumption forecast for medicine, all of them could access quarterly consumption of medicines and the value of it at no interest.

“We have also mentioned the issue of equity because we want to drive it in such a way that people do not over order... To ensure that everybody has a piece of the cake we would stick with the quarterly consumption that the providers or health facilities need and this would be revolved every quarter.”

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