Ghanaians can now expect to pay less for medicines, as pharmaceutical prices have been cut by 5 to 15 per cent nationwide.
The announcement was made in a joint statement by the Ghana National Chamber of Pharmacy (GNCoP) and the Pharmaceutical Importers and Wholesalers Association (PIWA) on June 4.
The two bodies credited the reduction to the recent appreciation of the cedi, which has eased the cost of importing medicines and medical supplies.
“A stronger cedi means lower foreign exchange costs for pharmaceutical importers, resulting in lower prices for essential medicines and health products,” the statement said.
They explained that while importers are still dealing with older stock bought at higher exchange rates, the current currency gains have allowed some relief to be passed on to consumers.
“While we acknowledge these recent gains, it is important to note that the sector has, over the period, absorbed a huge percentage of the cost due to the depreciation of the cedi.”
Despite ongoing financial strain, both GNCoP and PIWA said they are committed to supporting government’s economic recovery efforts.
“However, in support of government efforts to stabilise the economy and reduce inflation, and in the interest of the public health and consumer welfare, GNCoP in consultation with PIWA have resolved to reduce their prices by 5-15 per cent across the board. This decision is a demonstration of our sector’s commitment to national development and public health.”
They urged continued support for the pharmaceutical sector, describing it as vital to ensuring medicine security and long-term public health resilience.
“We remain hopeful that this stability will be sustained in the long term. The Chamber & PIWA also reiterate its commitment to working collaboratively with the government and all stakeholders to ensure the pharmaceutical sector remains vibrant, accessible, and sustainable for the benefit of all Ghanaians.”
