Fidson reports 61% jump in annual profit amid prescription drug boom

Drug maker Fidson Healthcare posted a 61.1 per cent surge in net profit last year, compared to 2024, according to i unaudited financials released on Thursday, lifted by Nigeria’s fast-growing market for prescription drugs.

Turnover for the pharmaceutical firm quickened by 41.4 per cent to N119.1 billion on the back of higher income from ethical drugs, also known as prescription medicines, which alone accounted for 65.4 per cent of revenue.

The strong result also reflected a shift towards exports as the company earned N523.1 million from sales outside the country.

Fidson had, in September 2024, struck a joint venture deal with Chinese companies Jiangsu Aidea Pharma, Nanjing PharmaBlock, and the Beijing-based China-Africa Development Fund to establish a pharmaceutical plant for the production of HIV drugs in the Lekki Free Trade Zone in Lagos, targeting West African pharmaceutical markets.

Realised exchange loss climbed to N5.5 billion from N5.4 billion, while administrative expenses jumped 55.6 per cent to N13.6 billion.

Profit before tax rose to N13.9 billion from N7.7 billion. Profit for the period increased to N9.3 billion from N5.8 billion.

At its annual general meeting last July, Fidson obtained shareholders’ consent to raise N30 billion in fresh capital. Its latest rights issue, which kicked off last month, aims to raise N21 billion to help scale up manufacturing capacity, boost its pan-African expansion plan and drive product innovation.

Market valuation stood at N156.1 billion at the end of trade on Thursday. The stock has yielded 315 per cent in the last year. Total assets stood at N80.4 billion in 2025, compared to N73.5 billion a year earlier.