pharmaceutical market research companies in nigeria

Connect with us

Ask the analyst for, nigeria pharmaceuticals market outlook | covid-19 impact, size, share, industry, companies, trends, value, growth, analysis, revenue & forecast.

-->

ETC338509	Aug 2022	May 2024	Market Research Report
6Wresearch	75	35	20

• Report Description
• Table of Content
• Related Topics

Nigeria Pharmaceuticals Market Competition 2023

Nigeria Pharmaceuticals market currently, in 2023, has witnessed an HHI of 2743, Which has decreased slightly as compared to the HHI of 3292 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Key Highlights of the Report:

• Nigeria Pharmaceuticals Market Outlook
• Market Size of Nigeria Pharmaceuticals Market, 2021
• Forecast of Nigeria Pharmaceuticals Market, 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Revenues & Volume for the Period 2018 - 2028
• Nigeria Pharmaceuticals Market Trend Evolution
• Nigeria Pharmaceuticals Market Drivers and Challenges
• Nigeria Pharmaceuticals Price Trends
• Nigeria Pharmaceuticals Porter's Five Forces
• Nigeria Pharmaceuticals Industry Life Cycle
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Type for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Pharmaceutical Drugs for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Biologics for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Distribution Channel for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Hospital Pharmacies for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Retail Pharmacies/ Drug Stores for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Others for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Route of Administration for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Oral for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Parenteral for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Drug Classification for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Branded Drugs for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Generic Drugs for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Mode of Purchase for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Prescription-Based Drugs for the Period 2018 - 2028
• Historical Data and Forecast of Nigeria Pharmaceuticals Market Revenues & Volume By Over-The-Counter Drugs for the Period 2018 - 2028
• Nigeria Pharmaceuticals Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Distribution Channel
• Market Opportunity Assessment By Route of Administration
• Market Opportunity Assessment By Drug Classification
• Market Opportunity Assessment By Mode of Purchase
• Nigeria Pharmaceuticals Top Companies Market Share
• Nigeria Pharmaceuticals Competitive Benchmarking By Technical and Operational Parameters
• Nigeria Pharmaceuticals Company Profiles
• Nigeria Pharmaceuticals Key Strategic Recommendations

Frequently Asked Questions About the Market Study (FAQs):

Do you also provide customisation in the market study.

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3.1 Nigeria Country Macro Economic Indicators

3.2 Nigeria Pharmaceuticals Market Revenues & Volume, 2021 & 2028F

3.3 Nigeria Pharmaceuticals Market - Industry Life Cycle

3.4 Nigeria Pharmaceuticals Market - Porter's Five Forces

3.5 Nigeria Pharmaceuticals Market Revenues & Volume Share, By Type, 2021 & 2028F

3.6 Nigeria Pharmaceuticals Market Revenues & Volume Share, By Distribution Channel, 2021 & 2028F

3.7 Nigeria Pharmaceuticals Market Revenues & Volume Share, By Route of Administration, 2021 & 2028F

3.8 Nigeria Pharmaceuticals Market Revenues & Volume Share, By Drug Classification, 2021 & 2028F

3.9 Nigeria Pharmaceuticals Market Revenues & Volume Share, By Mode of Purchase, 2021 & 2028F

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

6.1 Nigeria Pharmaceuticals Market, By Type

6.1.1 Overview and Analysis

6.1.2 Nigeria Pharmaceuticals Market Revenues & Volume, By Type, 2018 - 2028F

6.1.3 Nigeria Pharmaceuticals Market Revenues & Volume, By Pharmaceutical Drugs, 2018 - 2028F

6.1.4 Nigeria Pharmaceuticals Market Revenues & Volume, By Biologics, 2018 - 2028F

6.2 Nigeria Pharmaceuticals Market, By Distribution Channel

6.2.1 Overview and Analysis

6.2.2 Nigeria Pharmaceuticals Market Revenues & Volume, By Hospital Pharmacies, 2018 - 2028F

6.2.3 Nigeria Pharmaceuticals Market Revenues & Volume, By Retail Pharmacies/ Drug Stores, 2018 - 2028F

6.2.4 Nigeria Pharmaceuticals Market Revenues & Volume, By Others, 2018 - 2028F

6.3 Nigeria Pharmaceuticals Market, By Route of Administration

6.3.1 Overview and Analysis

6.3.2 Nigeria Pharmaceuticals Market Revenues & Volume, By Oral, 2018 - 2028F

6.3.3 Nigeria Pharmaceuticals Market Revenues & Volume, By Parenteral, 2018 - 2028F

6.3.4 Nigeria Pharmaceuticals Market Revenues & Volume, By Others, 2018 - 2028F

6.4 Nigeria Pharmaceuticals Market, By Drug Classification

6.4.1 Overview and Analysis

6.4.2 Nigeria Pharmaceuticals Market Revenues & Volume, By Branded Drugs, 2018 - 2028F

6.4.3 Nigeria Pharmaceuticals Market Revenues & Volume, By Generic Drugs, 2018 - 2028F

6.5 Nigeria Pharmaceuticals Market, By Mode of Purchase

6.5.1 Overview and Analysis

6.5.2 Nigeria Pharmaceuticals Market Revenues & Volume, By Prescription-Based Drugs, 2018 - 2028F

6.5.3 Nigeria Pharmaceuticals Market Revenues & Volume, By Over-The-Counter Drugs, 2018 - 2028F

7.1 Nigeria Pharmaceuticals Market Export to Major Countries

7.2 Nigeria Pharmaceuticals Market Imports from Major Countries

9.1 Nigeria Pharmaceuticals Market Opportunity Assessment, By Type, 2021 & 2028F

9.2 Nigeria Pharmaceuticals Market Opportunity Assessment, By Distribution Channel, 2021 & 2028F

9.3 Nigeria Pharmaceuticals Market Opportunity Assessment, By Route of Administration, 2021 & 2028F

9.4 Nigeria Pharmaceuticals Market Opportunity Assessment, By Drug Classification, 2021 & 2028F

9.5 Nigeria Pharmaceuticals Market Opportunity Assessment, By Mode of Purchase, 2021 & 2028F

10.1 Nigeria Pharmaceuticals Market Revenue Share, By Companies, 2021

10.2 Nigeria Pharmaceuticals Market Competitive Benchmarking, By Operating and Technical Parameters

Indonesia pharmaceuticals chemical Market (2020-2026)

India pharmaceuticals chemical Market (2020-2026)

Malaysia pharmaceuticals chemical Market (2020-2026)

Morocco pharmaceuticals chemical Market (2020-2026)

Turkey Pharmaceuticals Market (2022-2028)

Africa Pharmaceuticals Market Outlook

Middle East Pharmaceuticals Market (2021-2027)

Asia Pacific Pharmaceuticals Market (2021-2027)

North America Pharmaceuticals Market (2021-2027)

Europe Pharmaceuticals Market (2021-2027)

Related Report Available

• Single User License $ 1,995
• Department License $ 2,400
• Site License $ 3,120
• Global License $ 3,795

Related Reports

• South Korea Stationery and Office Supplies Market (2024-2030) | Industry, Forecast, Growth, Analysis, Share, Outlook, Revenue, Companies, Trends, Size & Value
• Myanmar Stationery and Office Supplies Market (2024-2030) | Share, Outlook, Growth, Value, Companies, Forecast, Size, Industry, Revenue, Analysis & Trends
• Myanmar Industrial machinery and equipment Market (2024-2030) | Forecast, Size, Analysis, Trends, Companies, Industry, Growth, Value, Outlook, Revenue & Share
• Peru Construction and Mining Machinery Market (2024-2030) | Industry, Analysis, Revenue, Forecast, Size, Growth, Outlook, Trends, Value, Share & Companies
• Poland Construction and Mining Machinery Market (2024-2030) | Industry, Share, Analysis, Revenue, Forecast, Size, Growth, Outlook, Trends, Value, Companies & COVID-19 IMPACT
• United States Office Furniture Market (2024-2030) | Growth, Companies, Analysis, Value, Revenue, Forecast, Trends, Industry, Size, Outlook & Share
• Singapore Canned Fruits Market (2024-2030) | Size, Trends, Growth, Industry, Value, Forecast, Companies, Revenue, Share, Analysis & Outlook
• Philippines Canned Fruits Market (2024-2030) | Revenue, Companies, Trends, Outlook, Value, Size, Forecast, Analysis, Growth, Industry & Share
• Vietnam Canned Fruits Market (2024-2030) | Companies, Growth, Value, Revenue, Forecast, Size, Industry, Outlook, Trends, Analysis & Share
• Japan Stationery and Office Supplies Market (2024-2030) | Analysis, Companies, Outlook, Forecast, Growth, Share, Size, Value, Industry, Revenue & Trends

Industry Events and Analyst Meet

Print Expo 2024

𝐏𝐚𝐩𝐞𝐫𝐰𝐨𝐫𝐥𝐝 𝐌𝐢𝐝𝐝𝐥𝐞 𝐄𝐚𝐬𝐭

Gifts & Lifestyle Middle East

15th edition of Oil & Gas Indonesia

Gas India Expo 2024

Our clients.

• Middle East & Africa Commercial Security Market Click here to view more.
• Middle East & Africa Fire Safety Systems & Equipment Market Click here to view more.
• GCC Drone Market Click here to view more.
• Middle East Lighting Fixture Market Click here to view more.
• GCC Physical & Perimeter Security Market Click here to view more.

6WResearch In News

• India's Printer Market Faces 20.7% Decline in Q4 2023: Epson and HP Lead Amidst Downturn
• India's Camera Market Sees 8.9% Decline in Q4 2023; Canon Leads with 38.4% Share
• Doha a strategic location for EV manufacturing hub: IPA Qatar
• Demand for luxury TVs surging in the GCC, says Samsung
• Empowering Growth: The Thriving Journey of Bangladesh’s Cable Industry
• The future of gaming industry in the Philippines

Request Sample For:

6Wresearch is the premier, one stop market intelligence and advisory center, known for its best in class business research and consulting activity. We provide industry research reports and consulting service across different industries and geographies which provide industry players an in-depth coverage and help them in decision making before investing or enter into a particular geography. Read more -->

Privacy Policy

Terms & conditions, advisory & consulting, feasibility studies & business plan, competitors intelligence, channel & distribution strategy, procurement intelligence, customer behavior analysis, business models & key management practices, critical success factors analysis, aerospace and defense, chemicals and materials, semiconductor and electronics, power, utility and oil & gas, heavy industry, telecom, information & communication technology, consumer staples, banking, financial and legal services, metals and minerals, media and entertainment, miscellaneous, ©2024 6wresearch , all right reserved.

Market Research Report

• Market Research Reports

Pharmaceutical Market in Nigeria 2021-2025

• Published: May 2021
• Region: Nigeria
• Base Year: 2017
• Format: PDF
• Table of Content
• Market Segmentation
• Methodology

Nigeria is the most populated country in the Western African region with almost 219 million people. The Pharmaceutical Market in Nigeria witnessed de-growth between 2013 to 2016. The main reasons for de-growth remained, drop in crude oil prices, devaluation of local currency and lack of capital inflows. However, from 2017 onwards the market started to grow at a single digit CAGR but the pandemic Covid 19 has impacted it deeply resulting in widening the scarcity of the various pharmaceutical products in the country. The pandemic effects worsen as Pharmaceutical Market in Nigeria is highly dependent on imports. The main reasons for import dependency of the country is, poor infrastructure and less foreign investment, lack of political interest for local drug research and manufacturing and short supply of highly trained production personnel.

This report provides an analysis of how the Pharmaceutical Market in Nigeria is performing in current pandemic. Initial Chapters contains IKON's Research Methodology and Executive summary. The key Chapter 4 highlights country's key statistics, healthcare indicators and diseases burden in the country. Chapter 5 deals with overall market size and further the market split by Generic Vs. Branded Generic Vs. Patented, By Rx/OTC/OTX, By Key Therapeutic Areas, By top 10 cities of Nigeria. Also it contains the present supply chain in pharmaceutical market in Nigeria. Chapter 6 highlights international trade scenario, Chapter 7 indicates future market forecast, chapter 8 and 9 shows market drivers and challenges respectively. Chapter 10 showcase competitive landscape highlighting key player's market share. Chapter 11 deals with regulatory enviornment and Chapter 12 shows how Covid 19 impacted the Nigeria Pharma market causing increased scarcity of medicines. Chapter 13 highlights the key success factors for pharma market in Nigeria. Chapter 14 lists down the profiles of the major pharma players in Nigeria.

The insight is useful for,

• Understanding and scanning the Nigerian Pharmaceutical Market and identifying market entry and expansion opportunities
• Getting insights of right market segments & taping new market opportunities
• Analyzing competition scenario
• Developing marketing strategy and plan

Beneficial to,

• Pharma manufactuers, Pharma Exporters, Pharma Traders, Investors and Venture Capitalists, Industry Analysts & Consultants, Corporate and Entrepreneurs, Industry association, Education and Government Institutes

Key Questions Answered,

• How has the pharmaceutical market in Nigeria performed so far and how will it perform in the coming years?
• What is the breakup of the market based on Generic vs. Branded, Rx vs. OTC, Key Therapeutic Areas?
• What is the breakup of the market based on the top 10 cities?
• What are the key driving factors and challenges in the market?
• How the market is regulated by different regulatory requirements?

