Fidson Healthcare Plc has continued to lead the industry by championing innovation and strategic vision, demonstrating a steadfast commitment to quality healthcare delivery, despite global supply chain shifts, currency volatility, and increasing public health demands.
The
Nigeria’s pharmaceutical giant which celebrated 30 years with record-breaking
growth hit ₦84.2 billion revenue in 2024 and leads the industry with a market
cap of ₦44.64 billion while posting 60 percent profit surge.
In the
ever-evolving landscape of Nigeria’s pharmaceutical industry, Fidson Healthcare
Plc continues to distinguish itself as the industry leader.
Despite the
shifting global supply chains, currency volatility, and growing public health
needs, the company remains driven by innovation, strategic foresight, and an
unyielding commitment to quality healthcare delivery.
The recently
released 2024 audited financial statements present more than just a healthy
balance sheet; they offer compelling evidence of a company firmly positioned at
the forefront of its sector, shaping the future of healthcare in Nigeria with
bold and deliberate strides.
The proudly Nigerian company, which hit the 30-year milestone in 2025, has demonstrated a strong growth trajectory over the years, making it an attractive prospect for investors.
Today, it is
the largest pharmaceutical company in Nigeria with a market capitalisation of
approximately 44.64 billion naira as of April 2025.
According to
the 2024 audited financial statements, Fidson recorded a 59 percent increase in
revenue, growing from ₦53.1 billion in 2023 to ₦84.2 billion. While profits
before tax rose to ₦7.7 billion, representing a 30 percent growth, the net
profit surged by an impressive 60 percent to ₦5.78 billion.
In his
statement, Mr. Imokha Ayebae, the Finance Director, explained that these
achievements were not accidental. “They were the result of operational
efficiency, prudent financial management, and a good relationship with critical
stakeholders in the Nigerian market.”
Also,
earnings per share climbed from 157 kobo to 252 kobo, and net asset per share
rose by 23 percent to 1,034 kobo - signaling strong shareholder value creation.
In a bold expression of confidence in its future cash flow and profitability,
the company proposes an increase in its dividend payout from ₦0.60 to ₦1.00 per
share, amounting to ₦2.29 billion in total.
This
remarkable financial success rides on Fidson’s clinical adherence to global
standards in every facet of the organisation’s processes. At the core of its
business is the world-class WHO-complaint manufacturing facility in Ogun State.
Mr. Biola
Adebayo, Deputy Managing Director, revealed that the company invests heavily in
its manufacturing capabilities. “Since embarking on local production in 2002,
the company has maintained a steady growth trajectory, consistently expanding
its production capabilities in line with the current Global Manufacturing
Practices (cGMP).”
In 2024
alone, Fidson reinforced this edge by investing over ₦3.7 billion in property,
plant, and equipment, signifying not just a commitment to meeting growing
demand but also a strategic focus on reducing dependence on imported drugs. The
company’s ability to produce high-quality pharmaceutical products locally—from
tablets to infusions and injectables is unrivaled.
Today, Fidson
is the leading LVP manufacturer in Africa, producing over 120 million bottles
annually. The company is also the manufacturer of glass-ampoule injectables in
Nigeria. This has played a pivotal role in enhancing national health security
while simultaneously fostering affordability and accessibility across the
country.
Complementing
these manufacturing capabilities is a robust logistics and distribution system.
The company has cultivated a vast and reliable network that spans all
geopolitical zones in Nigeria, ensuring the seamless movement of products from
factory floors to hospital shelves and retail pharmacies.
With 11
purpose-built depots already operated across Nigeria’s geopolitical regions,
more depots are in the works to ensure efficient distribution of life-saving
medicines to reinforce the brand’s reputation for reliability in a market where
timely access to medicines is critical.
Yet,
Fidson’s most valuable asset remains its people.
With a
workforce of over 1,709 employees, the company has cultivated a culture rooted
in professionalism, inclusivity, and continuous learning. It maintains a policy
of non-discrimination, offering equal opportunities to all. Beyond statutory
obligations, the company goes further to prioritize employee well-being by offering
comprehensive health insurance for all staff, performance-based incentives and
even free meals for low-income workers. Its approach to talent development -
through training, upskilling, and leadership grooming—has created a resilient
and motivated team capable of navigating the dynamic terrain of pharmaceutical
manufacturing, marketing and distribution.
In 2025,
Fidson Healthcare strives to expand its leadership. With continued investments
in infrastructure and expertise, actively exploring new markets across Africa,
and strategic partnerships across the healthcare value chain, the company is
poised to deepen its market penetration and broaden its impact on public health
outcomes in Africa.
Its CSR
expenditure (amounting to ₦248 million in 2024) demonstrates a deep sense of
social responsibility, further strengthening its community ties, corporate
legacy and environmental sustainability.
Fidson
Healthcare is more than a pharmaceutical company; it is a symbol of national
pride and resilience. With visionary leadership, a dynamic workforce, and a
steadfast commitment to innovation and excellence, Fidson is on course to not
only lead the pharmaceutical industry in 2025 but to define its future.
