Neimeth International Pharmaceuticals Plc has said that the construction of a state-of-the-art, WHO-compliant pharmaceutical manufacturing facility in Amawbia, Anambra State, is a move poised to enhance Africa’s healthcare industry and solidify Nigeria’s role as a key player in regional pharmaceutical production.
Speaking at a media parley in Lagos, the Managing Director and CEO of Neimeth, Pharm. Valentine Chinedu Okelu, highlighted the significance of this project in advancing the company’s vision to be the leading innovative healthcare provider from Africa.
The new facility will serve as a center of excellence for pharmaceutical research, development, manufacturing, and distribution. Upon completion, the plant will undergo certification by the World Health Organization (WHO) and other global regulatory agencies, ensuring its compliance with the highest industry standards.
“This facility is a major step in our strategic growth plan. It aligns with our commitment to boosting local pharmaceutical production and reducing dependence on imports. It also positions Neimeth to fully leverage the opportunities presented by the African Continental Free Trade Agreement (AfCFTA),” Okelu stated.
The expansion comes as part of Neimeth’s broader transformation strategy, which has seen the company record substantial business growth. The 2024 unaudited accounts of the company showed Neimeth’s revenue surged by 102 per cent from N2.2bn in 2023 to N4.5bn, with a 170 per cent increase in gross profit.
Despite facing foreign exchange losses, the company has implemented measures to restructure its financial obligations and ensure long-term profitability.
Neimeth said it is also modernizing its existing Oregun plant, which was originally established in 1976. This upgrade will align the facility with Good Manufacturing Practices (GMP) and enhance its capacity to meet growing market demands.
Meanwhile, the new Amawbia facility will significantly bolster the continent’s pharmaceutical supply chain by improving access to high-quality, locally produced medicines, reducing costs, and supporting regional trade under AfCFTA.
Beyond manufacturing, the company said it remains committed to research and development, focusing on internal innovations, strategic collaborations, and import substitution initiatives.
Okelu emphasized that Neimeth is investing heavily in R&D to develop new formulations tailored to Africa’s unique health challenges while strengthening partnerships with medical and pharmaceutical researchers.
Looking ahead, he said Neimeth’s five-year strategic plan (2025–2029) aims to drive sustainable growth, expand market reach, and reinforce its brand presence across Sub-Saharan Africa. The company anticipates a return to profitability and the resumption of dividend payments as its investments in expansion and modernization begin to yield results.
“As we continue on this trajectory, we appreciate the support of our stakeholders and the media in amplifying our progress. We remain committed to delivering high-quality, affordable healthcare solutions and contributing to the advancement of pharmaceutical manufacturing in Africa,” Okelu said.
Neimeth ‘ll Strengthen Africa’s Pharma Supply Chain With Newly Constructed Plant- Okelu is first published on The Whistler Newspaper
Source: The Whistler