1. Introduction

2. Research Methodology

3. Executive Summary

4. Nigeria - Key Data Snapshot

• 4.1 Nigeria - Country Overview
• 4.2 Country Key Statistics
• 4.3 Health Indicators
• 4.4 Diseases Burden – Nigeria

5. Pharmaceutical Market in Nigeria

• 5.1 Healthcare Statistics
• 5.2 Pharma Market Size
• 5.2.1 Pharma Market by Generic Vs. Branded Generic Vs. Patented
• 5.2.2 Pharma Market by Rx/OTC/OTX
• 5.2.3 Pharma Market by Therapeutic Areas in Value
• 5.2.4 Pharma Market by Therapeutic Areas in %
• 5.2.5 Pharma Market by Top 10 Cities in Value
• 5.2.6 By Top 15 Cities in Value (2019-20)
• 5.2.7 Pharma Market by Top 10 Cities in %
• 5.3 Pharmaceutical Supply Chain in Nigeria

6. Export Import Scenario

• 6.1 Pharmaceutical Import in Nigeria
• 6.2 Pharmaceutical Export in Nigeria

7. Future Market Outlook (2021-2025)

8. Market Growth Drivers

9. Market Challenges

10. Competitive Landscape

• 10.1 Competition Overview
• 10.2 Major Players Market Share

11. Regulatory Environment

• 11.1 Registration and Licensing Requirements
• 11.2 Registration Process
• 11.3 Documents Required for Drug Registration

12. Impact of Covid 19

13. Key Success Factors

14. Profiles of Major Players

• 1. GlaxoSmithKline Nigeria
• 2. Fidson Healthcare
• 3. Shalina Healthcare Nigeria
• 4. Biopharma Nigeria Limited
• 5. Phamatex Nigeria Limited
• 6. Ranbaxy Nigeria (A Sun Pharma Company)
• 7. Emzor Pharmaceutical
• 8. Swiss Pharma Nigeria

List of Tables:

• Table 1: Country Key Statistics
• Table 2: Country’s Economic Indicators
• Table 3: Country’s Health Indicators
• Table 4: Death by Diseases
• Table 5: Decadal % change in death by diseases
• Table 6: No. of Doctors by Specialty in Nigeria
• Table 7: Top Cities Population (in Mn)

List of Exhibits:

• Exhibit 1: Govt Vs. Pvt Healthcare Spending
• Exhibit 2: Pharmaceutical Market in Nigeria (2017 – 2021)
• Exhibit 3: Market by Generic/Branded Generic/Patented in USD Mn (2020)
• Exhibit 4: Market share Generic/Branded Generic/Patented (2020)
• Exhibit 5: Market by Rx/OTC/OTX in USD Mn (2020)
• Exhibit 6: Market share Rx/OTC/OTX (2020)
• Exhibit 7: Pharmaceutical Market by Therapeutic Areas in Nigeria in USD Mn (2020)
• Exhibit 8: Market Share Key Therapeutic Areas in Nigeria (2020)
• Exhibit 9: Market by top 10 cities in USD Mn (2019)
• Exhibit 10: Market share top 10 cities (2019)
• Exhibit 11: Pharma Import Nigeria (2016-2020)
• Exhibit 12: Import Partner share (2020)
• Exhibit 13: Pharma Export Nigeria (2016-2020)
• Exhibit 14: Export Partner share (2020)
• Exhibit 15: Nigeria Pharma Market Future (2025)
• Exhibit 16: Nigeria Pharma Market Shift Rx Vs OTC (2025)
• Exhibit 17: Key Market Players Market Share (2019)
• Generic vs. Branded
• Rx vs. OTC vs. OTX
• Key Therapeutic Areas

The Process

1. Project Kick-off

• Framing research objectives and scope
• Getting research team on board
• Selecting the best fit methodology
• Deciding the project timeline

2. Secondary Research

• Exploring various credible secondary sources to collect relevant qualitative and quantitative data
• Identifying target contacts
• Preparing questionnaires and market models

3. Primary Research

• Conducting structured primary interviews with target respondents
• Having informal discussions with the industry experts and key opinion leaders
• Deriving quantitative and qualitative data and meaningful insights

4. Analysis and Report Writing

• Analyzing the quantitative and qualitative data gathered via primary and secondary sources
• Drawing insightful conclusions and recommendations
• Preparing the final presentable report

Market Size Estimation and Forecast

The CAGR for the forecast period is derived by studying various factors such as market drivers and challenges, technological developments, FDI inflows, market trends and their level of impact on the market.

Top-Down Approach

Bottom-Up Approach

Primary Check

Data Types and Sources

Secondary Data

• Product type and application, Product pricing, Distribution channel, Promotion strategies, Sales figures, Market share, Growth rates
• Market structure, Market segments, Market trends, Market opportunities and Market challenges
• Technological and investment trends and new product development

Secondary Sources

• Company websites and annual reports, Investor presentations, Press Releases, Research papers
• Industry association's website, free and paid databases and industry journals
• Publications by Global organization like World Bank, WHO, OECD, EU, Eurostat etc.

Primary Data

• From supply side – Sales numbers, growth rate, market size, market share, distribution, market drivers and challenges and opportunities
• From demand side - Customer demographics, consumption, buying behavior, buying preference

Data Sources

• Target respondents such as manufacturers, C-level executives, marketing managers, sales managers, purchase managers, raw material suppliers, distributors, retailers, industry experts, heads of various associations,importers, exporters and customers

Primary Interview Techniques

Buy this Report

Share this report, view all market research reports, 1-5 user licence pdf.

Have a Question or Need a Quote or Sample Report?

RELATED NEWS

Auto component industry may touch $100bn mark in decade

idealmedhealth

…creating a healthy world

Top 20 pharmaceutical companies in Nigeria

The pharmaceutical companies in Nigeria are worth commending despite the opposing forces, they stand firmly in discharging their services on research, development, and distribution of pharmaceutical products.

The different challenges faced by these pharmaceutical companies in Nigeria include but are not limited to poor marketing and administrative structure, unfavorable government policies, limited funds to finance research of international edge, low capacity utilization, and high cost of inputs.

Despite these raging forces, these pharmaceutical companies in Nigeria work hard to make the price of pharmaceutical products affordable.

We wouldn’t have done a good job of compilation if we omitted the economic impact of these companies on the economy of the nation of Nigeria and West Africa at large.

Introduction to the pharmaceutical companies in Nigeria

Drug manufacturing started in 1944 in Nigeria by May and Baker, and since then, over 150 pharmaceutical companies both international and domestic have been founded.

These pharmaceutical companies in Nigeria research, develop and manufacture different drugs for various medical purposes in different sectors of health.

All aspects of pharmacy practice in Nigeria are regulated by the Pharmacists Council of Nigeria Act (1992 No. 91). The Act provides for the registration of pharmaceutical premises in Nigeria before the commencement of a pharmaceutical business.

The Act establishes the Pharmacist Council of Nigeria, as the body with the sole responsibility of registering, monitoring, regulating, and controlling all aspects of pharmaceutical practice in Nigeria.

Top 10 best pharmaceutical companies in Nigeria

Below is the list of the pharmaceutical companies in Nigeria;

Juhel Nigeria Limited

Address : 35 Nkwubor Road, Emene-Enugu,

P.O. Box 1549 G.P.O Enugu, Nigeria.

Phone : +2348063388367, +2348070592410

Email : [email protected]

May & Baker Nigeria Limited

Address : 1, May & Baker Avenue, off Idiroko Road (Opposite Covenant University) Ota, Ogun State, Nigeria.

Phone : +234(1) 21212901

Toll-free : 080062926322537

Website : visit here

Krishat Pharma Industries  Limited

Address : 9 Kilometer, Old Lagos Road Podo Ibadan, Nigeria.

New Divine Favour Pharma Industries Limited

Address : 7, New Divine Street , Adegbe Layout, Nkpor,  Anambra State, Nigeria.

Phone : +2348033164323

Rico Pharmaceutical Industries Limited

Address : 26 Nawfia Street, Omagba Phase II, Onitsha, Anambra State, Nigeria.

Dana Drugs Limited

Address : KM 4, Apapa-Oshodi Expressway Ijesha, Lagos, Nigeria

Phone : +234-1-7730054, +2348027767777

Evans Medical Plc

Corporate office

Address : Plot 6, Abimbola Way, Isolo, Apapa oshodi expressway.

Phone : +(234-1)7901401-8

Fax :(234-1)4529461, (234-1)4529469

Address : Km 32, Lagos-Badagry Expressway, Agbara Industrial Estate, Agbara, Ogun State, Nigeria.

Phone : (01)-7740595, (01)-7749178, (01)-7901409, (01)-7901410

Fax : 234-1-5559865.

Phamatex Industries Limited

Address : Marble House, 1, Crystal Glass Close, Amuwo Odofin Industrial Estate, Lagos State, Nigeria.

Phone : +234-1-862909, 0803-218-8256

Mopson Pharmaceuticals Limited

Address : 47, Osolo Way, Ajao Estate, Isolo, P.O. Box 491, Yaba, Lagos.

Phone : +2348022900833, +2348022902176, +2348025013000

Biopharma Nigeria Limited

Address : 10 Palace Road, Odogunya, Ikorodu, Lagos State.

Abumec Pharmaceuticals Ltd

Address : 7 Ligari Road, Sabon Tasha, Kaduna, Kaduna State.

Phone : 08137329224, 08101065094

AC Drugs Limited

Address : 4, Alor Road, Edward Nnaji Layout, Abakpa Nike, Enugu State.

Phone : +2348033464134

Website : click here

Bond Chemical Industries Limited

Head Office

Address : Adesakin Layout, off Iwo Road, Awe, Oyo State.

Lagos Office

Address : 22, Alafia Street, Off Isolo Road, Mushin, Lagos, Nigeria.

Phone : +234-(0)705-439-4224

Multi-Bond Ventures Limited

Address : Oke-odofin Road, Gbodooya, Awe, Oyo State, Nigeria.

Phone : +234-(0)705-439-4227

Skg Pharma Limited

Address : 7/9 Sapara Street, off Oba-Akran Avenue, Ikeja, Lagos.

Phone : +234-1-4962718, 4961856, 4961745

Stride Vital Nig. Limited

Address : Plot 2, Ladipo Oluwole Street, Off Oba Akran Ave. Ikeja, Lagos

Phone : +234-1-2673309, 2673303, 2673304

Surelife Pharmaceutical Industries Limited

Address : No. 1 S.I Onyia Close by Factory Road, Okwe, Asaba, Delta State.

Swiss Pharma Nigeria Limited

Address : 5, Dopemu Road, Agege, Lagos, Nigeria.

Phone : +234-1-9420543-4, 4921100, 4923444

Therapeutic Laboratories Nigeria Limited

Address : 372, Ikorodu Road, Mende Maryland, Ikeja, Lagos.

Phone : +234-1-4973068, 4934445

Tisco Industries Limited

Address : Plot 1-18, Block P, State Industrial Layout, Ilesha Road, Akure.

Phone : +234-803-320-4545, 0806-363-1474

Description of some of the top pharmaceutical companies in Nigeria

Below is a better insight into some of these pharma companies in Nigeria;

Juhel Nigeria Limited is among the best pharmaceutical companies in Nigeria, founded in 1987.

They manufacture a wide range of pharmaceutical products, from oral to intravenous medicines to over 100 Pharmaceutical products.

The pharmaceutical manufacturing division of the company operates in two locations. The Oral Medicine Manufacturing Plant in Emene, Enugu State, and the Parenteral Medicine Manufacturing Plant in Awka, Anambra State.

They are not only one of the largest Pharmaceutical Drug manufacturing companies in Nigeria, they also remain the largest manufacturer of high-quality blow-fill-seal aseptically manufactured intravenous medicines in West Africa.

Address: 35 Nkwubor Road Emene Enugu State Nigeria

May & Baker, Nigeria Plc was founded on September 4, 1944, as Nigeria’s first pharmaceutical company. It has its origin in England, the United Kingdom wherein in 1834, three chemists founded Grimwade, May & Pickett, a  firm for manufacturing chemicals for pharmaceutical products.

In Nigeria, the company started as May & Baker (West Africa) Limited at 17A Tinubu Street, Lagos in 1944, a trading outpost to serve the West Coast of Africa.

The company relocated to its present site at Ikeja, Lagos state during the Nigerian civil war. In 1976, it built its factory at Ikeja where it began local manufacturing of pharmaceuticals.  That same year it changed from May & Baker (West Africa) Limited to May & Baker Nigeria Limited

In 1979, following the indigenization decree which required that foreign interests in companies operating in Nigeria be of a minor nature, May & Baker, United Kingdom relinquished 60 percent of its equity holding in May & Baker Nigeria to Nigerians while retaining 40 percent.

