Fidson, US firms partner on new product marketing, others
As part of efforts to ensure the marketing and distribution of a new product, LodonalTM, a patent-protected product that is indicated for the management of patients with immune-compromising diseases, Fidson Healthcare Plc has entered into a partnership with United States (US) firms, Immune Therapeutics, GB Pharma and American Hospitals & Resort (AHAR).
The partnership, according to a press statement from Fidson Healthcare, will leverage Fidson’s strong and experienced marketing base, robust distribution channels and efficient customer and technical support services to promote LodonalTM in Nigeria. The distribution will become effective, upon completion of the ongoing NAFDAC approved 90‐day Bridging trial evaluating the efficacy and safety of the product.
Managing Director, Fidson Healthcare Plc, Dr. Fidelis Ayebae, said: “Fidson is truly excited about this collaboration with Immune Therapeutics and GB Pharma/AHAR. We know that success in this industry going into the future will be dependent on having the right partnerships, and we could not have asked for better partners at this stage of our growth. The international experience of Immune Therapeutics and GB Pharma/AHAR in different markets, and their strong commitment to research will be of immense benefit to Fidson. Likewise, Fidson’s towering presence in the Nigeria Pharma space will open a great door for the group to access one of the biggest and most rewarding markets in Africa.”
This partnership is another strategic approach by the management of Fidson Healthcare Plc, to further strengthen the company’s growth. It also comes on the heels of the recent visit by President Muhammadu Buhari to the United States and President Barack Obama. The significance is monumental as a concrete symbol of US-Nigerian commerce in a non-oil/gas related sector and a show case for the future of local manufacturing of quality pharmaceuticals on the African continent.
President and Chief Executive Officer (CEO) of GB Pharma, Dr. Gloria B. Herndon, said that “this is the crescendo of a great masterpiece that partnership of GB Pharma, American Hospitals & Resorts, Immune Therapeutics, each with its distinct role. Fidson Healthcare markets and distributes throughout the extensive Nigerian Network. We feel that Nigeria and US bilateral relationship will benefit from this amazing initiative that will enhance the health and wellbeing of people all over the world. This is the spirit of collaboration that President Obama and President Buhari were talking about during the State visit.”
Fidson Healthcare Plc, recently recognized by Frost & Sullivan as the recipient of her ‘2014 Growth Excellence Leadership Award in the Nigerian Pharmaceutical Industry, recorded sales of N9.7 billion in FY2014. The award was in recognition of the company’s consistent performance in the Nigerian pharmaceutical sector, which has seen its revenues rise at a 15% CAGR over the last five years.
The Company has also won other corporate awards including the Financial Standard ‘Pharmaceutical Sector Leader’ Award in 2008 and the ‘Nigerian Pharmaceutical Company of the Year’ at the Nigerian Healthcare Excellence Awards (NHEA) in 2014. Fidson’s definitive growth and consistent performance in the Nigerian stock market also earned her CEO the 2014 BusinessDay Top 25 CEOs Award, which the company has won consecutively for two years.
To offer options in manufacturing and grow its product portflio, Fidson will be commissioning a N7.5 billion manufacturing plant this year. According to the statement, “the new facility will double the company’s production capacity and will also for the first time, add intravenous fluids to Fidson’s product portfolio. The facility is built to conform to the World Health Organization (Geneva) current Good Manufacturing Practice (WHO-GMP) standards.”
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