Fidson Healthcare Reports Rising Profits Despite Pharma Industry Challenges Under Fidelis Ayebae

Access to exchange is one of the biggest problems of pharmaceutical manufacturing industry. Indeed, Nigerian industry imports more than 90% of its inputs. Other concerns relate to infrastructure and rising diesel prices, which unfortunately factories have to rely on due to the limited supply of electricity from DisCos, which is insufficient to run a business continuously, and manufacturers have need constant feeding.

These difficulties cause the average Nigerian customer to pay more, even for locally manufactured drugs. Be that as it may, some pharmaceutical manufacturing companies have managed to stay afloat and are steadily increasing their profits. Fidson Healthcare plc is one such pharmaceutical company.

About Fidson Healthcare Plc

Fidson Healthcare Plc is a pharmaceutical manufacturing company in Nigeria which commenced operations on March 1, 1995. Its main activities are the manufacture and distribution of pharmaceuticals. Over-the-counter, ethical and consumer are its product segments. After only a year, the company began importing its brand of finished pharmaceutical products, launching the quinolones Ciprotab and Peflotab on the market.

Fidson established its first local manufacturing plant in July 2002 and later became the first company in sub-Saharan Africa to produce antiretroviral (ARV) drugs. The company’s Nigerian assets include two factories, four warehouses and four headquarters.

Growing further, the company was listed on the stock exchange and became a listed company in 2008.

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Some products

Some of its popular products are Tuxil-D, Astypher, Ciprotab and Tribotan. The Company’s drug portfolio generally falls into the following categories:

  • Cardiovascular drugs
  • Anxiety and sleep disorders
  • anti allergen
  • Anti-infective
  • Central nervous systems
  • cough and cold
  • Vitamins
  • Ophthalmic solutions
  • Topical dermatology
  • Topical
  • Neuropsychiatry

Leadership

Mr. Segun Adebanji – Chairman

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Mr. Adebanji attended Yaba College of Technology and graduated with 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 the African Capital Alliance. He is also a non-executive director of various companies.

Fidelity Ayebae – Founder/CEO

Fidelis Ayebae graduated with a degree in Civil Engineering from the Mainland Institute of Technology in 1976. At the University of Lagos, he completed a Higher Diploma in Business Administration in 1999. He became a Fellow of the Nigeria Institute of Management and an Associate of the Chartered Institute of Administration.

In 1995 he became the founder and first managing director of Fidson Healthcare Limited after holding positions in several companies including Citibank Limited. He is chairman and director of many other companies.

Achievements

  • Fidson increased its after-tax profit by 196%, declaring a dividend of 50 kobo per share in August 2022
  • The company became the best performing stock in the healthcare sector in May 2022
  • Fidson won the Financial Standard Sector Leader Award and received NIS ISO 9001:2008 certification in 2011.
  • Recorded a profit of 202% in fiscal 2020, pre-tax profit
  • Became one of the largest employers of pharmacists in Nigeria in the private sector, with over 150 medical representatives
  • The company operates a CGMP compliant manufacturing facility and is a candidate for WHO GMP certification.

Performance

The company has a market capitalization of around N19 billion and its shares are currently trading at N8.31 per share. The company reported revenue of N11,048,672,000 in its September 2022 report and made a pre-tax profit of N1,090,999,000.

Exchange rate volatility may still exist in the future. Thus, the company and the sector as a whole must be adequately prepared to stay in business.

In addition, one of the ways in which the company can improve its performance is to cooperate with stakeholders to facilitate the movement of capital. On the production and import side, increased cooperation with more established companies in other regions can be facilitated by focusing on research and development of drugs that will be used to treat the bulk of the problems. health of Nigerians.