May & Baker Nigeria Limited became a publicly quoted company following its listing by introduction on the Nigerian Stock Exchange on November 10, 1994, and became May & Baker Nigeria Plc.

Address : 3,5 Sapara street Lagos Nigeria

They are among the first soft gelatin products producers in Nigeria with an optimum production capacity of over 50 million capsules/month.

Krishat Pharma Industries Ltd is a pharmaceutical drug manufacturing company in Ibadan, Oyo state headquartered in Lagos.

For about a decade now, the company has been developing and manufacturing pharmaceutical products in Nigeria and selling and distributing these in over 50 different locations in the West-African region.

Address: 9 Kilometer, Old Lagos Road Podo Ibadan, Oyo State, Nigeria.

This is among the best pharmaceutical companies in Nigeria founded in 2004 to fulfill a need in the marketplace for effective service that could provide in-depth, health products to assist clients through the development of corporate, R&D, manufacturing of branded or generic health product development strategies.

Since its establishment, New Divine Favour Pharmaceuticals Ltd has been successful at creating extra profit opportunities for pharmacists throughout the end markets where they operate.

Their product range includes major branded and generic pharmaceutical products that are all approved by NAFDAC.

Address: N0.7 New Divine Street Adegbe layout, Akuzor Rd, Nkpor

This pharma company was registered on 15 January 1992. It is a trusted name in the Nigerian drug industry.

Address : 26Nawfia Street, Omagba Layout Phase, Onitsha

Dana is a group of companies in Nigeria with a focus on different aspects of life with the philosophy of leading by example. Through their quality products, they strive to hold up that philosophy.

In 2003, this group also ventured into pharmaceuticals to make sure that pharma products are made accessible and affordable.

Address: KM 4, Apapa-Oshodi Expressway Ijesha, Lagos, Nigeria

This is among the top pharmaceutical companies in Nigeria founded in 1954 and formerly known as Glaxo Nigeria Plc, the company changed its name to Evans Medical Plc in 1994.

Evans Medical Plc is a consumer and pharmaceutical company in Nigeria that manufactures and sells a range of over-the-counter, prescriptive pharmaceutical products and nutraceuticals (health) products.

The company produces products for the prevention and/or treatment of malaria, infections, asthma, ulcers, hypertension, diabetes, colds and flu, and erectile dysfunction.

Address: Plot 6, Abimbola Way Isolo, P.M.B. 1120 Apapa Lagos Nigeria

Phamatex Nigeria Limited was incorporated in Nigeria as a private limited company on the 24th day of January 1994.

Since its establishment, the company had improved in several sectors following the devoted workers that learn daily to give you the best pharm product.

The company is engaged in the importation and marketing of pharmaceutical products in Nigeria. It is the “exclusive agent” to HOVID Sdn Bhd, a revered company name in the drug manufacturing industry.

Mopson Pharmaceutical Limited develops, produces, and markets drugs licensed for use as medications. They are makers of both ethical and generic medications.

The company’s products are all registered with the National Agency for Food and Drugs Administration Control (NAFDAC) in compliance with the statutory regulation.

Address: 47, Osolo Way, Ajao Estate, Isolo, P.O. Box 491, Yaba, Lagos

Biopharma is a wholly private indigenous pharmaceutical manufacturing company incorporated in Nigeria in 2005 for manufacturing high-quality pharmaceutical products and medical consumables.

They had their pre-production inspection with Nafdac in 2009 after having been duly registered with all relevant government supervisory agencies and organs like NAFDAC and the Pharmacist Council of Nigeria (PCN). By 2014, they scaled up production as an established pharmaceutical manufacturing company.

The company has since attracted scholars, institutions, partners, and research facilities.

Address: 10 Palace Rd, Ikorodu

Conclusion on the pharmaceutical companies in Nigeria

The list of the best pharmaceutical companies in Nigeria is essential for researchers and investors. These companies work to the best of their abilities to make sure that effective and efficient pharmaceutical products are in circulation in Nigeria and West Africa at large.

It is also important to note that the list is in no order of ranking and every company listed has accreditation and the required licenses for operation.

Recommendation

Requirements to open a Pharmacy

41 pharmaceutical companies in South Carolina

40 pharmaceutical companies in Utah

Biggest Pharmaceutical companies in Maine 

40 pharmaceutical companies in Alabama

Chibueze Uchegbu is a certified medical physiologist with a great passion for healthy living.

One comment

• Pingback: List Of Pharmaceutical Distributors In Nigeria? Best 61 Answer

Leave a Reply Cancel reply

You must be logged in to post a comment.

Privacy Overview

• " target="_blank">

Nigeria Pharmaceutical Market Analysis

The sad thing is the majority of people have no clue about what they truly want. They have no clarity. When asked the question

This report presents a strategic analysis of the Nigeria Pharmaceutical Market and a forecast for its development in the medium and long term. It provides a broad overview of the market dynamics, trends and insights, growth drivers and restraints, segmentation, competitive landscape, healthcare policies and regulatory framework, reimbursement scenario, challenges and future outlook. This is one of the most comprehensive reports about the Nigeria Pharmaceutical Market, offering unmatched value, accuracy and expert insights.

• Report Summary
• Table of Contents
• Segmentation
• Methodology
• Request Sample Report

Nigeria Pharmaceutical Market Executive Summary

The pharmaceutical landscape has undergone a massive transformation with the emergence of new technologies, and cost-effective, and more efficient manufacturing approaches. Constant progress in personalized medicine has opened up numerous possibilities to target different health maladies and allowed the development of patient-centric models. This progress results in a shift from large batches to smaller batches for the development of complex medicines and autologous patient-centric treatments.

Market Size and Key Findings

The Nigeria Pharmaceutical Market size is at around US $ xx Bn in 2021 and is projected to reach US $ xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period.

Nigeria Pharmaceutical Market Size (In USD Bn)

(2021-2030F)

Market Dynamics

Market Growth Drivers Analysis

A rise in drug approvals by regulatory bodies is expected to fuel drug manufacturing procedures. The growth in the approvals of pediatric medicine boosts the growth.

Competitive Landscape

Key Players

Major players in Pharmaceutical Market are F. Hoffmann-La Roche Ltd.; Novartis AG; GlaxoSmithKline plc; Pfizer, Inc.; Merck & Co., Inc.; AstraZeneca; Johnson & Johnson; Sanofi SA; Eli Lilly and Company; AbbVie, Inc.; Sun Pharmaceutical Industries Ltd.; Novo Nordisk A/S; Takeda Pharmaceuticals, Inc.; Cipla Limited; Bristol Myers Squibb Company; Gilead Sciences, Inc.

1. Executive Summary 1.1 Disease Overview 1.2 Global Scenario 1.3 Country Overview 1.4 Healthcare Scenario in Country 1.5 Patient Journey 1.6 Health Insurance Coverage in Country 1.7 Active Pharmaceutical Ingredient (API) 1.8 Recent Developments in the Country

2. Market Size and Forecasting 2.1 Epidemiology of Disease 2.2 Market Size (With Excel & Methodology) 2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics 3.1 Market Drivers 3.2 Market Restraints

4. Competitive Landscape 4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company 4.2.1.1 Overview 4.2.1.2 Product Applications and Services 4.2.1.3 Recent Developments 4.2.1.4 Partnerships Ecosystem 4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario 5.1 Reimbursement Regulation 5.2 Reimbursement Process for Diagnosis 5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Nigeria Pharmaceutical Market Segmentation

Molecule Type (Revenue, USD Billion):

In the pharmaceutical market, small molecule drugs account for the major part of the total Nigeria drug sales.

• Biologics & Biosimilars (Large Molecules)
• Conventional Drugs (Small Molecules)

Drug Development Type (Revenue, USD Billion):

Several benefits associated with outsourcing operations are expected to drive the segment growth at a lucrative pace over the coming years. Outsourced services minimize investments, reduce drug development & overall costs, increase the efficiency of manufacturing procedures, and easily comply with different regulatory norms.

Formulation (Revenue, USD Billion):

• Suspensions
• Other Formulations

Route of administration (Revenue, USD Billion):

• Inhalations
• Other Routes of Administration

Therapy area (Revenue, USD Billion):

• Cardiovascular Diseases (CVDs)
• Respiratory Diseases
• Other Diseases

Prescription (Revenue, USD Billion):

• Prescription Medicines
• OTC Medicines

Age group (Revenue, USD Billion):

• Children & Adolescents

Sales Channel (Revenue, USD Billion):

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.​

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

• Analyzing historical proprietary data collected from multiple projects.
• Regularly updating our existing data sets with new findings and trends.
• Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

• Searching through academic conferences, published research, citations, and social media platforms
• Collecting and compiling diverse data to build a comprehensive and detailed database
• Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

• Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
• Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
• Continuously refreshing our database to ensure that the information remains current and reliable.
• Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

• Merging historical data from secondary research with real-time data from primary research.
• Conducting thorough data validation and cleansing to remove inconsistencies and errors.
• Organizing data into a structured format that is easily accessible and usable for various applications.
• Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

To request a free sample copy of this report, please complete the form below.

We value your inquiry and offer free customization with every report to fulfil your exact research needs.

Related reports (by category)

China Melanoma Drugs Market Analysis

Brazil Infectious Wound Care Management Market Analysis

Vietnam Heart Failure Drugs Market Analysis

Spain HIV Therapeutics Market Analysis

Related reports (by geography).

Nigeria Connected Healthcare Market Analysis

Nigeria Radiotherapy Market Analysis

Nigeria Antifungal Drugs Market Analysis

Nigeria Blockchain Technology in Healthcare Market Analysis

Kindly fill in the following details. The report will be mailed to you.

Subscribe to our newsletter, need assistance please fill the form.

Already have an Account? SignIn

Create an Account? SignUp

Forgot Password

Nigerian Informer

Top 10 Pharmaceutical Companies In Nigeria (2024)

The need and importance of pharmacists and pharmaceutical companies in any nation cannot be overemphasized. What are the top pharmaceutical companies in Nigeria? Get this information in a bit.

Before now, Nigeria rely so much on foreign pharmaceutical companies to take care of its drugs needs and drug research.

Time has changed, with more up springs of indigenous pharmaceutical companies in Nigeria.

This write up is about the best pharmaceutical companies to work for in Nigeria.

The good news is that these indigenous pharmaceutical companies are of international standards and can compete with its counterparts all over the globe.

Some of these top pharmaceutical companies had aided both in research and drugs production.

One of major benefits of emergence of some of these pharmaceutical companies in Nigeria is it curtailed heavy reliance on foreign pharmaceutical companies and reduce the cost of drugs.

In this post, we will be list top pharmaceutical companies in Nigeria including those owned by Nigerians and those owed by foreigners.

This post will be of high significance to pharmacy students and graduates who are on look out to join a high performing pharmaceutical company.

Best Pharmaceutical Companies In Nigeria

These is the list of top renowned Nigeria’s pharmaceutical companies ranked as the best in the country.

Emzor Pharmaceutical

Emzor pharmaceutical is standing as the best pharmaceutical company in Nigeria with its very popular paracetamol drug.

Emzor Pharmaceutical is one of Nigerian’s indigenous pharmaceutical firms founded in 1984 by Dr. Stella C Okoli.

The company is headquartered in Lagos and renowned for production and manufacturing of high-quality medical consumables. One of its most popular products is the Emzor paracetamol.

Neros Pharmaceutical

Neros Pharmaceutical is another Nigerian pharmaceutical company that is doing great in pharmaceutical research and production.

The firm owned by Anambra State born billionaire, Dr. Polycarp Emenike was launched in 1986 and headquartered in Lagos Nigeria.

The firm is renowned for some top pharmaceutical products in Anti Malaria, Anti Diabetes, Anti-Bacterial etc. They also represent some top international pharmaceutical companies in Nigeria.

Swiss Pharma Nigeria Limited

Swipha as popularly called is one of top pharmaceutical firms in Nigeria delivering high quality pharmaceutical products.

The company also distributes pharmaceutical products for government, non- governmental organizations and parastatals in Nigeria.

Swiss pharma Nigeria Limited is one of the highest paying pharmaceutical companies in Nigeria. Sales representatives at Swiss pharma are paid around N170,000 monthly.

Fidson Healthcare

Since its emergence in 1995, Fidson Healthcare has been in fore front of manufacturing pharmaceutical consumables of international standards.

One of its popular products is Astymin. The company is located at 268, Ikorodu Road, Obanikoro, Lagos Nigeria.

GlaxoSmithKline Nigeria

A global health care firm that prides itself on production and manufacturing of pharmaceutical consumables and vaccines.

Some Of their top products is Sensodyne tooth paste and Panadol Extra. They aspire to keep people live healthier and longer.

