African Economies Pay 30 Times More For Ordinary Drugs—Report – Market News Store

African Economies Pay 30 Times More For Ordinary Drugs—Report

Countries in Africa are having economies that are small or medium-sized. These countries are paying lot more money to procure less impactful drugs. This information was revealed to BBC Newsday by a leading expert of health studies. In countries like Tunisia, Zambia and Senegal, common drugs such as paracetamol are priced at nearly 30 times higher a price than charged in USA and UK.

According to Kalipso Chalkidou, who works at the Global Development Centre, drug markets of poorer countries absolutely do not work. She has attributed the broken contribution to the supply chain being concentrated.

Ms. Chalkidou is the organization’s director of the policy of global health. She is the co-author of a report elaborating on drug procurement. This report has drawn the conclusion of small to middle economies indulging in buying smaller variety of medicines, which leads to weak standards of quality, competition and regulation.

The report further points out, richer countries, owing to strong systems of buying drugs as well as large quantities of public money, are easily able to gather cheaper medicines. In contrast, poorer countries are prone to buying the most costly medicines, instead of less expensive unbranded pharmaceuticals that constitute nearly 85% of UK and US markets.

The poorest of countries are unaffected if foreign donors to purchasing medicines instead of them. In that cost of medicines remains low, in case of over-the-counter medicines. Chalkidou stressed that the problem lies with the middle zone.

Low or middle-income nations do not have the required ability of negotiation to lower prices while assuring quality products. This leads to a high number of mark-ups, mostly owing to corruption and taxes. Further, low strictness of regulation leads to low quality of drugs.

According to Chalkidou, absence of regulation leads people to bribe for products. So they pay more for products they believe, it will work. However, they don’t work either.

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