Fidson Healthcare Plc has announced a significant milestone, achieving a market capitalization of N44.64 billion as of April 2025, solidifying its position as a leader in Nigeria’s pharmaceutical manufacturing industry. This accomplishment comes as the company celebrates 30 years of operations, marked by record-breaking growth and expansion.
According to its 2024 audited financial results, the indigenous drug manufacturer reported a revenue of N84.2 billion, reflecting a 59 per cent increase from N53.1 billion in 2023. Profit after tax surged by 60 per cent to N5.78 billion, while profit before tax rose by 30 per cent to N7.7 billion, underscoring the company’s robust financial performance.
Fidson’s Finance Director, Imokha Ayebae, attributed the impressive results to operational efficiency, prudent financial management, and strong stakeholder relationships. “These achievements are the result of operational efficiency, sound financial management, and fostering excellent relationships with critical stakeholders in the Nigerian market,” Ayebae stated.
In line with its strong performance, Fidson increased its dividend payout from N0.60 to N1.00 per share, amounting to a total payout of N2.29 billion. The company’s earnings per share grew from 157 kobo to 252 kobo, while net assets per share increased by 23 per cent to 1,034 kobo.
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Deputy Managing Director Biola Adebayo revealed that Fidson invested over N3.7 billion in property, plant, and equipment in 2024 alone. “Since commencing local production in 2002, the company has maintained steady growth, consistently upgrading its production capabilities to align with global manufacturing standards,” Adebayo noted.
Fidson operates a World Health Organisation-compliant manufacturing facility in Ogun State and leads Africa in large-volume parenteral production, producing over 120 million bottles annually. Notably, it remains the sole manufacturer of glass-ampoule injectables in Nigeria.
Backed by a workforce of over 1,709 employees, Fidson has earned praise for its commitment to fair labor practices, including non-discrimination policies, health insurance coverage, performance-based incentives, and welfare support such as free meals for low-income workers.
To deepen market penetration, the company operates 11 depots across Nigeria and plans to establish more. These efforts aim to strengthen its distribution network, ensuring timely access to essential medicines nationwide.
As part of its expansion strategy, Fidson is actively exploring new African markets and investing in infrastructure and strategic partnerships. In 2024, the company allocated N248 million to corporate social responsibility initiatives, reinforcing its commitment to societal impact.
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