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Pharmaceutical company, May & Baker Nigeria, has signed a partnership agreement with French pharmaceutical giant, Sanofi to produce four brands of the latter.

The four Sanofi products, which would be manufactured by May & Baker Nigeria, will be sold in Nigeria and West African markets, a statement obtained by Nairametrics disclosed.

The tablets include Flagyl tablets and Suspension and Tarivid tablets, anti-infective medicines and Malareich tablets, an anti-malaria drug.

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Why this matters: The National Agency for Foods and Drugs Administrations and Control (NAFDAC) had been calling for the production of imported drugs in Nigeria. This partnership between the duo is a step in that direction.

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This positions Nigeria as an exporter of the drugs that have interested markets in West Africa. Apart from expanding the portfolio and services of May & Baker, Nigeria’s economy will also benefit in the trade partnership as it opens a new pharmaceutical market for both Nigeria and the company.

May & Baker signs deal to produce, sell Sanofi’s products in Nigeria, West Africa 

May & Baker is taking on the challenge of localising foreign brand products through its facility which it said can “produce six billion tablets and 37.5 million 60ml liquid medicines annually.”

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The partnership is coming two months after May & Baker’s Director and Chairman of Board of Directors, Theophilus Danjuma, stepped down from his position in the company. Danjuma’s retirement was made known during May & Baker’s Board meeting. He was replaced by Senator Daisy Danjuma, who was first appointed to the May & Baker Board of Directors in 1999.

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What you need to know: May & Baker reported a decline in its top-line of 9.57% to N5.92 billion as against the N6.54 billion in nine months of 2018. The pharmaceutical unit recorded revenue of N5.86 billion in nine months of 2019, 6.95% lower than the corresponding period of 2018.

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