Fidson Healthcare Plc has said it achieved a milestone of N44.64bn market capitalisation as of April 2025, earning it a top spot in Nigeria’s pharmaceutical manufacturing sector.
In a statement, Fidson emphasised that its N44.64bn market capitalisation comes as it celebrates 30 years of operations with record growth.
According to its 2024 audited financial results, the indigenous drug manufacturer recorded N84.2bn in revenue, a 59 per cent rise from N53.1bn in 2023. Profit after tax also grew by 60 per cent to N5.78bn, while profit before tax stood at N7.7bn, reflecting a 30 per cent increase.
Fidson’s Finance Director, Imokha Ayebae, attributed the company’s strong performance to operational efficiency and sound financial management, stating, “They were the result of operational efficiency, prudent financial management, and a good relationship with critical stakeholders in the Nigerian market.”
The firm also announced an increase in its dividend payout from N0.60 to N1.00 per share, totalling N2.29bn. Its earnings per share rose from 157 kobo to 252 kobo, while net assets per share grew by 23 per cent to 1,034 kobo.
Deputy Managing Director Biola Adebayo disclosed that the company invested over N3.7bn in property, plant and equipment in 2024 alone, noting, “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.”
Fidson revealed that it currently runs a World Health Organisation-compliant manufacturing facility in Ogun State and leads the continent in large-volume parenteral production, churning out over 120 million bottles annually. The company also added that it remains the only manufacturer of glass-ampoule injectables in Nigeria.
Backed by a workforce of over 1,709 employees, the company lauded its record of maintaining a non-discrimination policy and offering health insurance, performance-based incentives, and welfare support such as free meals for low-income workers.
Meanwhile, Fidson disclosed that it operates 11 depots across Nigeria and plans to open more as part of its efforts to deepen market penetration. The company stated that its expansion plans reinforce its distribution network to guarantee timely access to medicines.
Also, the company noted that as part of its expansion drive, it is actively exploring new African markets and investing in infrastructure and strategic partnerships. In 2024, it spent N248m on corporate social responsibility.
