Tag: Fidson

Fidson Healthcare Plc, Nigeria’s leading pharmaceutical manufacturer, has formally launched its highly anticipated Rights Issue, following the receipt of final regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX). The signing ceremony, held on Friday, December 12, 2025, at the company’s head office in Lagos, marks a major milestone in Fidson’s growth strategy. The Rights Issue is expected to raise up to N21 billion in gross proceeds, providing fresh capital to strengthen production capacity, drive product innovation and accelerate the company’s pan-African expansion plans.

Under the offer, Fidson is issuing 600 million new ordinary shares of 50 kobo each at N35 per share. The shares are being offered to existing shareholders on the basis of one new ordinary share for every four ordinary shares held as of the close of business on November 12, 2025, which serves as the qualification date. The capital raise comes on the back of a strong financial performance that underscores Fidson’s growing dominance in the Nigerian and West African pharmaceutical markets. For the nine months ended September 30, 2025, the company recorded a 132 per cent year-on-year increase in profit after tax to N7.97 billion. Revenue rose by 56 per cent to N93.08 billion, driven by robust demand and wider market reach, while operating profit surged 92 per cent to N16.95 billion, reflecting improved efficiency and cost discipline.

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Speaking at the event, Managing Director and Chief Executive Officer, Mr. Biola Adebayo, described the Rights Issue as a pivotal step in Fidson’s long-term growth journey. “The successful formalisation of this N21 billion Rights Issue marks a critical milestone for Fidson. This capital will cement our position as the foremost healthcare company in Nigeria and a dominant player across Africa,” he said, adding that the company’s recent performance demonstrates its capacity to innovate and deliver sustainable value.

Finance Director, Mr. Imokha Ayebae, said the offer was deliberately structured to be attractive and accessible to existing investors. He noted that proceeds would be deployed judiciously to optimise operations, upgrade technology and expand product lines, urging eligible shareholders to exercise their rights within the offer period.

Also speaking, Chief Executive Officer of CardinalStone Partners Limited, the lead issuing house, Mr. Michael Nzewi, highlighted Fidson’s equity market journey. He pointed out that the company’s last capital raise in 2019 was priced at N4.50 per share, compared with the current offer price of N35, which still represents a discount to the prevailing market price. According to him, this reflects the strong growth trajectory of Fidson’s stock and its appeal to long-term investors. Shareholders listed on the register as of the qualification date are advised to complete the official participation form and submit it, along with full payment, to their stockbrokers or designated receiving agents before the closing date. With the Rights Issue, Fidson reaffirmed its commitment to strengthening pharmaceutical manufacturing in Nigeria, creating value for shareholders and advancing innovation across the healthcare value chain.

Fidson Healthcare Plc, one of Nigeria’s leading pharmaceutical companies, has appointed two distinguished female Independent Non-Executive Directors, Dr. Amina Mohammed-Baloni and Mrs. Hannah Emanehi Oyebanjo, to its Board. The strategic appointments, approved at a recent Board meeting, aim to strengthen corporate governance, leverage diverse expertise, and support Fidson’s vision for growth and industry leadership. The appointments take immediate effect, pending final shareholder approval at the next Annual General Meeting.

Dr. Amina Mohammed-Baloni (MBBS, FWACP, MPH) brings over 25 years of experience in clinical medicine, public health policy, and health systems governance. A Fellow of the West African College of Physicians, she is celebrated for impactful initiatives in maternal, child, and community health. Dr. Mohammed-Baloni previously served as Commissioner for Health in Kaduna State, pioneering reforms such as the Zipline drone partnership for medical supply distribution, a pharmaceutical manufacturing MOU with PMG-MAN, and notable COVID-19 pandemic management. She currently chairs the Bauchi State Specialist Hospital Board and serves on the Boards of the Solina Centre for International Development and Research (SCIDaR) and the African Resource Centre for Excellence in Supply Chain Management (ARC-ESM).

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Mrs. Hannah Emanehi Oyebanjo (MCIoD, MCIM, MNIMN, FISMN, frpa) brings over 30 years of leadership in business growth, transformation, and marketing strategy. As Managing Director of Redwood Consulting, she has driven category-defining products and award-winning campaigns. She previously served as Marketing Director at GlaxoSmithKline and Colgate-Palmolive and was recently appointed to the Faculty for Marketing and Entrepreneurship at CEIBS. A recipient of the Marketing Icon Award and WIMCA Lifetime Achievement Award (2025), Mrs. Oyebanjo is a Fellow of ARCON and the Chartered Institute of Directors, holding a BSc in Chemistry and an MBA from Lagos Business School and the University of Cape Town. With their combined expertise, Fidson’s Board is well-positioned to drive innovation, governance excellence, and sustainable growth.

