Clinoscope Services Limited, a major shareholder in Neimeth International Pharmaceuticals Plc, has acquired an additional 40 million ordinary shares in the pharmaceutical company for N312 million, indicating renewed interest in the company after its major divestment last year.

The acquisition, executed on August 4, 2026, at N7.80 per share, raised Clinoscope’s holding in Neimeth to 592,975,860 shares, according to a corporate disclosure filed with the Nigerian Exchange by the Company Secretary, Chinenye Adekanmbi.

The latest purchase represents about 7.76 per cent of the 515.3 million shares Clinoscope disposed of in 2025.

Clinoscope had sold 15.3 million Neimeth shares at N6.10 per share on September 17, 2025, before disposing of another 500 million shares at N6 per share on December 19, 2025. The two transactions reduced its holding to 552,975,860 shares from 1.068 billion shares previously held.
The latest acquisition comes as Neimeth continues to strengthen its balance sheet and pursue fresh capital to support its growth plans.

At its 67th Annual General Meeting in June, shareholders approved an additional N30 billion capital-raising mandate through various instruments, including public offers, rights issues, private placements, bonds and other securities, subject to regulatory approvals. This brought the company’s total approved fundraising mandate to N50 billion.

The additional mandate expanded an earlier N20 billion capital-raising programme approved in 2025, under which the company raised funds through a rights issue.

Neimeth had also undertaken a capital restructuring programme aimed at cleaning up its balance sheet and eliminating accumulated losses. The exercise reduced its share premium account from about N2.38 billion to N390.02 million, with about N1.99 billion transferred to retained earnings reserves.

The renewed investment by Clinoscope also comes against the backdrop of Neimeth’s improved financial performance.

The company returned to profitability in 2025, recording profit before tax of about N1.34 billion, compared with a loss of N854.43 million in 2024, according to the financial statements approved by shareholders at the 2026 annual general meeting. Profit after tax stood at N976.42 million, compared with a loss after tax of N885.33 million in the previous year.

The company’s recovery was supported by stronger pharmaceutical sales and an improvement in foreign exchange-related performance, as the business moved from a substantial foreign exchange loss in the previous year to a gain in 2025.

The Neimeth share price has also recorded strong gains in 2026. Based on the closing prices of N5.80 at the end of 2025 and N8.60 at the close of trading on August 7, the stock has appreciated by about 48.28 per cent year-to-date.

The latest purchase therefore comes at a time when the pharmaceutical company is combining improved earnings, balance-sheet restructuring and plans for additional capital to strengthen its operations and support future expansion.

Meanwhile, the Nigerian Exchange Limited (NGX) closed in an upbeat yesterday, causing the equities market capitalisation to cross the N160 trillion mark.

At the close of transactions yesterday, the market capitalisation increased from N158.51 trillion on Friday, August 7, 2026, to N160.42 trillion, adding N1.91 trillion or 1.20 per cent.

Similarly, the benchmark NGX All-Share Index (ASI) advanced by 2,956.15 points, rising from 245,573.60 points to 248,529.75 points. This represented a 1.20 per cent increase and brought the index closer to the 250,000-point threshold.

On the sectoral chart, the NGX Consumer Goods Index rose 0.76 per cent from 4,328.65 points to 4,361.43 points. The NGX Consumer Goods Index also gained 0.25 per cent.