Healthcare companies listed on the Nigerian Exchange closed the last trading day of 2025 with a cumulative market capitalization of N466.73 billion.
This is an impressive 220.9% increase from their combined N145.4 billion in 2024, showing strong growth in value on the exchange.
Collectively, these companies accounted for 0.47% of the total Nigerian Exchange market, which, as tracked by the All-Share Index, was valued at N99.38 trillion.
The surge in value was fueled by the exceptional performance of these companies, and in 2025, four pharmaceutical firms delivered returns exceeding 100%, closing the year firmly in the green.
One major reason for this strong performance seems to be higher sales of pharmaceutical products, which helped companies that reported nine-month or full-year results post healthier profits in 2025.
Below are the largest health companies on the NGX, covering pharmaceuticals and healthcare services, based on their market capitalization on the last trading day of 2025.
May & Baker Nigeria Plc holds the third spot with a market value of N32.7 billion at the end of 2025, up from N16.2 billion in 2024.
The increase in market cap was driven by share price appreciation, as its stock more than doubled from around N9 to N19, with most of the gain coming in the second quarter.
The share price surge was likely backed by positive market sentiment from the company’s strong financial performance.
- Sales hit N38.2 billion in 2025, mostly from pharmaceutical products, and profit before tax jumped to N6.55 billion from N2.57 billion the year before.
This momentum has continued into 2026, lifting the market value to N72.97 billion and the share price to N42.30, marking a strong start to the year.
