Rising drug costs: Greenlife unveils new strategy, eyes local production

By Chioma Obinna

Amid rising costs of pharmaceutical raw materials and growing pressure on the drug industry, Greenlife Pharmaceuticals Limited has unveiled a new strategy to strengthen partnerships across the pharmaceutical value chain and advance plans for local manufacturing.
The company’s new initiative, Pharmacy Access and Commercial Trade, PACT 2026, was launched at its inaugural forum in Lagos, bringing together major wholesalers and trade partners to discuss sustainable growth, business institutionalisation and stronger commercial relationships.
Speaking at the event, Executive Director of Greenlife Pharmaceuticals, Pharm. Peter Chukwudalu Nwosu, said the company was preparing for its next phase of growth by moving its relationship with partners beyond routine commercial transactions.
Nwosu said Greenlife would focus more on understanding the challenges of its customers and responding faster to their needs.
“Our next phase is about listening better to our customers, responding faster, making business easier and understanding the challenges of our partners,” he said.
He said stronger partnerships had become increasingly important in an operating environment characterised by rising costs.
Nwosu also disclosed that Greenlife was working towards local manufacturing, noting that the rising cost of active pharmaceutical ingredients and excipients had continued to put pressure on pharmaceutical businesses.
He said government measures to reduce the cost burden on manufacturers would support efforts to move towards local production.
The General Manager, Sales and Marketing, Pharm. Derick Osondu, said PACT 2026 was designed to create a closer and more responsive relationship between Greenlife and its trade partners.
According to him, the company’s growth had been shaped not only by its internal efforts but also by the trust and commitment of businesses that had worked with it over the years.
He urged partners to provide honest feedback through Greenlife’s feedback channels, saying this would enable the company to improve its services and respond better to market realities.
Osondu said the forum was also an opportunity to appreciate the company’s partners while creating a platform for deeper engagement and shared growth.
Speaking on “Sustainable Pharma Access and Commercial Trade through Institutionalization,” the company’s Corporate Performance and Strategy representative, Mr Jones Ekwealor, challenged trade partners to build businesses that could survive beyond their founders.
He identified governance, finance, systems and processes, people, and strategy as five critical pillars for institutionalising businesses.
Ekwealor stressed the need for proper financial records, effective inventory and credit controls, competent management, succession planning and reliable business data.
He also warned businesses to prepare for the evolving tax environment, saying poor reconciliation of sales, inventory, customer records, bank transactions and tax obligations could expose them to avoidable risks.
The Business Development Manager, Pharm. Henry Okolo, said PACT was built around the principle of exponential growth and long-term partnership.
He explained that the initiative would move beyond conventional discounts by creating structured commercial opportunities that could deliver additional value to partners.
“PACT is a commitment framework intended to encourage sustained business growth rather than a one-off commercial incentive,” Okolo said.
He urged partners to embrace opportunities that would strengthen their businesses while deepening their relationship with Greenlife.
Also speaking, former National Chairman of the National Association of Industrial Pharmacists, NAIP, and Chief Operating Officer of Alpha Pharmacy and Stores Ltd., Pharm. Ignatius Anuku, commended Greenlife for the initiative, describing it as evidence of long-term strategic thinking.
Anuku called for greater investment in local pharmaceutical manufacturing, saying Nigeria could not depend indefinitely on imported medicines to meet the healthcare needs of its growing population.
He urged pharmaceutical companies and trade partners to build relationships based on trust, communication and mutual benefit.
The event climaxed with the presentation of awards to outstanding Greenlife partners for their contributions during the 2025–2026 financial year.
SS & Duke Pharmaceutical Limited was the first recipient, while Medplus Pharmacy received the Lonart Legacy Award.
Grace Johnson Pharmaceutical Limited received the P-Alaxin Legacy Award, DrugStoc EHub Limited won the Portfolio Excellence Award, while New Heights Wholesales Limited received the Funbact A Legacy Award.
According to Pharm. Sebastian Osakwe, the awards would form part of Greenlife’s continuing effort to recognise and celebrate partners contributing to the company’s growth, with more partners expected to be honoured at subsequent editions.