In a year marked by global economic headwinds, supply chain disruptions, and persistent currency volatility, one Nigerian pharmaceutical company has emerged resilient and triumphant. Fidson Healthcare Plc, a wholly Nigerian company, is celebrating its 30th anniversary with record-breaking financial performance, unmatched operational growth and a renewed commitment to shaping the future of healthcare in Nigeria and beyond.

With a commanding market capitalisation of N44.64 billion as of April 2025, Fidson stands as Nigeria’s largest pharmaceutical company—a position earned through consistent innovation, strategic foresight, and an unwavering focus on delivering world-class healthcare solutions. The recently released audited financial statements for 2024 tell a story not just of financial success but of deliberate, values-driven growth in a challenging environment. In 2024, Fidson recorded revenue of N84.2 billion, a staggering 59% increase from N53.1 billion in the previous year. Net profit soared by 60% to N5.78 billion, while profit before tax rose to N7.7 billion, marking a 30% increase. Earnings per share climbed from 157 kobo to 252 kobo, and the net asset per share grew by 23% to 1,034 kobo—figures that underscore the company’s value creation and appeal to investors.

Speaking on the outstanding performance, Mr. Imokha Ayebae, the company’s Finance Director, credited the achievement to “operational efficiency, prudent financial management, and a strong relationship with critical stakeholders in the Nigerian market.” This performance has prompted the Board of Directors to propose a significant increase in dividend payout—from N0.60 to N1.00 per share, totalling N2.29 billion—a move that reflects both financial health and confidence in sustained profitability.

At the heart of Fidson’s success lies its world-class manufacturing infrastructure. The company’s facility in Ogun State is not only WHO-compliant but also built to meet the most rigorous global benchmarks in pharmaceutical production. According to Deputy Managing Director, Mr. Biola Adebayo, Fidson has been investing heavily in manufacturing since it began local production in 2002. “In line with current Good Manufacturing Practices (cGMP), we’ve continuously upgraded our production capabilities to meet growing demand while reducing dependency on imports,” Adebayo explained.

In 2024 alone, the company invested more than N3.7 billion in property, plant, and equipment—demonstrating strategic focus and a long-term view of national pharmaceutical independence. Fidson’s ability to produce high-quality medications—from tablets and syrups to large volume parenterals (LVPs) and injectables—has set it apart in Nigeria and across Africa. With an annual production capacity exceeding 120 million bottles, Fidson is now the continent’s leading LVP manufacturer. It also stands as Nigeria’s only manufacturer of glass-ampoule injectables, significantly contributing to national health security and the affordability of essential medicines.

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But manufacturing is only half the story. Fidson has also built an expansive and robust logistics and distribution network that ensures timely delivery of products nationwide. Operating 11 purpose-built depots across all geopolitical zones of Nigeria, the company guarantees product availability in hospitals, clinics, and retail pharmacies—a critical factor in a country where access to timely medication can be a matter of life and death. Plans are underway to expand this infrastructure even further, with new depots in the pipeline to improve coverage and efficiency. This reliability has cemented Fidson’s reputation as a brand that patients and healthcare providers can trust, regardless of location.

Fidson’s success is also deeply rooted in its people. With a workforce of over 1,709 employees, the company fosters a culture anchored in professionalism, inclusivity, and continuous learning. It maintains a strict non-discrimination policy, offering equal opportunities across all levels and roles.

As it marks three decades of excellence, Fidson is not resting on its laurels. The company is actively exploring expansion into new African markets, with strategic investments in infrastructure, talent, and partnerships. Its long-term vision includes deeper penetration into regional markets and stronger ties across the healthcare value chain. “Our ambition is to make quality healthcare affordable and accessible—not just in Nigeria but across Africa,” said a senior executive familiar with the company’s strategic roadmap. Already, Fidson is in advanced talks with partners to scale its export capabilities and strengthen regional health resilience. This outward-looking vision is backed by responsible corporate citizenship. In 2024, Fidson spent N248 million on corporate social responsibility (CSR) initiatives, focusing on health outreach, educational support, and environmental sustainability. These efforts demonstrate a company deeply rooted in community engagement and long-term social impact.

In a move poised to enhance its governance and support continued growth, Fidson Healthcare Plc, one of Nigeria’s leading pharmaceutical companies, has appointed three new directors to its board. This decision, made during a Board meeting in December 2024, marks a significant step toward reinforcing the company’s dedication to innovation, healthcare improvement, and operational excellence. The new directors, Dr. Babatunde Kabir Ipaye, Mr. Philip Ikechi Ejiofor, and Mr. Oshoke Michael Ayebae, officially joined the board on January 1, 2025.

