PwC misquoted on amount of fake drugs in Nigeria
PricewaterhouseCoopers (PwC) says its chief economist, Andrew S. Nevin, was misquoted by a popular online news platform (name withheld) in its report on the percentage of fake drugs in Nigeria.
In a statement made available to BusinessDay by PwC, it expressed sadness that the misinformation was also “syndicated across various other news platforms.”
According to the release, Nevin was quoted as saying that 70 percent of the drugs in circulation in Nigeria were fake.
“We wish to note that the said figure as reported by the online news platform is an erroneous presentation of facts. While presenting the keynote address at the recently concluded National Conference of the Pharmaceutical Society of Nigeria, Dr. Nevin stated that counterfeits account for 17 percent of the generic drugs in supply, noting that various sources have made varying claims at different times on this figures,” it said.
Expressing deep sadness over the report, PwC, said: “It is most unfortunate that 70percent was reported instead of 17percent, resulting in this mix up and embarrassment to both PwC and NAFDAC.
“We wish to state that at no time did Dr. Nevin claim that 70percent of drugs in Nigeria were fake as reported. Please see Page 27 of the transcript of the address titled ‘Drug Security in Nigeria – Technology for supply chain integrity’ which is available on our website.
“The Pharmaceutical Society of Nigeria (PSN) at whose event the address was presented has since also issued a press release on the matter. PwC will continue to explore ways of strengthening drug security in Nigeria, using technology which was the crux of Dr. Nevin’s keynote address at the conference.”
The company said it became necessary to make the clarifications “with more papers/platforms carrying the rebuttal by NAFDAC.”