Fidson Partners with Chinese Firms to Build $100M Nigeria Drug Plant

BREAKING NEWSSeptember 27, 2024 at 2:42 PM UTC

TLDR

Fidson Healthcare Plc partners with Chinese firms to build a $100 million pharmaceutical plant in Lagos, aimed at addressing Nigeria's medicine shortage.
The plant's focus on boosting Nigeria's healthcare self-reliance will aid in addressing the country's HIV epidemic.
The collaboration supports Nigeria in overcoming healthcare access challenges amid multinational exits and economic instability.

Nigeria’s largest drugmaker, Fidson Healthcare Plc, is teaming up with Chinese firms to build a $100 million pharmaceutical plant in Lagos to address the country’s medicine shortage.

The partnership involves Jiangsu Aidea Pharmaceutical Co., PharmaBlock Sciences Nanjing Inc., and the China-Africa Development Fund. Construction is expected to begin within 30 months.

The plant will focus on boosting Nigeria’s self-reliance in healthcare, particularly in addressing the HIV epidemic. This move is crucial as Nigeria grapples with healthcare access issues exacerbated by multinational exits and economic instability.

Key Takeaways

Nigeria, Africa’s most populous nation, has around 2 million people living with HIV and relies entirely on imported anti-retroviral drugs, which limits access. Fidson aims to fill the gap left by multinationals like GSK Plc and Sanofi SA, which are exiting Nigeria due to economic challenges. The new plant will help ensure a stable supply of medicines for treating HIV and opportunistic infections. Fidson has already launched over 16 new products since June 2023.

Nigeria

Healthcare

China

Fidson Healthcare

FDI