May & Baker Nigeria PLC

May and Baker Nigeria is regarded as the country’s first indigenous pharmaceutical company. It was founded in 1944, though its origin could be traced to England in United Kingdom.

The pharmaceutical firm has been at the top of production and distribution of top pharmaceutical products. The company aspire to be a leading health care brand in sub Saharan Africa.

New Height Pharmaceutical

New Height Pharmaceutical is a firm consisting of world class pharmacists and health care professionals who are into pharmaceutical distribution, marketing and wholesales within Nigeria.

The company has been in the business for over 15 years and has recorded a tremendous success in what they do.

Juhel Pharmaceutical

Juhel Pharmaceutical is another top indigenous pharmaceutical company in Nigeria founded in 1987 by Anambra State born pharmacist Dr. Eric Okoye.

The firm is into production and manufacturing of both oral and intravenous medicines. It operates two locations at Awka and Enugu.

Chemiron International Limited

Formerly known as Chemech Laboratories Nigeria limited, Chemiron was established in the year 1987.The company had been delivering quality health care product through research for over 30 years.

Mopson Pharmaceutical Limited

Mopson pharmaceutical had been producing top quality Multi-vitamins, Asmalyn, Cough Syrup for health care of Nigerians and Africans.

The company was founded in 1977 and is headquartered in Lagos State Nigeria. It is one of Nigerian’s reputable pharmaceutical firms.

Nemel Pharmaceutical Limited

Nemel Pharmaceutical Limited is one of the best pharmaceutical companies to work with in Nigeria.

Nemel Pharmaceutical Limited an integrated research based company that is producing a range of quality affordable generic and OTC (Over the counter) drugs, trusted by healthcare professionals and patients across the country.

The pharma company aim to improve the quality of health across the world.

The company was founded in 2001 and has its head office located at Emene and a branch at Trans-Ekulu, Enugu, the capital city of Enugu, South east Nigeria.

AGARY Pharmaceutical Limited

AGARY Pharmaceutical Limited prides themselves as Nigeria’s number one company in hospital consumables.

The pharmaceutical company was established in 1993 as a national and regional marketing company that specializes in the importation and distribution of medical and hospital consumables.

Sewell Pharmaceuticals ltd

Sewell Pharmaceuticals Limited is a Pharmaceutical Manufacturing company located in Ota, Ogun State, Nigeria.

It is one of the highly regarded and respected pharmaceutical companies in Nigeria.

2 thoughts on “Top 10 Pharmaceutical Companies In Nigeria (2024)”

Well-done. A good research. Keep it up.

thank you matts!

Leave a Comment Cancel reply

Save my name, email, and website in this browser for the next time I comment.

• Discounted Hotels
• 2024 Agenda
• 2024 Speakers
• Industry News

EXHIBIT, CONNECT, GROW: YOUR GATEWAY TO WEST AFRICA’S LUCRATIVE PHARMACEUTICAL MARKET Book A Stand

Book A Stand

Market Overview

The nigerian pharmaceutical market is growing at over 9% annually..

The Nigerian pharmaceutical market is a large and growing market with significant potential for growth. Over 70% of medicines in Nigeria are imported, with medicines accounting for perhaps $4 billion within Nigeria’s total healthcare spend of $10 billion. Out-of-pocket expenditure can be as high as 62% of total healthcare expenditure, mainly due to limited access to health insurance.

However, in May 2022, the National Government of Nigeria signed a new National Health Insurance Act which mandates health insurance for workers and all Nigerians. As this is introduced over the next few years, there will be significant changes in the ways medicines are used and acquired.

Medicines supply in Nigeria is available through 9,000 hospitals and clinics, 4,500 pharmacies and the estimated 100,000 Patent and Proprietary Medicine Vendors (PPMVs). These are licensed to sell over-the-counter medicines, but are the main source of medicines for much of the population. The Online pharmacy business is also starting to take off.

The local pharmaceutical industry, which has more than 130 companies, tends to focus on meeting the need for medicines on the essential medicines list, and of which many are available for OTC purchase.

Analgesics, antirheumatics and antipyretics account for 25 per cent of the local industry, with antibiotics and ant-infectives, multivitamins and tonics, and antimalarials each accounting for around 15 per cent. In addition to malaria, HIV is another significant health condition in Nigeria. Quality of medicines has been a concern with counterfeits/unlicensed products accounting for a major part of the medicines in the marketplace. This is being addressed by initiatives including more stringent registration, compliance and documentation as well as the use of technologies such as RFID and track and trace to help ensure integrity of supply.

Distribution and wholesaling is also getting better organised with a national representative body having been established in 2021. However, historically there has been a fractured import and supply chain with hundreds of small businesses across Nigeria doing much of this work, although the national chains are building in strength.

One important aspect to consider about the Nigerian pharma market is the population is seeing strong growth. The current estimate of 220 million is expected to reach 262 million by 2030, and become the planet’s fifth largest population of 400 million by 2050.

Did you know?

Nigeria imports 70 per cent of its medicines

The Nigerian pharmaceutical market value is in the order of $4 billion

Nigeria is about to extend mandatory health insurance provision across the whole population

The Nigerian Pharmaceutical Industry is estimated to grow at a CAGR of 9.1%

Nigeria has about 200 active manufacturing and packaging firms in the pharma industry

Nigeria’s pharmaceutical market splits into OTC sector (43.1%), generic sector (38.9%), patented 12%

With counterfeit medicines so prevalent, it is estimated that only 30% of Nigerians have access to authenticated medicines

The local pharmaceutical manufacturing industry is currently able to meet 25 per cent of local demand

GET IN TOUCH TODAY!

Pharma West Africa Conference will host numerous panel discussions, live product demonstrations and master classes

Brochure Download

Click here to download a copy of the 2024 Post Show Report & 2023 Show Brochure.

Visitor Pre-Register

Pre register your visit today and see what the world of Pharma West Africa has to offer your business & how it can make an impact in the African market

OTC Pharmaceuticals - Nigeria

• The OTC Pharmaceuticals market in Nigeria is projected to generate a revenue of US$1,206.00m in 2024.
• This market is expected to experience an annual growth rate of 9.82% (CAGR 2024-2029).
• The largest market within the market is Vitamins & Minerals, which is estimated to have a market volume of US$526.20m in 2024.
• When compared globally, the in the United States leads in revenue generation with US$41,240.00m in 2024.
• In terms of per capita revenue, in Nigeria is expected to generate US$5.26 per person in 2024.
• Furthermore, it is projected that 8.10% of the total revenue in the OTC Pharmaceuticals market will be generated through online sales by 2024.
• Nigeria's OTC Pharmaceuticals market is seeing a rise in demand for traditional herbal remedies.

Key regions: United States , China , Germany , Japan , Europe

Definition: The Over-the-Counter Pharmaceuticals market includes non-prescription medications, treatments, and healthcare products that are available directly to consumers without a prescription from a licensed healthcare professional. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere such as supermarkets, and online retailers. Sales by hospitals are not included.

Structure: The market is subdivided into Analgesics, Cold and Cough Remedies, Digestives and Intestinal Remedies, Skin Treatment, Vitamins and Minerals, Hand Sanitizer, Eye care, Sleep aids, Wound care, and Other OTC Pharmaceuticals. The Analgesics market covers non-prescription pain-relief medications which help to relief aches, pains and fevers. Cold & Cough market covers non-prescription remedies aimed at relieving nasal congestion, coughing, sore throat, and related cold discomforts. The Digestives and Intestinal Remedies market encompasses non-prescription products designed to alleviate symptoms related to digestive discomfort and intestinal issues. The Skin Treatment market includes non-prescription medications formulated to address various dermatological concerns such as acne, eczema and dryness. The Vitamins and Minerals market comprises non-prescription dietary supplements containing essential nutrients such as vitamins and minerals. The Hand sanitizer market covers sanitizing products which are applied on hands to effectively reduce the presence of bacteria and viruses. The Eye Care market covers non-prescription products to address common eye-related discomforts such as dryness, irritation or redness. The Sleep Aids market covers non-prescription products designed to promote relaxation, alleviate insomnia, and improve sleep quality. The Wound Care market includes non-prescription products designed to facilitate wound healing and prevent infection.

Additional information: OTC Pharmaceuticals comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included. For more information on the data displayed, use the info button next to the boxes.

• Natural and synthetic agents
• Analgesics (e.g. Asprin, Paracetamol)
• Cough & Cold remedies (e.g. Vicks VapoRub)
• Vitamins and Minerals
• Skin treatment products

out-of-scope

• Prescription medicines
• Homeopathic remedies

OTC Pharmaceuticals

• Cold & Cough Remedies
• Digestives & Intestinal Remedies
• Skin Treatment
• Vitamins & Minerals
• Hand Sanitizer
• Other OTC Pharmaceuticals
• Analyst Opinion

The OTC Pharmaceuticals market in Nigeria is experiencing significant growth due to several factors. Customer preferences for self-medication and convenience, along with the increasing prevalence of non-communicable diseases, are driving the demand for over-the-counter (OTC) medicines in the country. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the development of the market.Customer preferences in Nigeria are shifting towards self-medication and convenience. Consumers are becoming more proactive in managing their health and are seeking accessible and affordable healthcare solutions. OTC medicines provide a convenient option for individuals to treat common ailments without the need for a prescription or a visit to a healthcare professional. This preference for self-medication is driving the demand for OTC Pharmaceuticals in Nigeria.The increasing prevalence of non-communicable diseases, such as hypertension, diabetes, and respiratory conditions, is also fueling the growth of the OTC Pharmaceuticals market in Nigeria. These chronic diseases require long-term management and often require medication to control symptoms and prevent complications. OTC medicines that address these conditions, such as antihypertensives, antidiabetics, and respiratory medications, are in high demand. As the prevalence of these diseases continues to rise, the demand for OTC Pharmaceuticals is expected to grow.Local special circumstances in Nigeria, such as limited access to healthcare facilities and a shortage of healthcare professionals, are contributing to the development of the OTC Pharmaceuticals market. Many regions in Nigeria lack adequate healthcare infrastructure, making it difficult for individuals to access healthcare services. OTC medicines provide a convenient and accessible solution for individuals who are unable to visit a healthcare facility. Additionally, the shortage of healthcare professionals in the country has led to increased reliance on self-medication and OTC medicines.Underlying macroeconomic factors, such as population growth, urbanization, and increasing disposable incomes, are also driving the growth of the OTC Pharmaceuticals market in Nigeria. The country has a large and rapidly growing population, which creates a significant market for healthcare products. Urbanization is also on the rise, leading to increased demand for OTC medicines in cities and urban areas. Furthermore, as disposable incomes increase, individuals have more purchasing power to spend on healthcare products, including OTC Pharmaceuticals.In conclusion, the OTC Pharmaceuticals market in Nigeria is developing due to customer preferences for self-medication and convenience, the increasing prevalence of non-communicable diseases, local special circumstances, and underlying macroeconomic factors. As these factors continue to drive the demand for OTC medicines, the market is expected to experience further growth in the coming years.

• Methodology

Data coverage:

Modeling approach / Market size:

Additional notes:

• Key Players
• Sales Channels
• Global Comparison
• Key Market Indicators

Mon - Fri, 9am - 6pm (EST)

Mon - Fri, 9am - 5pm (SGT)

Mon - Fri, 10:00am - 6:00pm (JST)

Mon - Fri, 9:30am - 5pm (GMT)

• Get immediate access to all Market Insights, reports & statistics
• Download data in multiple formats for collaborative research
• Includes usage & publication rights for sharing data externally

• Saturday, September 14, 2024

© 2023 - Businessday NG. All Rights Reserved.

• Advertise With Us

• Pharmaceutical Technology
• Clinical Pharmacy
• Pharmaceutical Microbiology
• Pharmacology
• Pharmaceutics
• Pharmacy Management
• Pharma Companies
• Pharmaceutical Machines
• Questions and Answers
• PHARMA MARKETPLACE
• Pharma Marketplace

Pharmaceutical Industries in Nigeria: Challenges and Prospects

The pharma industry traces its root from two sources; the first of these were local apothecaries that expanded from their traditional role of distributing botanical drugs such as quinine and morphine to wholesale manufacture in the mid 19th century. The function of the industry is to research, develop, produce and market drugs or pharmaceuticals for use as medications. Its aim is to produce safe and effective medicines with cost efficiency and productivity to the manufacturer. The potential for national or local production of quality assured, low-cost pharmaceuticals to meet national needs is an issue that has been debated and discussed for several decades. The justifications or challenges that initiated the need for local production of pharmaceuticals include;

• The problem of lack of ready accessibility to available pharmaceuticals
• High prices for imported pharmaceuticals
• Poor quality of some pharmaceuticals

These challenges have prompted public and political interests in considering local production of pharmaceuticals with the aim to

• Promote self-sufficiency
• Achieve independence from international suppliers
• Develop local industrial capacity
• Produce foreign exchange through exportation of domestically manufactured medicines and
• Create new jobs.

