The Pharmaceutical Society of Ghana (PSGH) is encouraging members to join the nationwide demonstration today. A statement from the Society signed by its President James Ohemeng Kyei said the very difficult and challenging economic conditions were impacting negatively on pharmaceutical service delivery in the country.

“Pharmaceutical care is seriously challenged by the rapid depreciation of the local currency against foreign currencies in the country and currently leading to shortage of essential medicines as importers and manufacturers cannot operate optimally,” it said.

The statement said rising prices of medicines since the beginning of the year was affecting access to medicines by the poor and the vulnerable. It said prices of medicines had gone up or increased by about fifty (50%) percent since the beginning of the year and was seriously affecting service delivery as patients were not able to purchase required medicines on prescriptions for their ailments.

“Pharmaceutical importers and wholesalers are presently going through difficulties as a result of the delay by National Health Insurance Authority (NHIA) in reimbursing service providers. Because of the delayed reimbursements by the NHIA, some service providers have also delayed payments of about six to eight months to pharmaceutical manufacturers and wholesalers,” it said.

The statement said due to the rapid depreciation of the cedi and current high interest rates by banks the capital base of most pharmaceutical companies was shrinking at an alarming rate leading to near collapse of most of the pharmaceutical companies.

It said retailers of pharmaceuticals were also finding it difficult to replace their stocks due to the price hikes on the market thereby making it difficult to meet the needs of their clients or patients.

“The fifty percent increase in prices of medicines since the beginning of the year means that in order to keep or maintain the same level of stocks an extra funding or recapitalization is required, a situation most pharmacies cannot address,” the statement said.

“Pharmaceutical Society of Ghana (PSGH) as a friend of the human race is equally concerned about the worsening living conditions of all Ghanaians and is therefore committed to this protest and support this peaceful demonstration by all workers,” it said.

“The PSGH is therefore encouraging all Hospital Practice Pharmacists, Community Practice Pharmacists, Industrial Practice Pharmacists, Academia Practice Pharmacists as well as Association of Representatives of Ethical Pharmaceutical Industries to join in this peaceful protest to register our displeasure with the current economic conditions facing Ghanaians,” the statement added.