Fidson Healthcare Plc, one of the leading pharmaceutical companies in the country, has recently made a giant leap toward addressing Nigeria’s pharmaceutical needs by entering into an agreement with the American company, GB Pharma Holdings. Their business agreement is expected to provide Fidson with the guidance it needs to establish its foothold within the US and to develop strategic relationships with other business entities.
Of all these entities, US Pharmacopeia (USP) is the most critical. It will insure Fidson’s growth by helping it sustain U.S. and international standards. Founded in 1820, this scientific nonprofit organization will share with Fidson its expertise by overseeing the identity, strength, quality and purity of medicines, food ingredients and dietary supplements that Fidson will manufacture and distribute.
With the support of GB Pharma Holdings, Immune Therapeutics Incorporation and American Hospitals & Resorts (AHAR), Fidson will gain from this partnership exclusive distribution rights to the internationally recognized immune therapy LodonalTM (Low Dose Naltrexone). It is expected that such collaboration will bring global recognition to Fidson’s pharmaceutical enterprise.
As Fidson’s Managing Director and Chief Executive Officer, Dr. Fidelis Akhagboso Ayebae has turned his company into one of the top Nigerian pharmaceutical company, which is publicly traded with annual US earnings of $60.5 million, making it one of the largest such pharmaceutical companies in Nigeria.
“My goal,” Dr. Ayebae said, “is to provide Nigerians with excellent quality pharmaceuticals at affordable prices. I am very confident that working with USP will help me achieve this end.”
To prepare for major growth, Dr. Ayebae has invested $55 million into building a six-line pharmaceutical manufacturing plant in Ogun State, Nigeria. The new plants is expected to more than double production and expand Fidson’s outreach into Nigeria and Africa.
Dr. Gloria B. Herndon, President and CEO of GB Pharma Holdings of Washington, DC, will assist in this growth. Positioned to provide affordable and sustainable healthcare solutions throughout Africa, she will be a behind-the-scenes catalyst that will offer specialized expertise and outreach for helping Fidson develop its pharmaceutical market.
“Our business arrangement will give Dr. Ayebae access to a variety of our products that are approved by the Nigeria’s National Agency for Food and Drug Administration and Control’s regulatory body,” Dr. Herndon said. “This includes the wonder drug LodonalTM which has been proven to be a true wonder drug for combating HIV and other immune system diseases. For this reason, we believe it will save many lives in Africa and beyond.”
Doctors Herndon and Ayebae are both excited about their important business relationship. “Dr. Ayebae and I both share the same core values,” Dr. Herndon said. “He not only supports excellence, but he is also an ethical leader who has created a world-class company. His plant in Nigeria is the best I have ever seen in Africa – and even in the world. We both believe our union will contribute to strengthening the ties between the U.S. and Nigeria. “How can we fail?” Dr. Herndon concluded. “It will be in the same spirit of collaboration that U.S. President Barack Obama and Nigerian President Muhammadu Buhari have already discussed in the past.”
This story was published in Newswatch Times on February 11, 2016.