*Ultra Logistics Company Limited to be launched today
NIGERIA, the largest and most populous economy in Africa; has the potential to be a world power in pharmaceutical manufacturing and distribution due to a potentially huge domestic demand. Unfortunately, this potential has been largely sub-optimized due to a variety of factors.
The Nigerian Pharmaceutical market is characterized by the irregular, unorganized and chaotic drug distribution system, which is a major factor in the not too impressive growth and development of the sector.
The drug distribution system, as it is now, also provides a safe haven for the circulation of fake and counterfeit medicines. To correct the observed lapses and put the Pharmaceutical industry on a higher pedestal, the Federal Government has approved a New Drug Distribution Guidelines (NDDG) whose implementation will begin by July 1, 2015.
With the new guidelines, there will be an ordered system of drug distribution, which will ensure that the available drugs are safe and effective.
A major aspect of the new system is the private sector driven Mega Drug Distribution Centre, which we serve as a hub for drug distribution as from July 1, 2015.