… Targets deeper market reach, boosts investor confidence

By Chioma Obinna

Fidson Healthcare Plc, Nigeria’s foremost pharmaceutical manufacturer, has posted its strongest financial performance to date as it celebrates 30 years of operations in 2025. The company’s audited 2024 results show a 59 percent jump in revenue from ₦53.1 billion to ₦84.2 billion, while net profit rose sharply by 60 percent to ₦5.78 billion.

Profit before tax stood at ₦7.7 billion, representing a 30 percent increase over the previous year. Earnings per share grew from 157 kobo to 252 kobo, while net asset per share rose by 23 percent to 1,034 kobo—highlighting significant value creation for shareholders.

Market capitalization rose to ₦44.64 billion as at April 2025, solidifying Fidson’s position as Nigeria’s largest pharmaceutical company by market value.

“These achievements are not by chance,” said Mr. Imokha Ayebae, Finance Director, Fidson Healthcare Plc. “They are the outcome of sustained operational efficiency, prudent financial management, and strong partnerships across the healthcare ecosystem.”

To reflect its improved earnings and outlook, the Board has proposed a 67 percent increase in dividend payout—from ₦0.60 to ₦1.00 per share, amounting to ₦2.29 billion.

Fidson’s performance is underpinned by its WHO-compliant manufacturing facility in Ogun State, widely regarded as one of the most advanced in the region. In 2024, the company invested over ₦3.7 billion in property, plant and equipment, further consolidating its capacity to meet growing local and regional demand.

“Since local manufacturing began in 2002, our goal has been to align with current Good Manufacturing Practices (cGMP),” said Mr. Biola Adebayo, Deputy Managing Director. “Our continuous investments reflect a long-term strategy to reduce import dependency and enhance national health security.”

Fidson manufactures over 120 million large volume parenteral (LVP) bottles annually and remains the only Nigerian producer of glass-ampoule injectables a critical advantage in the local pharmaceutical landscape.

Distribution remains another strength. The company operates 11 strategically located depots across Nigeria and is expanding its logistics footprint to ensure timely delivery of medicines nationwide.

“Our logistics network ensures that essential medicines move seamlessly from factory to pharmacy shelves, especially in underserved areas,” Adebayo added.

Beyond business operations, Fidson attributes much of its resilience to its 1,709-strong workforce. The company promotes inclusivity, training, and staff welfare, offering benefits such as comprehensive health insurance, performance incentives and welfare support for low-income employees.

“We believe our people are our greatest asset,” the company said in a statement. “Our inclusive and developmental approach helps build a workforce capable of navigating the dynamic pharmaceutical landscape.”

Fidson is exploring new African markets, deepening its value chain partnerships, and expanding infrastructure to consolidate regional leadership. 

Its corporate social responsibility (CSR) spend reached ₦248 million in 2024, focused on health outreach, education, and environmental sustainability.

“Fidson’s 30-year journey is a testament to local enterprise with global standards,” said Mr. Fidelis Ayebae, Founder and CEO. 

“We are not just building a business; we are contributing to national development and public health outcomes.”

He said as it turns 30, Fidson is not merely marking time but setting the pace for the next era in Nigerian and African healthcare.