GSK Group, a British multinational pharmaceutical giant would be ending its operations in Nigeria after 51 years.
The company noted that it would appoint a local third-party distributor in Nigeria for the supply of its consumer healthcare products.
This exit is on the back of challenges the company experienced with accessing forex which was disrupting the availability of drugs in Nigeria.
Nigerians have taken to social media to express their concern towards the exit of the pharmaceutical giant. While some blamed the economy, some lamented how drugs and vaccines would likely become more expensive, while others talked about potential job loss.
Reactions on Social Media
Professor Ndubuisi Ekekwe is of the opinion that GSK is crucial to Nigeria and they shouldn’t exit the country.
- “It could look hopeless when you examine the root cause of the forex crisis, but leaving Nigeria is not an option: “GSK UK Group is winding down operations in Nigeria, the company has announced, after citing the impact of the country’s forex crisis on its business.” GSK is a very important company in Nigeria and we want it to stay.”
It could look hopeless when you examine the root cause of the forex crisis, but leaving Nigeria is not an option: "GSK UK Group is winding down operations in Nigeria, the company has announced, after citing the impact of the country’s forex crisis on its business." GSK is a very… pic.twitter.com/eyt7yQDmzZ
— Ndubuisi Ekekwe (@ndekekwe) August 3, 2023
Morris Monye expressed concern that the cost of drugs would become more expensive.
- “GSK leaving Nigeria because of forex issues get as e be. Cost of drugs like Augumetin etc about to shoot to the sky! God abeg. Let the common man breathe.”
GSK leaving Nigeria because of forex issues get as e be.
Cost of drugs like Augumetin etc about to shoot to the sky!
God abeg. Let the common man breathe. pic.twitter.com/qG5qn9Oc8I
— Mo-Mo (@Morris_Monye) August 3, 2023
Chidera lamented as to how the exit of GSK would lead to job loss especially for the middle class.
- “Do you know How many middle class Nigerians that have lost dia Job’s in GSK which invariably affects all the extended dependents, let alone the immediate? Mind u GSK is not a 150k salary organization…”
Do you know How many middle class Nigerians that have lost dia Job's in GSK which invariably affects all the extended dependents, let alone the immediate?
Mind u GSK is not a 150k salary organization…
— Chidera Okwute Peter Obi Datti Ahmed (@hotjammal) August 4, 2023
Riddwane believes that GSK’s exit had nothing to do with the economic challenges but that the company couldn’t withstand competition.
- “GSK leaving Nigeria has nothing to do with loss of investment capital, rather the pharmaceutical firm couldn’t withstand competition in the local market. GSK has less than 300 staff in its workforce after it sold its manufacturing plants years ago. But O’bingos don repost ignorantly”
GSK leaving Nigeria has nothing to do with loss of investment capital, rather the pharmaceutical firm could withstand competition in the local market. GSK has less than 300 staff in its workforce after it sold its manufacturing plants years ago. But O’bingos don repost ignorantly https://t.co/UwDtbIhCqg
— AJE (@Riddwane) August 4, 2023
Ebelechukwu is of the opinion that more multinationals could leave following GSK due to unfavorable policies for business to thrive.
- “GSK has left Nigeria. I assure you more will follow. It definitely means the policies been laid down is not conducive for even big business to thrive. Now just think of what small business owners are going through. When we tell you, Bola Tinubu only knows how to collect and not to creat, his CORNFused children will start attacking”
GSK has left Nigeria. I assure you more will follow
It definitely means the policies been laid down is not conducive for even big business to thrive
Now just think of what small business owners are going through
When we tell you, Bola Tinubu only knows how to collect and…
— Ebelechukwu (@talk2ebby) August 4, 2023
The_Bearded_Dr_Sina expressed concern that drugs would become more scarce and expensive due to GSK exit.
- “Some of these names will sound familiar. Augmentin- Antibiotic, Duodart- Prostate, Ventolin- Asthma many more drugs. Lot of vaccines. The company behind these medications, GSK is leaving Nigeria. The drugs will be expensive & scarce. Augmentin already went from 7k to 19k. So sad”
Some of these names will sound familiar
Augmentin- Antibiotic
Duodart- Prostate
Ventolin- Asthma
many more drugsLot of vaccines
The company behind these medications, GSK is leaving NigeriaThe drugs will be expensive & scarce.
Augmentin already went from 7k to 19kSo sad
— The_Bearded_Dr_Sina (@the_beardedsina) August 3, 2023
What You Should Know
GlaxoSmithKline Consumer Nigeria Plc was incorporated in Nigeria in 1971 and commenced business in 1972, under the name Beecham Limited.
The Company is behind the production and sale of household brands such as Sensodyne, Andrews, Augmentin, Beecham Ampiclox, Voltaren, Panadol, Otrivin and Horlicks.
i understand the impact this will leave especially on their staff in production etc, however it will birthe new products by their competitors that will match up to theirs.