– As firm unveils Versus to address anomaly
Notable pharmacists in Nigeria have raised concerns over the severe shortage of reliable data in the nation’s pharmaceutical industry. Speaking at the recent launch of Versus, a data platform by PBR Life Science in Lagos, they stressed the critical need for accurate data to drive the industry forward and improve decision-making.
Chairman of the Association of Industrial Pharmacists of Nigeria (NAIP), Pharm. Ken Onuegbu, lamented the lack of robust data, emphasising that the pharmaceutical sector is lagging behind in this area. He warned that without reliable data, the industry would struggle to reach its full potential. Onuegbu commended PBR Life Science for its innovation in developing Versus, a platform designed to address this gap.
“We may get everything else right, but without data, we have not even begun. To succeed, we need real-time data. Whether you are starting a pharma business, investing, or manufacturing, data is the foundation,” Onuegbu said. He added that data helps pharmaceutical company CEOs plan, focus, and identify areas for improvement, including staff training. “This is why I commend PBR for their efforts with this new platform.”
Pharm. Ade Popoola, managing director of Real Pharmaceuticals Limited, also expressed concern over the absence of reliable data in the Nigerian pharmaceutical industry. He explained that the limited available data significantly undervalues the sector. “If there is anything Nigeria is lacking, it’s data. Nobody has reliable data on the Nigerian pharma industry. If you want to succeed with your product, let data guide you,” said Popoola.
He further explained that a lack of data has contributed to the issue of expired products in the market, as companies are unaware of demand trends. As a result, they pay hefty fees to the National Agency for Food and Drug Administration and Control (NAFDAC) to dispose of expired products. Popoola noted that with better data, companies would be able to identify the right therapy areas to focus on and avoid these losses. He praised the unveiling of “Versus,” which he believes will help fill this critical gap.
During a panel session at the event, Mr Uti Oghene, franchise business manager at Assene-Laborex Limited, emphasised that data is essential for any business to thrive. “Data is life,” he declared, stressing that without it, businesses are bound to fail.
Similarly, Mr Ayobami Aremu, convener of Greenlands Integrated Agribusinesses Group, pointed out that data is the first asset every business owner should acquire before launching any venture. He warned that without reliable data, businesses in Nigeria would continue to face failure.
In his keynote address, titled How Data Can Support Survival and Pricing Challenges in the Current Economy: A Focus on the Pharma Industry, Mr David Makanjuola, managing director of ICIYANA Global Limited, highlighted that data serves as the foundation for decision-making in businesses worldwide. Makanjuola, a former head of financial institutions at First Bank Nigeria, urged key stakeholders in the pharmaceutical industry to embrace data in their operations to advance the sector.
Meanwhile, PBR Life Science’s Marketing Director, Pharm. Wole Julie Ajayi, introduced Versus as a solution designed to bridge the significant data gap within the pharmaceutical and life science industries. “Versus helps pharmaceutical companies unlock success and thrive at the retail pharmacy level. It’s a valuable tool for companies looking to launch new products, assess market share, or evaluate which therapy areas are performing well,” she explained.
Ajayi, who has worked with several pharmaceutical companies across Nigeria and Africa, stated that the lack of data made it difficult to plan effective marketing strategies. She said she joined PBR Life Science because of its commitment to providing data-driven solutions for the industry.
Mr Adeoye Sobande, chief product and innovation officer at PBR Life Science, explained that Versus collects data from retail pharmacies across Nigeria and processes it using advanced technology to provide actionable insights.
“The platform offers detailed information about what is happening at the retail level, enabling companies to make informed decisions. If you want to know how your products are performing or gain insight into your competitors, Versus is the platform for you,” said Sobande.
Sobande added that the platform provides local data and insights that allow pharmaceutical companies to understand their brand performance in retail pharmacies. The data is collected quarterly from retail pharmacies in 25 states across Nigeria, with a target of 1,000 pharmacies. Sobande noted that the platform is affordable and offers tremendous value to businesses by helping them reduce losses and make data-driven decisions.
