Neimeth International Pharmaceuticals Plc has announced plans to embark on a market expansion strategy through constructing a state-of-the-art, World Health Organisation (WHO) compliant production facility in Amawbia, Anambra.
The Managing Director of the company, Mr Valentine Okelu, said the company would embark on an ambitious strategy to sustain its growth momentum.
According to him, the new facility is designed to serve as a centre of excellence for pharmaceutical research, development, manufacturing, and distribution.
He said upon completion, the facility would undergo certification by the WHO and other global regulatory bodies to ensure it meets international standards.
Okelu added that the company operates with a well-defined five-year strategic plan focused on product and market diversification.
“I can confirm that we are actively pursuing market expansion, a crucial component of our diversification strategy that will reinforce our resilience and long-term sustainability,” he said.
He said the company, over the past year, had taken strategic steps to optimise its marketing and distribution channels to ensure increased market presence and deeper engagement with its customer base.
On future plans, Okelu revealed that Neimeth’s five-year strategic plan (2025–2029) focuses on substantial revenue and profit growth, with a clear roadmap toward sustained profitability and the resumption of dividend payments.
“Our vision is to establish Neimeth as a recognised international brand within sub-Saharan Africa.
“We will aggressively pursue this ambition by forging strong partnerships and capitalising on market opportunities for sustainable expansion,” he said.
He added that these initiatives underscore the firm’s commitment to creating long-term value for shareholders, stakeholders, and Nigeria’s broader healthcare industry.
Okelu, however, identified financial constraints, infrastructure deficits, especially the high cost of power and energy, as key challenges affecting the industry.
He urged government and high-net-worth individuals to inject patient capital to support the sector’s stability and expansion.
He noted that these rising costs were squeezing profit margins, making it difficult for companies to remain competitive as consumers grapple with declining disposable income.
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