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Business News

GSK commits to Nigeria with local manufacturing partnership with Fidson Healthcare PLC.

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GSK commits to Nigeria with local manufacturing partnership with Fidson Healthcare PLC

Following the earlier announcement on the restructuring of its supply chain operating model, the board of GSK Consumer Nigeria Plc has approved the selection of Fidson Healthcare PLC as its contract manufacturing partner in Nigeria.  With this decision Fidson Healthcare PLC will contract manufacture five (5) formulations (“Products”) for GSK Consumer Nigeria Plc.  This decision was reached after a detailed and rigorous request for quotation (RFQ) process that involved a number of local manufacturers in Nigeria.

With this selection, and subject to the meeting of appropriate regulatory requirements, GSK would be transitioning the manufacturing of five (5) of its products to Fidson Healthcare Plc from Q3 2021. This decision establishes GSK as one of the leading healthcare multinational companies localising productions of its brands via local contract manufacturing.

Speaking on the choice of local contract manufacturing, Managing Director of GSK Consumer Nigeria Plc, Mr. Bhushan Akshikar said “Working with a local contract manufacturer for the supply of our products, where practical, will build local expertise, transfer technical knowledge and improve local production capacities in the country. We believe this decision will allow us to build a more sustainable commercial business, enabling us to continue our efforts in supporting access to our consumer health products, medicines and vaccines across Nigeria and West Africa”

GSK commits to Nigeria with local manufacturing partnership with Fidson Healthcare PLC

Fidson’s MD/CEO, Dr. Fidelis Ayebae said “we are very excited about this collaboration with GSK Consumer Nigeria Plc.  Future growth and success in the healthcare industry will be fostered on the right partnerships, and we could not have asked for better partners at this stage of our growth. This partnership justifies the investment made in our ultra-modern, cGMP-compliant factory and will certainly promote the transfer of technical knowhow and technology while improving access to quality medicines for peoples of the West African sub-region and beyond”

The contract manufacturing strategy adopted by GSK is in line with the industrialisation plan of the Nigerian government – the Nigerian Industrial Revolution Plan (NIRP), which is a bold plan to ensure Nigeria becomes the preferred pharmaceutical manufacturing hub in West Africa. It is also targeted at making the country one of the top two manufacturing hubs in West Africa and the preferred source for supplying low and medium-technology consumer and industrial goods domestically and regionally.

It is important to note that all changes communicated do not impact GSK’s broader commitments to Global Health in Nigeria and across Africa. GSK Nigeria will continue to be listed on the Nigerian Stock Exchange (NSE).

About GlaxoSmithKline Consumer Nigeria PLC

An affiliate of GlaxoSmithKline plc, GlaxoSmithKline Consumer Nigeria PLC (GSK Nigeria) is committed to improving the quality of human life by enabling people to do more, feel better and live longer.

For further information, see  www.gsk.com/ng

About Fidson Healthcare Plc.

Fidson Healthcare Nigeria Plc is a leading pharmaceutical manufacturing company in Nigeria. Founded in 1995 the company was listed on the floor of the Nigerian Stock Exchange, NSE to become a publicly quoted company in 2008.

For further information, see www.fidson.com


Enquiries (GSK Nigeria only):

Uchenna Uwechia            Tel: +234 1 2711 000

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Omongiade Ehighebolo    Tel: +234 1 2711 000

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Email: [email protected]

 

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Corporate Press Releases

Peter Obaseki retires as Chief Operating Officer of FCMB Group Plc

Mr Peter Obaseki, the Chief Operating Officer of FCMB Group has retired from the financial institution.

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The Board of Directors of FCMB Group Plc has announced the retirement of Mr. Peter Obaseki, the Chief Operating Officer of the financial institution, with effect from March 1, 2021. He was also an Executive Director of the Group.

His retirement was approved at a meeting of the Board of the Group on February 26, 2021. This has also been announced in a statement to the Nigerian Stock Exchange (NSE) by the financial institution.

The Chairman of FCMB Group Plc’s Board of Directors, Mr Oladipupo Jadesimi, thanked Mr. Obaseki for his valuable service and excellent support to the Board for many years.

FCMB Group Plc is a holding company divided along three business Groups; Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); as well as Asset & Wealth Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited).

The Group and its subsidiaries are leaders in their respective segments with strong fundamentals.

For more information about FCMB Group Plc, please visit www.fcmbgroup.com.

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Tech News

Deezer accepts payment in Naira amid stiff competitions with Spotify, Youtube music, Apple music.

Deezer has gained quite a reputation in Nigeria, as it slashes its subscription fee and now accepts payment in Naira.

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Deezer slashes subscription fee and now accepts payment in Naira amid stiff competitions with Spotify, Youtube music, Apple music.

Deezer, the French music streaming platform that has gained quite a reputation in Nigeria has slashed its subscription fee and now accepts payment in Naira.

This is coming a few weeks after Spotify launched in Nigeria and 38 other new markets in Africa.

The competition in the Nigerian music streaming space is getting hotter by the day. More music streaming platforms are entering the Nigerian market with better payment methods and cheaper pricing, thereby forcing existing players to slash their prices so as to hold on to their customer base

Launched in 2007, Deezer currently connects over 16 million monthly active users around the world to 73 million tracks.

Before now, Deezer’s subscription was rated at $4.99 (₦1,800) for premium customers and the family plan for ₦2,700.

This number has been slashed in half. The music platform now charges ₦900 ($2.36) for Deezer Premium, ₦1,400 for Deezer HiFi and ₦1,400 ($3.67) for Deezer Family Plan.

Other streaming players in Nigeria like Apple Music, Spotify, Youtube music, Boom Play, Audiomack and Soundcloud have also slashed their prices.

For YouTube Music, the monthly individual subscription costs ₦900 while a family plan costs ₦1400 ($3.67).

Spotify Premium cost ₦900 per month in Nigeria. The Premium Family plan goes for ₦1,400 for up to 6 family members.

Apple music charges ₦450 per month for students, ₦900 per month for Individual plan while the Family plan goes for ₦1,400 for up to 6 family members.

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