Fidson’s commitment to expanding its leadership and fostering a deeper impact on healthcare is evident through these strategic appointments. The Board’s goal is to harness the experience and expertise of accomplished professionals to propel the company forward and drive long-term sustainability. Dr. Ipaye, who takes on the role of Independent Non-Executive Director, brings more than 20 years of experience in leadership, health policy development, and systems reform. His distinguished career includes significant contributions to public health programmes across malaria, tuberculosis, HIV/AIDS, and COVID-19, both within Nigeria and internationally. Having served as the Commissioner for Health in Ogun State and as a Consultant Health Specialist with the World Bank, Ipaye’s expertise promises to enhance Fidson’s strategic focus and operational effectiveness. His leadership in healthcare delivery and policy will be invaluable in navigating the complex health landscape and aligning Fidson’s operations with global best practices.

Mr. Ejiofor, another Independent Non-Executive Director, joins Fidson with an impressive 30-year career in senior management roles, including finance, logistics, supply chain, and IT. With experience working across multinational organisations in Nigeria and Rwanda, Ejiofor has developed deep knowledge in strategic financial planning, regulatory compliance, and organisational growth. His ability to drive operational efficiency and lead high-performing teams aligns with Fidson’s vision for a future marked by excellence and forward-thinking leadership.

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The third appointee, Mr. Ayebae, has been with Fidson since 2011 and is now appointed Executive Director, Business Development and Marketing. His contributions to Fidson have been significant, including the establishment of the company’s herbal and nutraceutical division and leading business development since 2016. Under Ayebae’s leadership, Fidson has introduced over 40 successful new products in five years and rebranded over 80% of its product portfolio, enhancing both market presence and consumer acceptance. His deep understanding of market trends, coupled with his academic background in Marketing and Business Management, positions him well to drive Fidson’s continued growth and innovation.

Commenting on the appointments, Fidson’s Chairman of the Board, Olusegun Adebanji, expressed his excitement about the addition of these seasoned professionals to the team. “We are pleased to welcome these accomplished individuals to the Fidson board. Their diverse expertise and strategic insights will greatly strengthen our leadership capacity, helping us achieve our mission of advancing healthcare in Africa,” he said. Adebanji reiterated Fidson’s commitment to improving healthcare delivery across the continent, emphasising that the company’s success depends not only on the expertise of its board but also on the dedication of its workforce.

Fidson Healthcare Plc, one of Nigeria’s leading pharmaceutical companies, has pledged to continuously expand its manufacturing capacity and brand portfolio, despite the challenging operating environment. This commitment was made by founder and Managing Director Dr. Fidelis Ayeb during the company’s 25th Annual General Meeting (AGM) held in Lagos.

Dr. Ayebae attributed the company’s growth to the support and trust of its stakeholders and customers, along with the management’s commitment to operational excellence and business expansion. “We continuously strive to expand our manufacturing facilities and brand portfolio, developing our capacity to manufacture all forms of pharmaceutical products. Within one year, we have increased our offerings of eye and ear drops, commenced the development of dialysis fluid, and pioneered the local production of ampoule injections in the country. These expansion projects are not only viable but also secure our long-term competitiveness and align with the expectations of our numerous stakeholders who believe in our capacity to contribute significantly to the success of Nigeria’s pharmaceutical industry,” he said.

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At its AGM, Fidson presented robust financial results for the year ending December 31, 2023. Shareholders approved a dividend of 60 kobo per 50 kobo ordinary share, marking a 9.1per cent increase from the previous year. The company reported a turnover of N53.050 billion in 2023, up from N40.634 billion in 2022, representing a 31 per cent increase. Operating profit grew by 6.78 per cent, from N7.489 billion in 2022 to N7.996 billion in 2023, while profit before tax rose by 2 percent, from N5.781 billion in 2022 to N5.917 billion in 2023. However, profit after tax saw a decline of 13.85 per cent, dropping from N4.187 billion in 2022 to N3.607 billion in 2023.

Company Chairman Olusegun Adebanji noted that the company faced increased costs, particularly in energy, importation, and administrative expenses. “The Board and Management have put measures in place to ensure operational efficiency and enhance the strength and affordability of our brands to minimise the adverse effects of the challenging economic environment on our operating results.”

Shareholders expressed satisfaction with the company’s performance. Chief Timothy Adesiyan commended Fidson for its consistent dividend payments despite the challenging business environment, while Barrister Adetutu Siyonbola praised the management for keeping product prices affordable despite economic difficulties.