Local pharmacists take lead in drug distribution

*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.

In response to this laudable policy initiative by the Federal Government, Ultra Logistics Company Limited (ULCO) will be formally launched on Thursday May 14, 2015 at MAN centre, Wemabod Estate, Ikeja.

Managing Director ULCO, Dr. Lolu Ojo, in a statement made available to The Guardian said: “The event will be attended by leaders and opinion molders in the Nigerian pharmaceutical industry.

Ultra Logistics Company Limited will operate as a Mega Drug Distribution Centre with presence in all the geo-political zones of the country.

It is being promoted by the Pharmaceutical Society of Nigeria (PSN) to protect the interest of practitioners and the general public and also to assist the Government in the delivery of the best Pharmaceutical services to Nigerians.

It is also being promoted to encourage indigenous entrepreneurship. The company, which will operate as a commercial organization with a social enterprise ethos, also aims to address the key challenges confronting Nigeria’s pharmaceutical market.

“The company has been registered with Corporate Affairs commission and has bank accounts with two of the major banks in Nigeria.

We are working with core financial, logistic and IT organizations to provide a world-class Pharmaceutical Distribution services in Nigeria.

The purpose of the launch, which will be chaired by an ICON of Pharmacy, Dr. Dere Awosika, a former Permanent Secretary, Federal Ministry of Power, is to encourage all potential investors to participate in the building of the organization to an enviable status. Our target audience includes Pharmacists, Pharmaceutical companies/institutions and other private investors. “This project has the full support of the President of PSN, Mr. Olumide Akintayo, and other leaders of the society.”

According to the PSN President, “we need to have ULCO in operation as the availability and affordability of good quality drugs, coupled with their rational use, is fundamental to effective health care delivery in any country.”

The affair of the company is run by a team of accomplished professionals who have distinguished themselves in their chosen career and is ably led by Dr. Lolu Ojo as the Managing Director.

It is important to note that the firm establishment of an ordered Drug Distribution system in Nigeria will positively impact the fortune of the Pharmaceutical Industry and put smiles on the faces of the investors in the Ultra Logistics Company project. .

ULCO will be driven by superior value proposition to her customers, with an optimal pricing strategy that will drive quality and availability. The change desired in the Pharmaceutical Industry is here.