Nigeria’s pharmaceutical industry loses N1bn on FG’s codeine ban – Businessday NG

The ban by the Federal Authorities on codeine-containing cough syrups has affected the countrys pharmaceutical industry, particularly firms that produce codeine or Benylin cough syrups say Could & Baker Plc. The pharmaceutical industry mentioned that the ban induced it to lose N700 million in annual revenue in addition to lack of uncooked supplies and completed merchandise price over N350 million. Federal Governments ban of manufacturing and distribution of codeine-based cough syrups, authorities remains to be holding onto completed product valued at N1 billion. The transfer had taken an enormous toll on the industrys backside strains and manufacturing manufacturing strains, mentioned Nnamdi Okafor, managing director/ chief government officer CEO, Could & Baker Plc on the companys finish of 12 months media parley in Lagos just lately.