Fidson Healthcare Plc has reached a major milestone in its 30th anniversary year, hitting a market capitalisation of N44.64 billion as of April 2025. The indigenous pharmaceutical manufacturer also reported strong financial results for 2024, positioning it among Nigeria’s leading players in the drug manufacturing sector.
According to the company’s audited 2024 financial statements, Fidson recorded a 59% increase in revenue, rising to N84.2 billion from N53.1 billion in 2023. Profit after tax rose 60% to N5.78 billion, while profit before tax hit N7.7 billion, a 30% year-on-year growth.
Finance Director, Imokha Ayebae, said the strong financial performance was driven by a combination of operational efficiency, prudent financial management, and sound relationships with key market stakeholders. “We’re proud of what we’ve achieved. These results reflect the resilience and focus of our business model,” Ayebae said.
The company has also rewarded shareholders with an increase in dividend payout from 60 kobo to N1.00 per share, amounting to N2.29 billion. Additionally, earnings per share jumped from 157 kobo to 252 kobo, while net assets per share grew by 23% to 1,034 kobo.
In line with its commitment to expanding its production capabilities, Fidson invested over N3.7 billion in property, plant, and equipment in 2024. According to Deputy Managing Director Biola Adebayo, the company has grown consistently since it started local production in 2002 and continues to align with global best practices.
Fidson’s manufacturing facility in Ogun State meets World Health Organisation (WHO) standards and is a continental leader in large-volume parenteral (LVP) drug production, producing over 120 million bottles annually. It also remains the only company in Nigeria manufacturing glass-ampoule injectables, further cementing its strategic position in the industry.
Backed by a workforce of over 1,709 employees, Fidson said it maintains an inclusive work environment, offering health insurance, performance-based incentives, and welfare packages such as free meals for low-income staff. The company also prides itself on a non-discrimination policy.
To enhance distribution and market access, Fidson operates 11 depots across Nigeria and plans to open more depots to boost supply chain efficiency and ensure timely delivery of medicines nationwide. The company is also actively exploring new African markets, a move that aligns with its regional expansion strategy.
Fidson said it is investing in infrastructure and strategic partnerships to strengthen its presence beyond Nigeria. In 2024, the company spent N248 million on corporate social responsibility, reinforcing its commitment to public health and social impact.
