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New business model offers hope to Nigeria’s Pharma Industry

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A pharmaceutical industry.

A pharmaceutical industry.

A new business model aimed at uplifting the Nigerian pharmaceutical industry from the doldrums of underdevelopment has been nominated for presentation at the forthcoming International Society for Pharmoeconomics and Outcome Research (ISPOR) at 7th Asia-Pacific Conference to be held in Singapore in September, 2016.

The work titled “In-licensing as a Business Strategy for Pharmaceutical Companies: A Framework for the Nigerian Industry” essentially details a comprehensive structural realignment of the Nigerian pharmaceutical industry.

It will be presented in a one-hour session on the 4th of September, 2016 at the Suntec Convention Center, Singapore. ISPOR is the leading global professional society in pharmaceutical economics and outcomes research and is based in New Jersey, United States.

The work, authored by Dr. Chuba Keshi, journalist and publisher of the Pharmascope Journal formulates a new model of strategic alliances across all the five stages of the pharmaceutical value chain in the Nigerian industry. It is hoped that if adopted, the model will launch the industry into a trajectory of development toward global competitiveness.

The Nigerian pharmaceutical industry is currently ranked 187th globally in spite of the fact that the Nigerian economy itself is the 26th in the world.

Keshi, D.Phil. PhD, who is also principal partner at Core Business Consulting Associates Limited, is a Professor of Management at the Monarch Business School, Switzerland.


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