The Regulatory Agencies and the Pharmaceutical Business in Nigeria

Abstract

The pharmaceutical business can be described as a special purpose business. A business which, though seems open and simple, should not actually be conducted without strict observation of some special ethics. This is so in developed countries. In some developing countries, like Nigeria, it is an all corners business where professional ethics are substituted for quick money. The resultant effect being the wastage of human life, as dangerous drugs are displayed anywhere and are accessible to whoever cares to ask. The Nations economy is constantly bastardized, due to inflow of all forms of drugs from different parts of the world. The importance of regulation at this stage cannot be overemphasized. However, the legislators are uninformed. The Regulatory Authorities are not well trained and sometimes mortgage their conscience to quick money at the expense of the life of the people and the economy of the nation. The essence of this work is therefore to look into some of these problems, identify who is involved in the regulation, examine the causes and proffer recommendations for solutions. The Pharmaceutical Business in any nation cannot contribute its quota to the health and economy of the nation without adequate regulation.