Fidson leads Nigeria's pharma market as imports still dominate

Nigeria's pharmaceutical sector, a significant market in Africa, grapples with a substantial reliance on imported medicines, meeting only about 30% of its needs domestically. This dependence persists despite the presence of local manufacturers striving to bolster production and even export capabilities.

Companies like Fidson, May & Baker, and Mecure Industries are navigating challenges in local drug manufacturing. A key hurdle remains the sourcing of over 90% of active pharmaceutical ingredients and excipients from abroad. Nevertheless, these firms are crucial in bridging the domestic supply gap, driven by growing demand fueled by population growth, urbanization, and increased healthcare awareness.

Fidson Healthcare has emerged as a dominant force in the publicly listed segment of the Nigerian pharmaceutical market. Following the exit of GlaxoSmithKline in 2023, the market now features four main publicly traded companies: Fidson, May & Baker, Mecure Industries, and Neimeth. Fidson significantly outpaced its competitors in the first quarter of 2026, reporting N42.6 billion in revenue, which represents more than half of the market share. This performance was bolstered by a boom in the domestic prescription drug market, with ethical drugs contributing over 56% of its turnover.