Pharmaceutical companies operating in Ghana have announced a price reduction of 5% to 15% across the board, attributing the decision to the recent sustained appreciation of the Ghanaian cedi against the US dollar.
In a joint statement released on Wednesday, the Ghana National Chamber of Pharmacy (GNCoP) and the Pharmaceutical Importers & Wholesalers Association (PIWA) praised the Government of Ghana, the Ministry of Finance, and the Bank of Ghana for implementing policy measures that have strengthened the cedi.
“The current exchange rate trends are a strong indicator of improving macroeconomic stability,” the statement noted, citing reduced import costs and improved business planning as some of the tangible benefits for the sector.
Pharm. Audrey Serwaa Bonsu, CEO of GNCoP, described the price cut as “a demonstration of our sector’s commitment to national development and public health,” stressing that the pharmaceutical industry stands ready to support the government’s inflation reduction agenda.
While the industry acknowledges ongoing challenges, such as older stock procured at higher exchange rates, it insists the price drop reflects its intention to improve access to essential medicines and ease the financial burden on the public.
The pharmaceutical bodies also urged the government to sustain its prudent economic policies and extend greater support to healthcare-sector stakeholders.