Until the middle of the 20th century, most developing countries like Nigeria only imported finished pharmaceutical dosage forms such as suspensions, syrups, tablets, creams, ointments, suppositories, powders, capsules, and parenteral preparations all of which were imported by either multinational drug companies, government or some wealthy indigenous private entrepreneurs. Serious attention was not paid to the local production of raw materials, dosage forms or processing equipment. However, in recent times, the trend has changed and these are beginning to gain more attention especially the local production of dosage forms and some processing equipment.

Although a large proportion of dosage forms are still being imported or purported to be imported from industrially developed countries like India, China, USA, Europe, Parkistan, Taiwan, Brazil etc., government has also tried to encourage indigenous investors to move away from the sole importation of finished goods to the manufacture of simple products. This is an indication that serious effort still needs to be made in order for Nigeria to meet the drug and health needs of her citizens.

• 1 Common features of pharmaceutical industries in Nigeria
• 2 Nature of pharmaceutical industries in Nigeria
• 3.1 Primary production
• 3.2 Secondary production
• 3.3 Tertiary industries
• 4 Cause of genuine drug product shortage in Nigeria
• 5 Challenges faced by pharmaceutical industries in Nigeria
• 6 Prospects

Common features of pharmaceutical industries in Nigeria

Because of the unstable socio-political atmosphere generated by crime and corruption in most developing countries, the economy still tends to show characteristic features of extreme capitalism and is still much consumer-oriented. Therefore, it has been clearly observed that indigenous industries in Nigeria whether pharmaceutical or otherwise have the same characteristics that can be summarized as follows:

• A high percentage of the processed raw materials are imported that is, the industries are secondary types with no primary base.
• Heavy machine and equipment used are mostly manufactured overseas and imported.
• Labour is still very cheap.
• The market is vast due to very high population in Nigeria.
• Highly qualified indigenes, professionals and research experts in universities and research centres are now being recognized and consulted for technical services. Unlike before where foreign technical advisers or experts are often preferred and consulted.

Nature of pharmaceutical industries in Nigeria

According to 1986 world bank report, the local production of drugs in developing countries is unrealistic except in countries with large local market and capacities to produce Active Pharmaceutical Ingredients (APIs) such as Argentina, Brazil, China, Egypt, India, Mexico and Thailand due to economies of scale and technological requirement for the manufacture of drugs. This led to a trend away from the promotion of local pharmaceutical production and laid more emphasis on the quality control of imported pharmaceuticals and licensed generic products manufactured by multinational affiliates. The globalization of the pharma sector and the advent of worldwide public health funding initiatives have led to a more competitive market for generic pharmaceuticals and this has resulted in a significant decrease in the prices of essential medicines.

Reports from a world bank 2005 study, reveal that there are several types of pharmaceutical manufacturers with different business models that operate manufacturing facilities in low- and middle-income countries. They include:

• Subsidiary of large multinational companies that manufacture patent-protected, branded products for local and regional markets.
• Global manufactures of generics that focus on developed markets in the United States, Europe, and large-middle income markets such as India and China. Some also have manufacturing operations in smaller developing countries or joint venture with local manufacturers.
• Generic companies with predominantly national operations that focus on the domestic market with occasional exports into neighbouring countries.
• Small-scale local manufacturers that usually make a limited number of products, including traditional medicines to serve local or regional markets.

In addition, most hospitals repackage medications in smaller, unit dose containers and may compound specialty items, such as creams with special formulations for their own patients and satellite facilities. This type of small-scale production of pharmaceuticals in a hospital pharmacy could include secondary production from existing raw materials that are usually imported and the packaging or repackaging of finished dosage forms into smaller dispensing packs and course-of- therapy packages.

Most of these manufacturers vary widely in their scope of operations/ production.

Levels of pharmaceutical manufacturing industries

There are three different levels of production that pharmaceutical manufacturing industries can operate and they include the primary, secondary and tertiary levels.

Primary production

Secondary production.

Secondary production is the large-scale processing of finished dosage form such as tablets, capsules and injections, from raw materials or intermediate products, often from both local and imported sources. Production of sterile preparations (such as injections, antibiotics, and intravenous fluids) and nonsterile preparations (such as oral solids, liquids and topical preparations) can be carried out with either locally produced or imported packaging materials. Although less technically demanding than primary production, this stage must be completed to precise specifications. It requires modern, high-speed, precision equipment to produce pills, capsules, and liquids, often in large quantities and at very low unit costs, which are targets that small facilities find difficult to achieve, especially while also meeting international GMP standards. They can be seen as factories registered by law to formulate and produce various dosage forms. The secondary industries depend entirely on the primary industries for their drugs and excipient raw material inputs. Similarly, both the primary and the secondary industries cannot function without the ancillary or support industries, i.e, the tertiary industries such as the engineering/ tool industries, paper, plastic, glass and metallic packaging unit industries.

Tertiary industries

These include packaging and labelling finished products from primary and secondary sources into bulk packs, smaller dispensing packets, bottles, or course of therapy units for individual use. The initial quality of the pharmaceutical product established in the earlier phases of production must be maintained in the tertiary and final step, so ensuring high-quality standards through rigorous operational procedures is important. Tertiary production also addresses specific local needs for certain formulations, labelling, and packaging.

In addition to the above levels of production, pharmaceutical manufacturing industries can also be categorized into small, medium and large scale based on the overall production output. The small-scale industries are owned by private individuals while the medium scale is owned by a group of persons or shareholders. The so-called large scale industries are foreign controlled and made up of multinational corporations.

Cause of genuine drug product shortage in Nigeria

The major cause of genuine drug product shortage can be attributed to the following:

• Short supply of highly trained production pharmacy personnel.
• Lack of primary industries producing pharmaceutical grade raw materials in commercial quantities.
• Import syndrome and insufficient interest in local drug research and manufacturing.
• Discouragement from multinational companies whose parent associated companies overseas dictate the cost of raw materials and equipment used for production and quality control of dosage forms in poorer countries.
• Differential taxation policies of pharmaceutical materials both imported and local. This significantly affects the production decisions. If the public- policy goal is to create a level playing ground for producer decisions on what and where to produce, there should be no difference in the tax treatment of raw materials, both active and inactive ingredients, and finished products. Heavy taxation of packaging materials will deter local industrial development and lead to shortage.

Challenges faced by pharmaceutical industries in Nigeria

Wholesale importation of finished products, as well as retail pharmacy business, has been a flourishing business in Nigeria. Of recent, there has been a parallel increase in the local drug manufacturing. However, the former still flourishes more than the later due to the following factors:

• Very high demand of industrial conditions and standards required for both raw materials, dosage form processing, equipment and processing environment.
• Control of global drug business by multinational cooperations that have overcome most of their initial development problems.
• Unfair competition by imported products and multinationals.
• The need to standardise many drugs of herbal origin now circulating in Nigeria and Africa.
• Inability of developing countries to tap the research results from their basic or applied scientists lead to brain drain to foreign laboratories.
• There is still the inability on the part of the government to check illegal importation, manufacture and sale of fake, adulterated and substandard expired goods due to dishonest drug dealers and some corrupt government officials. The recent 100% check of containers has greatly reduced and discouraged the importation of fake, adulterated and substandard expired goods through ports of entry.
• Lack of effective research and development due to poor research support from the government and private companies.
• Unfair government policies
• Poor access to foreign exchange for sourcing/ import of raw materials.
• Spiralling cost of business
• Brain drain that is, the ability to find experienced and skilled staff, particularly scientists and engineers.
• Poor marketing and administrative structure.
• Poor or inexistent continuity plan beyond the CEO.

In addition to human resources, the reliability of water, power and environmental controls are central to the production decisions. If materials, equipment and spare parts are not available, items will have to be imported from countries with established pharmaceutical industries.

• Small-scale indigenous private or government manufacturing labs and research institutes are now beginning to compete favourably with the foreign-based companies even though we still depend on the imported raw materials and equipment.
• With the ongoing training of more pharmacists in the country, enlightenment of the citizens, pharmacists, politicians and licensed patent medicine vendor through workshops and mandatory continuing education programmes, awareness has been created and now there is more reliance on good quality products including those manufactured in Nigeria.
• There are now well qualified and registered pharmacists acting as consultants in drug product analysis and quality assurance. These analysts certify the genuineness or otherwise of locally manufactured or imported products.
• There is also a number of growing local industries that manufacture good plastic containers, starches for non-internal preparations, gums etc., and soon local manufacturers will no longer import most drug excipients. Many developing countries moved from mere packaging of finished products into the production of excipient raw materials formulation of dosage forms in commercial quantities for internal use and exports.

In conclusion, it is very clear that pharmaceutical industries in Nigeria are up against several constraints. In other to enable these industries to thrive and compete favourably with those in developed countries of the world, the government has a great role to play in infrastructural development, stable policies, security, enabling environment as well as developing the money and capital markets for easy access to medium and long-term funds.

• The World Bank annual report 1986  
• http://documents.worldbank.org/Pharma.pdf
• http://apps.who.int/medicinedocs.pdf

Related Keywords: future of pharmaceutical industry in Nigeria, profitability of pharmaceutical companies in Nigeria, Nigeria pharmaceutical industry overview 2017, growth of pharmaceutical industry in Nigeria, Nigeria pharmaceutical market share and growth,  Indian pharmaceutical companies in Nigeria, challenges of pharmaceutical industry in Nigeria, baseline assessment of the Nigerian pharmaceutical sector

Advantages and Disadvantages of Wet Granulation

NAFDAC State Offices and Contact Details

September 5, 2024

September 4, 2024

July 18, 2024

May 20, 2024

Comments 10

I thank you for this explanatory post. It helped me a lot. More power, guys.

We are happy you found it useful. Don’t forget to share the post.

Thank you for this research, permit me to make reference of it.

You are welcome. You can make reference to it.

Thank you appreciate.

You’re welcome

Thanks for this piece. It’s informative. Can we have a private discussion?

Yes, we can. You can contact me by using our contact us page.

This is an excellent insight into the possibiliites and challenges in the Nigerian Pharmacetical sector. I truly enjoyed reading through. More grease to your elbow. However, I wished you could compliment this with the level of research already undertaken, but yet to be developed to higher levels of delivery to end users or consumers, along the value chain, specifically by Nigerian Research Institutions. For sure, Universities engage in primary research and must have done some work in this diection, given the huge potential the market holds. Investments into the sector can only be done if it looks attractive to both local and International Investors.

Thanks, we appreciate it.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

• Cutter Mill
• Preservatives Used In Pharmaceutical Suspensions: Typical Use Levels and Comments
• Routes of Drug Administration: An Overview
• 7 Non-drug Treatment Approaches for Hypertension
• Steps Involved In Sugar Coating
• 15 Quality Attributes for Emulsions
• Liquid Dosage Forms: Pharmaceutical Suspensions
• What are the factors that affect dissolution rate?
• Standards Organisation of Nigeria (SON) State Offices and Contact Details
• What are the challenges faced in oral drug delivery system?

Regulations, Guidelines and Clinical Trials

Important links, submit articles.

• Terms and Conditions
• Privacy Policy

Should sub-Saharan Africa make its own drugs?

With imports comprising as much as 70 to 90 percent of drugs consumed in most countries in sub-Saharan Africa, many governments are considering whether it’s time to promote more local production. Drug imports, including both over-the-counter and prescription drugs, do considerably exceed those into China and India—where comparable populations import around 5 percent and 20 percent, respectively. And it does put strain on government and household budgets and already limited foreign exchanges.

To better understand the realities of promoting local drug production, we undertook a systematic analysis of the current state of the market. The analysis focused on simple, small molecules, such as generic drugs, since the economics and technical challenges would vary for more complex products, such as combination drugs, injectables, and vaccines. We evaluated the costs and benefits of increasing production not only in economic terms but also in their impact on the wider economy and on public health systems. We then compared that to local measures of feasibility, including government will, demand, investment attractiveness, and implementation capacity, especially with respect to quality (Exhibit 1).

The analysis depicts an opportunity that varies from country to country. In some countries, a manufacturing hub is unlikely to be economical. In a half dozen or so others, such a hub could be viable if it can overcome structural obstacles—a relatively small, if growing, market; a global excess of manufacturing capability for some kinds of drugs; unreliable infrastructure; and an underdeveloped talent base. For those countries, a local industry might make drugs modestly more affordable—an important factor in an area where out-of-pocket drug costs can be a significant impediment for all but the most wealthy consumers . It could also improve public health, enhancing access to drugs at a time when the donor programs that have long provided drugs in some countries are facing flat or declining budgets. Even there, however, the effect of local production on jobs and GDP would likely be minimal relative to the size of these economies overall.

