We Will Provide Medicine On ‘Cash and Carry’ Basis Until Economy Stabilizes – Pharmacists

The Ghana National Chamber of Pharmacy (GNCoP) says all medicines will be provided solely on a ” cash and carry” basis until the country’s economic situation improves.

This was revealed at a press conference held by the group in Accra on Thursday, October 20, 2022.

According to the Chamber, Ghana’s pharmaceutical industry is on the verge of collapse due to the current economic woes.

William Adum Addo, the President of the Pharmaceutical Importers and Wholesalers Association who spoke on behalf of the group said “All transactions with immediate effect shall be on a cash basis until the economy stabilizes.”

He added that this situation has the potential to affect the lives and health of the citizenry.

“The effect of medicine prices will not only result in challenges with medicine availability and accessibility but most importantly the quality of life of Ghanaians because we all know health is wealth. They cannot afford the exorbitantly high cost of medicine … very soon a sizable number of industry players may be forced to fold up or lay off staff,” he stated.

This decision is expected to have dire consequences on medical supplies since the National Health Insurance Scheme operates on credit lines.

Mr Addo, therefore, suggested that the National Health Insurance Scheme(NHIS) and other health insurance companies seek funds to purchase medicines on a cash basis for distribution to patients under the schemes.

GNCoP also urged “end user institutions, that is retail pharmacies, private hospitals, and clinics to secure loans from banks to buy medicines with cash.”

The group also called on the appropriate stakeholders to act with urgency to curtail the impending collapse of the industry.

“The National Chamber of Pharmacy, the Pharmaceutical Manufacturers Association of Ghana, and the Pharmaceutical Importers and Wholesalers Association of Ghana, therefore call for immediate action to save the industry.

“The Minister of Finance and Economic Planning should release funds immediately to pay for long-standing debts that hang over nine months and to push to clear all overdue debts,” he added.