The Coronavirus (Covid-19) Pandemic: Key Considerations in the Health & Pharmaceuticals Sector

In the face of the rising spread of the COVID-19 pandemic, there are wide-ranging implications for the Health & Pharmaceutical Sector. Healthcare systems across the globe are under significant pressure at this time, and many are already overstretched.

At the local country level, the situation remains fluid and several states have deployed resources towards strengthening the existing healthcare systems and supply of pharmaceutical products. In addition to deploying resources, the government has also adopted certain measures to prevent the spread of the Pandemic and alleviate the impact on the medical facilities, with the restriction of international flights, public gatherings beyond a certain number, shut down of schools, the introduction of curfews and recently the restriction of movement in some key states.

In this article, our dedicated team of legal experts has highlighted some key business and legal issues worthy of consideration for industry stakeholders during these uncertain times, which will enable them to make informed and well-considered decisions that will assist with business sustainability and continuity during and post this crisis.

  1. Central Bank of Nigeria (CBN) Policy Measures

The lockdown/restriction of movement of goods and people has led to a disruption in supply chains and distribution networks, as laboratories and production plants have been unable to manufacture and/or deliver drugs and other pharmaceutical products. This has led to a shortage of medicines, drugs and other medical-related products that would ordinarily be imported into the country for retail.

The CBN in a bid to alleviate this disruption has created funds/schemes to cater to the immediate needs within the healthcare and pharmaceutical industry to assist with business continuity for companies in this space.

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