Pharmaceutical production in sub-Saharan Africa lags behind comparable regions

Some African countries have a handful of local companies who produce for the domestic market. Most do not—and are currently uncompetitive for local drug production (Exhibit 2). The continent overall has roughly 375 drug makers, most in North Africa, to serve a population of around 1.3 billion people. Those in sub-Saharan Africa are largely clustered in just nine of 46 countries, and they’re mostly small, with operations that do not meet international standards. By comparison, China and India, each with roughly 1.4 billion in population, have as many as 5,000 and 10,500 drug manufacturers, respectively. And the sub-Saharan market’s value is still relatively small, at roughly $14 billion compared with roughly $120 billion overall in China and $19 billion in India. 1 Figures are from 2017. Sources for sub-Saharan Africa: BMI, McKinsey analysis. Sources for China: AESGP, Fitch Solutions, local news sources, NBS, SMEI, Wind Financial Terminal. Sources for India: AIOCD-AWACS, Fitch Solutions, local news sources, OPPI.

In sub-Saharan Africa, only Kenya, Nigeria, and South Africa have a relatively sizable industry, with dozens of companies that produce for their local markets and, in some cases, for export to neighboring countries. Local producers also play in a limited range of the value chain. Almost all of them are drug-product manufacturers—that is, they purchase active pharmaceutical ingredients (APIs) from other manufacturers and formulate them into finished pills, syrups, creams, capsules, and other finished drugs. Up to a hundred manufacturers in sub-Saharan Africa are limited to packaging: purchasing pills and other finished drugs in bulk and repackaging them into consumer-facing packs. Only three—two in South Africa, and one in Ghana—are producing APIs, and none have significant R&D activity.

What’s the value of increased local drug production?

Developing a local drug industry in sub-Saharan Africa would take decades of sustained and careful effort. Examining the value of such an undertaking involves more than the economics of individual-company-level business. Because pharmaceutical products have such wide-ranging effects, country governments and citizens often think about the industry’s impact in broader economic terms, including economic growth and job creation, and in terms of public health, such as access to medicines and preparedness in the event of disease outbreaks. To examine which dimensions really matter, we disaggregated the notion of impact into affordability, health impact, and economic impact. 2 We also considered political impact, but it is difficult to quantify and will vary from country to country.

More affordable drugs

We frequently encounter public-health officials and potential investors who argue variously that locally manufactured drugs would be cheaper once all the costs are factored in—as well as others who take it for granted that it’s cheaper to produce drugs in India than it would be in Africa. The analysis suggests some truth to both arguments: drugs today are cheaper when imported, but with comparable facilities some drugs tomorrow could be cost competitive or even cheaper than imports from India. This is more likely true of basic oral solids than more advanced and larger-molecule drugs.

Consider our modeling of comparable plants producing one common over-the-counter drug, for example. We found that when imported, the drug’s landed price in Ethiopia consists of the manufacturer’s price in India plus a more-than-20-percent markup as a result of freight, duties, and value-added tax (Exhibit 3). If the same drug were manufactured in Ethiopia: the raw materials would still be imported, but the import costs would be lower because of their relatively low value. Adding the local conversion cost due to lower manufacturing efficiency and the producer margin to the total leads to a price that is higher than in India, but the lower transport cost to reach the distributor means that the locally manufactured product is still more affordable at the point of entry into the local supply chain. In fact, for a range of products, including tablets, capsules, and creams, costs for most drugs produced in Ethiopia and Nigeria tend to be about 5 to 15 percent lower than the landed price of imports from India.

For most countries in sub-Saharan Africa today, this is largely a theoretical scenario. With current facilities, costs there today are typically higher because production facilities generally have less capacity and lower utilization rates than plants in India. Moreover, the affordability of drugs also depends on the structure of local supply chains, which differs between regions. Supply chains in anglophone countries of sub-Saharan Africa are more informal than in francophone countries. Markups and pricing are often unregulated in the former and also feature substantial numbers of informal stores.

Improved public health

Increased pharmaceutical manufacturing can affect a population’s health in various ways, such as its access to, awareness of, and availability of needed medicines. It can also impact the systems that regulate quality and safety. These effects will vary country by country because they are influenced heavily by each country’s configuration of the health system and health market. Yet our analysis for Ethiopia and Nigeria highlighted some effects that may be applicable for other countries as well.

Access to medicines, for example, is often limited to outdated drugs because global drug originators, or patent holders, lack incentives to undertake the cumbersome process of registering and promoting all their products for each small African country market. As a result, many African countries still use drugs older than what is recommended by the World Health Organization’s (WHO’s) essential drug list. Local manufacturers often have the incentives and resources to introduce newer generation generics into smaller African markets. In Ethiopia, when one local player became the first in the country to produce a newer-generation antibiotic, the government added it for the first time to the list of products available to public health facilities. In Nigeria, regulations allow local drug manufacturers to also be drug importers. Many of the leading local drug manufacturers are also representatives of global drug originators, and hence have a strong incentive to invest in local drug registration and the introduction of lucrative new products. That said, few markets in Africa are as potentially lucrative as Nigeria. Therefore, we expect the impact of increased local drug manufacturing in most other countries to more closely resemble the economics in Ethiopia than in Nigeria.

Would you like to learn more about our Public Sector Practice ?

Another arena in which we expect increased local drug production to have positive effects is in the regulation and quality assurance of drugs in local African markets. In Ethiopia, for example, the government’s desire to spur local drug manufacturing has come hand in hand with a commitment to strengthen its national drug regulator, the Food, Medicine, and Health Care Administration and Control Authority. The government has also committed to reducing delays in product registration, ferreting out counterfeit drugs, and pushing manufacturers to meet standards required for exports. Overall, Ethiopia is investing ahead of the curve in regulatory capacity. Although its pharma market is only valued at approximately $600 million, its regulator’s budget is $6.6 million, a higher ratio than observed in Brazil, Russia, and Turkey.

Improved economy

Proponents of local drug manufacturing in sub-Saharan Africa often express their argument in economic terms: economic diversification, GDP growth, the impact on the balance of trade, and job creation. However, our analysis suggests that pharmaceuticals would remain a relatively small sector of the overall economy, even assuming significant growth. The effect on annual GDP growth would likely be negligible—on the order of $190 million per year by 2027 for Ethiopia and $230 million per year for Nigeria, over a period when we project annual growth for the two countries could be on the order of $14 billion and $27 billion, respectively.

The largest effect would be on the balance of trade. If Ethiopia and Nigeria were to increase their local share of production from roughly 15 to 20 percent to around 40 to 45 percent, both countries could expect to see their trade balances improve by $150 million to $200 million annually. In Ethiopia, trade imbalances have been a critical issue for several years as the country has dealt with a severe shortage of foreign exchange. A swing of a couple of hundred million dollars in a decade’s time would certainly be welcome. But it would be hard to feel, since it amounts to less than 5 percent of Ethiopia’s projected foreign currency needs—not including the additional capital investments needed to build industrial parks and upgrade national regulators.

An increase in local production would not create many jobs. Modern pharmaceutical plants employ only a few hundred workers. New entrants tend to be even leaner: the two new Chinese entrants into the Ethiopian market, for example, are building more automated production facilities and hence employ only around 200 workers on average. Altogether, the total job creation affected by increased local pharmaceutical production is likely to be on the order of a few thousand jobs at best—even including any impact it has on jobs upstream and downstream, in its suppliers and distributors.

Is it feasible?

The feasibility of building an industry in any country is influenced by both private- and public-sector factors. On the private side, the inherent market dynamics, and the attractiveness of available investments, will determine whether there is a strong business case for putting money into the pharmaceutical sector. These include, for example, whether there’s enough unmet demand to make a sizeable plant competitive and the practicalities of exporting excess production. On the public side, governments have several potential levers to encourage local production. These include local production incentives in national tenders, subsidies and tax breaks, investment in special economic zones, and talent- and skill-building programs. The availability of these levers varies across countries, and individual governments’ attitudes toward the pharmaceutical industry influence their willingness to employ these levers.

Overall, our analysis convinced us that increased local drug production is feasible in about a half dozen sub-Saharan African countries at current and projected demand levels. While only South Africa is currently as attractive to private-sector pharmaceutical investors as Brazil and India, other countries are rapidly improving their investment climate. Each has its own strengths and weaknesses relative to Brazil, China, and India. Some are stronger in areas like logistics, business climate, and tax policies. Others might do well in some areas, such as tax policy, logistics, and technology, but show weaknesses in government and business climate. Still others could quickly become attractive to international investors with continued improvement.

Creating a sustainable pharma sector in sub-Saharan Africa

In those countries where increased local production of pharmaceuticals would be both feasible and have a positive impact, the question is how to do it. Through our research, we have distilled five lessons that could help them do so in a way that contributes most to the health of their people and the well-being of their economies. These include a focus on quality, production capacity (or scale), regional hubs, drug-product formulation, and value-chain effects.

Focus on quality

Regulatory standards and enforcement across sub-Saharan Africa typically lag behind global standards. There are only six companies operating in the region that have achieved WHO prequalification. 3 As of February 2018. The fight against counterfeit, expired, and substandard drugs is improving, but it is still common in some countries in the region.

As sub-Saharan Africa develops its local pharmaceutical industry, it is imperative that countries continuously upgrade their quality standards and enforcement. Beyond saving lives, a stronger regulatory system would allow for a fair and competitive playing field, eliminating low-priced, substandard products from the market. To do so, country leaders may need to commit to ongoing funding for their regulatory agencies in accordance with established global benchmarks or perhaps consider continent-wide efforts such as those in Europe. This would allow regulators to address some of the existing gaps in training, capabilities, and manpower in regulatory oversight and quality control. Another priority should be cultivating and sustaining a healthy pipeline of regulatory talent, since turnover is brisk for many agencies as trained staff quickly leave for private-sector jobs.

Build plants with sufficient production capacity

Any theoretical production-cost advantages that countries in sub-Saharan Africa might enjoy could be outweighed by their lower production capacity and utilization relative to India. Most production in the region today is in small plants with low capacity—plants need to be big enough and have enough capacity to get the benefits of scale economics. And utilization is affected by unreliable infrastructure, frequent power interruptions, and high logistics costs.

At what point would manufacturing plants there become competitive with imports? According to our analysis, production volume—that is, the plant’s capacity times utilization—affects economics and affordability disproportionately more than other commonly cited concerns, such as labor productivity and electricity costs. The cutoff for output depends on product type, but for a tablet-based product it would be around 500 million tablets (Exhibit 4). Smaller plants are unlikely to be competitive with imports, even running at full utilization, and plants operating below the cutoff today may not be sustainable over the long term.

Thus, as old plants get upgraded and new plants get built, companies in sub-Saharan Africa should ensure that they will meet a certain threshold of production while ensuring that there is sufficient market demand to maintain health utilization. Companies should estimate the necessary break point for their specific mix of products and location, and plan their investments accordingly. Country governments might also reconsider incentives to companies that meet competitive levels of production.

Create regional hubs that include smaller countries

Given the minimum production requirements and the fact that there are only a few countries where pharmaceutical manufacturing is feasible, sub-Saharan African countries could work together to encourage a handful of globally competitive industry clusters. These clusters have a better chance of producing affordable, high-quality drugs than if efforts were dissipated across a larger number of subscale investment attempts throughout the continent. With proper regulatory harmonization, smaller countries could experience faster lead times and more responsive supply chains because they could be served by local, and not overseas, suppliers.

What’s next for pharma in emerging markets?

There is already a broader movement to create freer trade across Africa. The newly established Continental Free Trade Area (CFTA) seeks to bring the 55 members of the African Union together. By spring 2018, 44 states had formally joined CFTA. Predating the CFTA, regional economic communities have also been working on removing tariff and nontariff barriers to trade.

Yet these efforts are not enough to enable the creation of regional hubs for pharmaceuticals, since drugs are such a highly specialized product. The African Medicines Regulatory Harmonization effort has yielded noteworthy results, with the East Africa Community countries at the stage of conducting joint assessments and inspections. However, it is still not possible for companies to file a single registration that is recognized by neighboring countries anywhere in sub-Saharan Africa today. Until that happens, no at-scale company can realistically serve multiple countries.

Focus on drug-product formulation, but keep an eye on new technology

Focusing on the right part of the value chain will be critical to the success of a pharma sector in sub-Saharan Africa. APIs today are very scale sensitive and hard to manufacture. Most countries in the region lack the requisite chemicals sector for API production, which our modeling suggests would already be 10 to 15 percent costlier than imports from India. That makes drug-product formulation the better bet, while continuing to import APIs—for now, at least.

Looking ahead, this focus could evolve. New technologies could lower API costs—whether by changing the scale economics needed to keep prices competitive, making manufacturing easier, or improving quality. Indeed, one advantage that sub-Saharan Africa has is the opportunity to adopt cutting-edge technologies without worrying about replacing existing technologies in legacy plants. Some of the most promising technologies on the horizon include improved process chemistry, continuous manufacturing, and modular plant design. Using Ethiopia as an example, employing improved chemical-synthesis processes could reduce costs by approximately 5 to 35 percent, and continuous production could cut costs by another 10 to 25 percent, if the right molecules are chosen for production. In addition, modular plant design could speed construction of these plants and ensure tighter quality assurance.

