Cost Of Living Woes Fuelling Fake Medicine Demand In Nigeria [Barron's]
Sanofi - American Depositary Shares (SNY)
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Source: Barrons
The scale of the problem was highlighted in March when authorities set ablaze $645 million worth of counterfeit medicines seized in six weeks of raids in Lagos and two southern states. "What we have found could ruin a nation," said the head of the National Agency for Food and Drugs Administration and Control (NAFDAC), Mojisola Adeyeye. "What we have found could destabilise a government." Efforts in Nigeria to curb sales of fake and substandard medicines has been going on for decades. Porous borders and weak regulations have created a situation in which medicines of unknown quality and provenance are sold in open-air street markets and in thousands of unlicenced pharmacies. For Nigeria and other countries with rampant
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