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Pooled purchase of medicines to help lower prices

NEWS
By Standard Reporter | June 28th 2015

A new initiative aimed at pooling procurement of medicines and pharmaceuticals by a global network of not-for-profit organisations is expected to result in lower prices for end users.

Mission for Essential Drugs and Supplies (Meds) Managing Director Paschal Manyuru said the initiative will consolidate and co-ordinate purchases to benefit from economies of scale. His organisation will then be passing on the savings as discounts to county governments and other agencies purchasing products from Meds.

The pooled procurement is being undertaken by the Ecumenical Pharmaceutical Network (EPN), a worldwide network of associations, institutions and individuals committed to the provision of quality pharmaceutical services.

Mr Manyuru said Meds, which entered into a collaborative partnership with counties in 2013, has strong group bargaining power that will ensure the steady supply of quality medicines and pharmaceuticals at subsidised prices.

Members of the EPN network will share information on procurement policies, medicine lists and product specifications, as well as supplier audits.

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