Upgrade the value chain

Though the focus may be on drug-product manufacturing, countries might also consider upgrading the value chain beyond just manufacturers. Many countries in sub-Saharan Africa have a highly fragmented landscape of distributors, wholesalers, and retailers, who all add their individual markups to the product. In some countries, for example, it’s not unheard of for a drug to be marked up by nearly double the manufacturer’s price by the time it reaches the end consumer. In addition to raising the price of drugs, this system also has the effect of compromising quality assurance, since each additional step creates the potential for improper storage, tampering, or delay, even as drugs near their expiration dates.

To get the value chain under control, governments might better enforce quality standards in distribution, wholesaling, and retailing, for example. Many tiny unregulated shops today don’t meet standards already on the books. If they did, it may encourage some industry consolidation and encouraging discipline that will also lead to better patient outcomes.

There are some who have questioned the ability of the countries in sub-Saharan African to build a local pharmaceuticals industry, and others who question the wisdom of doing so. To those skeptics, the analyses presented here should provide comfort that the potential for building a robust local industry could be real in some countries under the right conditions. It is now for public- and private-sector leaders in the region to decide whether to try.

Stay current on your favorite topics

Michael Conway is a senior partner in McKinsey’s Philadelphia office, Tania Holt is a partner in the London office, Adam Sabow is a senior partner in the Chicago office, and Irene Sun is an associate partner in the Nairobi office.

Explore a career with us

Related articles.

What’s next for pharma in emerging markets?

Winning in Nigeria: Pharma’s next frontier

Africa: A continent of opportunity for pharma and patients

WIGMORE TRADING LTD, 5TH FLOOR, MULLINER TOWERS, FORMER NNPC BUILDING 39, ALFRED REWANE WAY, IKOYI LAGOS

HOURS: 6 AM -4 PM PST M - TH; 6 AM - 3 PM PST FRI

+234 1 2934174 +234 1 2934176

The Top 5 Pharmaceutical Companies in Nigeria

• USD|NGN 585.0 % 0.0 Dollar to Naira Today
• GBP|NGN 798.0 % 0.0 Pounds to Naira Today
• EUR|NGN 682.0 % 0.0 Euro to Naira Today
• GHS|NGN 90.0 % 0.0 Cedis to Naira Today
• ZAR|NGN 27.0 % 0.0 Rand to Naira Today
• KES|NGN 3.85 % 0.0 Kenyan Shilling to Naira Today
• USD|GHS ₵ 5.74 % 0.0 Dollar to Cedis Today
• GBP|GHS ₵ 6.41 % 0.0 Pounds to Cedis Today
• USD|KES K 108.0 % 0.0 Dollar to Kenyan Shilling Today

Nigeria’s pharmaceutical industry is a critical component of the country’s healthcare system, ensuring the availability of essential medicines and contributing to the overall economic growth. Here are the top five pharmaceutical companies in Nigeria, recognized for their innovation, quality, and impact on the healthcare sector.

1. Emzor Pharmaceutical Industries Ltd

Overview : Established in 1984, Emzor Pharmaceutical Industries Ltd is one of the largest indigenous pharmaceutical companies in Nigeria. Known for its commitment to providing affordable and high-quality healthcare products, Emzor has a broad product portfolio that includes over 120 products.

Key Contributions :

• Affordable Medications : Provides a wide range of affordable medications to improve access to healthcare.
• Quality Assurance : Adheres to stringent quality control measures, ensuring the safety and efficacy of its products.
• Innovative Products : Continuously invests in research and development to introduce new and effective healthcare solutions.

Website : Emzor Pharmaceutical Industries Ltd

2. May & Baker Nigeria Plc

Overview : May & Baker Nigeria Plc was established in 1944 as Nigeria’s first pharmaceutical company. It has a long-standing reputation for producing high-quality pharmaceutical and healthcare products.

• Diverse Product Range : Offers a wide range of pharmaceutical products, including prescription drugs, over-the-counter medications, and consumer health products.
• Manufacturing Excellence : Operates state-of-the-art manufacturing facilities that comply with international standards.
• Community Engagement : Actively involved in community health programs and initiatives to promote public health.

Website : May & Baker Nigeria Plc

3. Fidson Healthcare Plc

Overview : Fidson Healthcare Plc, founded in 1995, is a leading pharmaceutical company known for its innovative approach and high-quality products. The company focuses on manufacturing, marketing, and distributing pharmaceutical products.

• Research and Development : Invests significantly in R&D to develop new and improved healthcare products.
• Comprehensive Product Line : Produces a wide range of pharmaceutical products, including ethical drugs, over-the-counter medications, and consumer health products.
• Quality Standards : Committed to maintaining high-quality standards across all its operations.

Website : Fidson Healthcare Plc

4. GlaxoSmithKline Nigeria Plc (GSK Nigeria)

Overview : GlaxoSmithKline Nigeria Plc, a subsidiary of the global healthcare giant GSK, has been operating in Nigeria for over 40 years. The company is known for its contributions to the pharmaceutical and consumer healthcare sectors.

• Global Expertise : Leverages global expertise to provide high-quality pharmaceutical and consumer healthcare products.
• Public Health Initiatives : Actively involved in various public health initiatives and partnerships to improve healthcare outcomes in Nigeria.
• Innovation : Focuses on developing innovative solutions to meet the healthcare needs of Nigerians.

Website : GlaxoSmithKline Nigeria Plc

5. Neimeth International Pharmaceuticals Plc

Overview : Neimeth International Pharmaceuticals Plc, originally founded as Pfizer Products Plc in 1957, is a leading pharmaceutical company with a strong focus on ethical products and prescription medications.

• Ethical Pharmaceuticals : Specializes in the production of ethical pharmaceuticals, including cardiovascular, anti-infective, and anti-diabetic drugs.
• Quality Manufacturing : Operates high-standard manufacturing facilities that comply with international best practices.
• Healthcare Advocacy : Engages in healthcare advocacy and education to promote better health outcomes in Nigeria.

Website : Neimeth International Pharmaceuticals Plc

The pharmaceutical industry in Nigeria is marked by a commitment to quality, innovation, and accessibility. Companies like Emzor Pharmaceutical Industries Ltd, May & Baker Nigeria Plc, Fidson Healthcare Plc, GlaxoSmithKline Nigeria Plc, and Neimeth International Pharmaceuticals Plc are at the forefront of this sector, playing a crucial role in enhancing healthcare delivery and improving the health of Nigerians.

No Comments Yet.

LEAVE A COMMENT Cancel reply

You must be logged in to post a comment.

VISIONARY, BOLD, DISRUPTIVE

Where to Buy Oxford Biscuit Company Products in Nigeria: A Guide to Delicious Treats

Oxford Biscuit Company is known for producing a variety of delicious and high-quality biscuits that have become favorites among snack lovers. With a range of products that appeal to all...

Where to Buy Beloxxi Cream Crackers in Nigeria: A Delicious Snack for Every Occasion

Beloxxi Cream Crackers have become a beloved snack in Nigeria, known for their crispy texture and rich, creamy taste. Whether enjoyed on their own, paired with cheese, or dipped in...

Where to Buy Yale Biscuits in Nigeria: A Guide to Finding Your Favorite Snack

Yale biscuits have become a popular choice for snack lovers in Nigeria, known for their delicious taste and satisfying crunch. Whether you're enjoying them with a cup of tea or...

Where to Buy Parle G Biscuits in Nigeria: A Guide for Fans of the Iconic Snack

Parle G biscuits have been a staple snack for decades, beloved for their distinctive taste, affordability, and versatility. Originating from India, Parle G biscuits have found a massive fan base...

Understanding Incoterms: Delivered Duty Paid (DDP) Explained

Incoterms, short for International Commercial Terms, are a set of standardized trade terms used globally to define the responsibilities of buyers and sellers in international transactions. Among the most commonly...

• Agri-products and Commodities
• Pay for Services Online
• Apply to become a distributor
• Book a 15 minute initial consultation
• Free commercial invoice generator
• Company Profile
• A Brief History of Wigmore Trading
• Sales Advisory Services in Nigeria
• DISTRIBUTION
• STORE & SELL
• WHOLESALERS
• Retail Supply Chain Consultancy
• Marketing and Sales Services in Nigeria
• Trade and Business Exhibitions in Nigeria
• Business & Manufacturing Consultants in Nigeria
• Influencer Marketing Agency In Nigeria
• Shipping & Logistics

Wigmore Trading, FMCG Distributors, Wholesale and Logistics in Lagos, Nigeria. Abuja & West Africa. | Wigmore Trading Nigeria | Wigmore Trading Nigeria

Latest News Ministerial Working Visit to NIPRD Webinar Conference on Expediting Local Vaccines’ Manufacturing in Nigeria Pharma Industry Engagement (WHO PQ Capacity Building Programme) NIPRD signs MoU with FMSDIGA and NLTF on CPP International Conference on Health Access and Socio-Economic Development Beyond COVID-19 (ASICC-19)

Welcome message from the Director-General / CEO

The national institute for pharmaceutical research and development (niprd) is a federal government parastatal under the federal ministry of health. the agency was established by government order no. 33 vol. 74 of 11th june 1987 part b under the science and technology act cap 276. it became functional in the year 1989. in 2001 following a federal executive council decision, niprd was moved to the federal ministry of health (fmoh), with a huge investment in scientific equipment and human resources.  niprd is the only one of its kind in the region, and is statutorily charged with the responsibility for research and development of drugs, vaccines, phytomedicines, commodities, and diagnostics aimed at improving sustainable access to safe, affordable and high-quality healthcare. read more….

Get our COVID-19 Advisory

Nsp-ii and m&e plan (2021 - 2025).

Penultimate week, I led a team of colleagues from @NIPRD2 to the Belgian Embassy @BEinNigeria for a high-level meeting led by His Excellency Ambassador @PieterLeenknegt . We provided updates regarding the capacity built over the past three and half decades ago, as well as the… pic.twitter.com/28MUpfs45E — Dr Obi Adigwe (@DrAdigwe) August 6, 2024

Recent Blogs

Ministerial working visit to niprd.

Dr. Tunji Alausa, the Honourable Minister of State for Health and Social Welfare recently visited the National Institute for Pharmaceutical Research and Development (NIPRD) as

Webinar Conference on Expediting Local Vaccines’ Manufacturing in Nigeria

Previous Next The National Institute for Pharmaceutical Research and Development (NIPRD) is the only one of its kind in the Region, and is statutorily charged

Africa no longer has an interest in tokenistic interventions such as fill-finish products, but has become interested in building dependable, equitable, and veracious partnerships that will enable the Continent to undertake full R&D for the production of vaccines. Dr Obi Adigwe, DG NIPRD Tweet

Our Partners ... The list keeps growing !

Useful links.

• Governing Board
• Office of the DG
• Human Resources Management
• Finance and Accounts
• MPR&TM
• PT&RMD
• Education and Trainings
• Clinical Research
• Collaborative Research
• Publications
• NIPRD Consult

An official website of the United States government

The .gov means it’s official. Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.

The site is secure. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

• Publications
• Account settings

Preview improvements coming to the PMC website in October 2024. Learn More or Try it out now .

• Advanced Search
• Journal List
• Innov Pharm
• v.12(4); 2021

Why Nigeria Must Strengthen its Local Pharmaceutical Manufacturing Capacity

Melody okereke.

1 Faculty of Pharmaceutical Sciences, University of Ilorin, Kwara State, Nigeria

Adebowale Adekunbi

2 Consultant, Regulatory Information Management and Systems

Yusuf Ghazali

3 Production Pharmacist, Fidson Healthcare PLC

With over 115 registered pharmaceutical manufacturers, Nigeria still depends on other countries for the supply of active pharmaceutical ingredients and excipients. Significant attention has not been paid to the local production of raw materials, pharmaceutical dosage formulations, or processing equipment, which has resulted in a decline in the country’s pharmaceutical manufacturing capacity. Owing to the overall importance of the pharmaceutical industry, it is, therefore, essential to pay close attention to developmental issues affecting this sector. In this commentary, we explore why Nigeria must boost its local pharmaceutical manufacturing capacity.

Introduction

The opportunity for national or local manufacturing of high-quality, cost-effective pharmaceuticals to satisfy public needs has been argued and explored for years. In developing countries, evidence has revealed that the pharmaceutical sector plays an important role in the overall health of its citizens [ 1 ], and Nigeria is no exception. According to a report commissioned by the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the pharmaceutical sector continues to contribute to the global economy in all regions. Between 2006 and 2012, the pharmaceutical industry’s share of global GDP value added climbed by an average of 6% every year, hitting $437 billion in 2012 [ 2 ]. Owing to its importance in the overall welfare of the economy, it is, therefore, essential to pay close attention to developmental issues affecting this sector. The recent COVID-19 pandemic uncovered several shortcomings and lapses affecting Nigeria’s pharmaceutical manufacturing capacity as it necessitated the need for local solutions to solve local problems. The pandemic resulted in severe drug shortages and medicines insecurity in the country as drug importation was significantly reduced [ 3 ]. It also amplified the urgent need to boost local pharmaceutical manufacturing capacity. Here, we explore why this is necessary.

