Access to foreign exchange is one of the biggest issues in the pharmaceutical manufacturing industry. This is because the industry in Nigeria imports more than 90% of its inputs. Other concerns include infrastructure and the rise in diesel prices, which, unfortunately, factories have to rely on due to the limited electricity supply from DisCos, which is insufficient to run a business continuously, and manufacturers require consistent power.
These difficulties are causing the average Nigerian customer to pay more for even locally manufactured drugs. Regardless, some pharmaceutical manufacturing businesses have managed to stay afloat and are steadily increasing their profits. Fidson Healthcare plc is one of these pharmaceutical companies.
About Fidson Healthcare Plc
Fidson Healthcare Plc is a pharmaceutical manufacturing firm in Nigeria that began operations on March 1, 1995. Its primary activities are pharmaceutical product manufacturing and distribution. Over-the-counter, ethical, and consumer are its product segments. After only a year, the company began importing its brand of completed pharmaceuticals, releasing Ciprotab and Peflotab quinolones to the market.
Fidson established its first local manufacturing facility by July 2002 and later became the first business in sub-Saharan Africa to produce antiretroviral (ARV) medications. The company’s Nigerian assets include two factories, four warehouses, and four corporate offices.
Expanding further, the company became listed on the floor of the Stock Exchange and became a publicly traded company in 2008.
Products
Some of its popular products are Tuxil-D, Astypher, Ciprotab, and Tribotan. The company’s drug/medication portfolio generally falls under the following categories:
- Cardiovascular Medicines
- Anxiety & Sleep Disorder
- Anti Allergic
- Anti Infectives
- Central Nervous systems
- Coughs and Cold
- Vitamins
- Ophthalmic solutions
- Topical dermatologial
- Topical
- Neuropsychiatry
Leadership
Mr Segun Adebanji – Chairman
Mr. Adebanji attended Yaba College of Technology and obtained his Ordinary National Diploma (Accounting) in 1973. He was admitted as a Fellow of the Chartered Association of Certified Accountants (FCCA) and the Institute of Chartered Accountants of Nigeria (FCA) in December 1982 and November 1988, respectively.
His work spans PwC, UAC Group, Unilever Plc, Nigeria Breweries, Heineken in the Netherlands, subsidiaries across Africa, as well as African Capital Alliance. He is also a non-executive director of various companies.
Fidelity Ayebae- Founder/ CEO
Fidelis Ayebae received a Diploma in Civil Engineering from the Mainland Institute of Technology in 1976. At the University of Lagos, he earned an advanced diploma in business administration in 1999. He became a member of the Nigeria Institute of Management and an Associate of the Chartered Institute of Administration.
In 1995, he became the founder and first chief executive officer of Fidson Healthcare Limited after holding positions in several firms, including Citibank Limited. He serves as the chairman and director of numerous additional businesses.
Achievements
- Fidson grew its profit after tax by 196%, declaring a dividend of 50 kobo per share in August 2022
- The company emerged as the best-performing stock in Health care in May 2022
- Fidson won the Financial Standard Sector Leader Award and received the NIS ISO 9001:2008 Certification in 2011.
- Recorded 202% profit in 2020 FY pretax profit
- Has become one of the largest employers of pharmacists in Nigeria in the private sector, with over 150 medical reps
- The company runs a CGMP-compliant manufacturing facility and is a candidate for the WHO GMP certification.
Performance
The company has a market capitalization of about N19 billion, and its shares are currently trading at N8.31 per share. The company reported a revenue of N11,048,672,000 in its September 2022 report and made N1,090,999,000 as profit before tax.
Foreign exchange volatility may still exist in the future. Thus, the business and the sector as a whole need to be adequately prepared to remain in business.
In addition, one of the ways the company can perform better is to cooperate with stakeholders to facilitate capital flow. On the production and importation sides, increased cooperation with more established businesses in other regions can be facilitated with a focus on research and development of medicines that will be used to address the bulk of Nigerians’ health issues.
