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NIGERIAN DRUGMAKERS SEE 58% REVENUE RISE AS PRICES SOAR

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Olori Uwem

Well-Known Member
Mar 18, 2024
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NIGERIAN DRUGMAKERS SEE 58% REVENUE RISE AS PRICES SOAR

The combined revenue of three listed Nigerian pharmaceutical companies—Fidson Healthcare Plc, May & Baker Nigeria Plc, and MeCure Industries Plc—rose by 58 percent in the first quarter of 2024, reaching N33.4 billion from N21.13 billion the previous year.

Fidson Healthcare's revenue increased by 65.6 percent to N18.88 billion, MeCure Industries saw a 47.2 percent rise to N8.08 billion, and May & Baker Nigeria's revenue grew by 51.4 percent to N6.42 billion. Despite increased input costs, all three companies reported significant revenue growth driven by higher drug prices.
 
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