As described by the Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN), the Nigerian pharmaceutical industry has the capacity to be a giant in the manufacturing, distribution, and sale of pharmaceutical products in Sub-Saharan Africa [ 4 ]. Despite her large population and vast natural resources, Nigeria suffers from a high burden of diseases, hunger, and poverty. The Nigerian health sector was ranked 187th out of 191 members by the World Health Organization (WHO) in 2000 [ 5 ]. This poor rating of the sector was due to several factors tied to poverty, high prevalence of diseases, malnutrition, etc. Another factor that stands out is the apparent lack of standardized equipment and machinery for the production, distribution, and storage of pharmaceuticals [5]. As a result, only a few pharmaceutical firms in Nigeria were able to participate in international tenders for the supply of anti-malaria, anti-TB, anti-retroviral, and other pharmaceuticals [5]. With over 115 registered pharmaceutical manufacturers [ 6 ], Nigeria still relies on imported finished pharmaceutical dosage forms such as suspensions, syrups, tablets, creams, ointments, suppositories, powders, capsules, and parenteral products. These are imported by either multinational drug companies, the government, or wealthy indigenous private entrepreneurs [ 7 ]. Significant attention has not been paid to the local production of raw materials, pharmaceutical dosage formulations, or processing equipment. Due to the lack of domestic production of key inputs such as Active Pharmaceutical Ingredients (APIs) and excipients, the country is forced to rely on India and China for supply. This causes a hike in prices and foreign exchange difficulties [7]. According to the Pharmaceutical Society of Nigeria (PSN), over the last few years, Nigeria has struggled with a lack of foreign exchange, which has contributed to a 200% rise in the cost of imported drugs [ 8 ]. Interestingly, over the past two decades, the Nigerian pharmaceutical industry has invested more than NGN400 billion (USD 969 million) in boosting its infrastructure in order to obtain the WHO prequalification required for foreign competition. Many pharmaceutical firms now export to other African countries [9]. Despite these investments and big steps, the sector still faces multifaceted challenges.

Most inputs used by the Nigerian pharmaceutical industry are imported due to a lack of a functional petrochemical industry [ 9 ]. Between 2014 and 2018, the cost of importation of these inputs rose by over 100 percent owing to the weakness of the naira and rising logistics costs [9]. Pharmaceutical manufacturers, like manufacturers in other industries, are faced with increasing manufacturing costs. Energy alone accounts for 40% of overall expenditure. Today, many industries no longer rely on energy distribution providers for electricity because they operate on gas or diesel daily [9]. The above-named challenges have all been a setback to the Nigerian pharmaceutical manufacturing sector and have led to an overall decline in its manufacturing capacity. A possible implication is that pharmaceutical manufacturers will further rely on drug importation in a bid to avoid excessive production costs incurred from unfavorable policies, huge taxes, and unreliable infrastructure of the country. The lack of sufficient demand for locally manufactured drugs due to cheaper imports from China and India would result in poor manufacturing capacity and will have a detrimental impact on previous investments in the industry. In contrast to the Nigerian pharmaceutical sector, the Indian pharmaceutical industry is thriving due to considerably lower manufacturing costs than in the United States and Europe [10]. As a result, the Indian pharmaceutical industry caters for more than half of the global demand for various vaccines, 40% of the demand for generics in the United States, and 25% of all drugs in the United Kingdom [ 10 ].

During the recent COVID-19 pandemic, it was painfully clear that Nigeria relies greatly on imported APIs and equipment needed for local drug manufacturing. This dependency is particularly worrisome given the possibility of any unforeseen event that can disrupt importations- like the COVID-19 pandemic. The reliance on foreign countries may result in severe medicine insecurity and drug shortages. At the time of writing, India has just been struck with another wave of COVID-19 with an overwhelming surge in the number of recently reported cases [ 11 ]. There are concerns that flight restrictions could result in drug shortages and an unprecedented rise in the costs of pharmaceutical products since over 70% of APIs and finished drug products are imported from India [9]. Another concern is that this may create an opportunity for falsified medicines to enter into the legitimate drug supply chain as unscrupulous business elements may capitalize on scarcity. Recall that a great percentage of local pharmaceutical manufacturers purchase APIs and formulate them into finished pharmaceutical dosage forms [7]; this implies that the country is limited to purchasing pharmaceutical products and repackaging them for use. At this point, Nigeria must reflect on lessons learned from the last 10 years, India, and the COVID-19 pandemic to intensify efforts targeted at strengthening our local pharmaceutical manufacturing capacity.

The pharmaceutical sector cannot survive in a country without an enabling environment. Strengthening the country’s local pharmaceutical manufacturing capacity will take decades of investment, dedication, advocacy, and coordinated efforts by the government and private stakeholders. To strengthen the Nigerian pharmaceutical manufacturing capacity, the government, regulators, policymakers, pharma companies, and other relevant stakeholders must address the political, socio-economic, financial, and regulatory barriers such as high taxes, high energy costs, poor infrastructure, insecurity, poor funding, and unfavorable policy changes.

Acknowledgments

Acknowledgements: None

Funding: None

Conflicts of Interest: None

• Fitch Solutions

CreditSights

Fitch learning, fitch ratings research & data, sustainable fitch.

• BMI Platform
• BMI Geoquant
• BMI Reports Store
• Fitch Connect

Regulatory Improvements Will Boost Nigeria's Pharmaceutical Market, But Challenges Remain

Pharma & Healthcare / Nigeria / Tue 19 Apr, 2022

• Nigeria’s Food and Drug Administration and Control (NAFDAC) has achieved high maturity level in the World Health Organization’s (WHO) classification of national medicines regulatory systems.
• This means that the medicine regulator is operating at an advanced level of performance, and it is now eligible to be recognised as meeting international standards.
• Enhanced regulatory operations in Nigeria will improve market access, however, generic drugmakers will likely be the main beneficiaries to these improvements as innovative drugmaker activity in the country remains limited.

Regulatory improvements will be positive for drugmakers. The World Health Organization (WHO) announced on March 30 2022 that Nigeria’s medicine regulator, NAFDAC, has achieved high maturity level (level three) in its classification of national medicines regulatory systems. In Sub-Saharan Africa, Nigeria has now joined Ghana and Tanzania as the other regulatory systems with high maturity. WHO’s assessment of regulatory authorities is based on its ‘Global Benchmarking Tool’, which is an evaluation tool that checks regulatory functions of different authorities against a set of more than 260 indicators. These cover core regulatory functions such as product authorisation, testing of products, market surveillance and the ability to detect adverse events.

Regulatory authorities that reach maturity levels three and four in the WHO’s classification mean that they are operating at an ‘advanced level of performance and undertaking continuous improvement’. They are also eligible of being regulatory authorities that should be globally recognised as meeting WHO and other international standards. It is therefore our view that as Nigeria has now achieved this high maturity level, a more efficient regulatory body in the country will improve market access and support market growth ahead.

Improvements in market access expected. As operations of NAFDAC now become more efficient, we believe that this will improve market access into the Nigerian pharmaceutical market. According to the NAFDAC, the WHO listed 868 recommendations which the organisation had to meet before getting to maturity level three status, and these included improving the processes for new product registrations, inspections and post-marketing surveillance. As Nigeria successfully addressed these recommendations, multinational drugmakers are therefore likely to see improvements in the overall registration process of new medicines in the country, with registration processes likely to become much quicker and matching international standards. We therefore believe that this will support market growth ahead. We forecast that Nigeria’s pharmaceutical market will grow by a CAGR of 11.8% in local currency terms, and 9.8% in US dollar terms, over the next ten years, which will take the market to NGN6.4trn (USD13.1bn) by 2031.

Double-Digit Market Growth Expected Throughout Our Forecast Period

Nigeria - pharmaceuticals market forecasts, ngnbn.

Lastly, generic drugmakers will likely benefit the most. Although greater regulations will bode well for growth of patented medicines, we believe that these improvements in Nigeria’s regulatory environment will benefit generic drugmakers the most. This is because the current regulatory climate in the country continues to favour generic medicine rather than patented medicine. The market continues to have high industry-associated risks, including a weak intellectual property environment and an underdeveloped pricing and reimbursement system. We further note that Nigeria’s recently launched national drug policy still does not address these problems. Innovative drugmaker activity in Nigeria will therefore remain limited, meaning that generic drugmakers that currently dominate the market will be the main beneficiaries to any regulatory developments.

Nigeria Will Remain A Risky Market For Innovative Drugmakers

Nigeria - industry risks scores.

This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings. Any comments or data included in the report are solely derived from BMI and independent sources. Fitch Ratings analysts do not share data or information with BMI. Copyright © 2023 Fitch Solutions Group Limited. All rights reserved. 30 North Colonnade, London E14 5GN, UK.

Thank you. Your download link will be emailed to you shortly.

Please complete to access all articles on fitchsolutions.com.

Thank you for registering. To read the article please click on the link we have sent to your email address.

Get to know the business behind the products. Meet some of our key people and explore our credentials.

BMI Launches Energy Transition Service to Monitor the Shifting Energy Landscape at Global and Local Levels

Fitch Group Named Top Forecaster in FocusEconomics Analyst Forecast Awards

BMI Launches ESG Country Service to Measure Risk in 140 Markets

• Early Talent

Know what you need but not sure where to find it? Discover how we can meet your requirements.

• Countries & Regions
• Industries & Sectors
• Companies or Entities
• Issues, Deals & Transactions

Explore knowledge that cuts through the noise, with award-winning data, research, and tools.

• Country Risk
• Industry Research
• Operational Risk
• Fitch Ratings Data & Research
• Fitch Credit Ratings Data
• Fitch Ratings Credit Research
• Fitch Ratings ESG Relevance Scores Data

Fundamental Data & Analytics

• Bank Scorecard
• Basel III - SCRA Data
• CDS Implied Credit Scores
• Financial Implied Credit Scores
• Fitch Connect News
• Fundamental Data
• Leveraged Finance Intelligence
• Covenant Review
• LevFin Insights
• PacerMonitor
• CreditSights  
• Risk Products

Browse over 2,000 research reports at the Fitch Solutions Store .

• Country Risk Reports
• North America
• Latin America
• Middle East
• Industry Reports
• Special Reports
• Browse All Reports

Know what you need but can't find it?

BMI has a 40- year track record of supporting investors, risk managers and strategists. We help them identify opportunities and quantify risks in markets where reliable information is hard to find and difficult to interpret. This includes in-depth insight and data, and high frequency geopolitical risk indicators.

CreditSights enables credit market participants to manage financial risk better with independent credit research, global market insights, covenant analysis, and news, distilling market noise into actionable investment ideas.

dv01 provides true transparency in lending markets, and valuable intelligence on every consumer loan in the structured finance world, through a leading data intelligence platform.

Fitch Learning develops the future leaders of the financial services industry and drives collective business performance. We do this by utilizing a best-in-class technology platform and blended learning solutions that maintain the personal element of development.

We help credit, risk, and investment professionals make better-informed decisions and meet regulatory requirements, within and beyond the rated universe. We do this by providing differentiated perspectives and in-depth expertise through Fitch Credit Ratings, Fitch Ratings Credit Research, Fundamental Financial Data, and innovative datasets, all backed by transparent methodologies, accessible analysts, and workflow-enhancing analytical tools.

Sustainable Fitch delivers human-powered sustainability Ratings, Scores & Opinions, as well as Data & Research to serve the needs of fixed income investors. Our specialists uniquely deconstruct the complex issues of E, S, and G globally.

ESG Relevance Scores Data

Access ESG Scores on more than 10,000 entities and transactions, and over 140,000 ESG data points to support your credit risk assessments.

Get to know the company behind the products, our values and our history. Meet some of our key people and explore our credentials.

• Work with Us

Explore our latest views on risks and opportunities by industry, region or topic.

Bright Prospects for Kuwait’s Oil Production Amid Strict Adherence To OPEC Quotas

US Election Update: Harris Likely To Win, But Risks To Core View Are Substantial

Qatar's Growth Will Gradually Gain Pace In 2024 And 2025

ESG in Action: Navigating Sustainability Trends in Emerging Markets

A Trump Encore: Assessing The Impact On The US Dollar

US Election Chartbook (June 2024)

• Global Elections 2024
• BMI Key Themes 2024
• Russia-Ukraine Crisis
• Agribusiness
• Consumer & Retail
• Consumer Electronics
• Food & Drink
• Information Technology
• Infrastructure
• Medical Devices
• Oil & Gas
• Pharmaceuticals
• Telecommunications
• More Industries

Learn more about the BMI products and services that empower you to make critical business decisions with confidence.

Ratings Data & Research

• ESG Country
• Politics & GeoQuant
• Energy Transition
• Reports Store