Nigeria’s ailing pharmaceutical sector is set to receive a boost as two global pharmaceutical giants, CFAO Healthcare, a unit of the French conglomerate CFAO Group and Sanofi Pharmaceutical Industry Company have partnered by extending what they described as “the exclusive distribution of general medicines in Nigeria.”
According to both firms, the aim is to maintain products availably and quality services for the different local operators and patients.
Of late, the pharmaceutical industry in Nigeria has been facing a serious crisis, which has been attributed to the country’s harsh business environment occasioned by the paucity of forex, high inflation rate, and high loan interest repayment rate.
In August 2023, British multinational drugmaker and biotechnology company, GlaxoSmithKline, announced its exit from Nigeria.
The statement read, “Aware of the evolutions and challenges in the Nigerian pharmaceutical landscape, CFAO
Healthcare and Sanofi are joining forces, capitalizing on their expertise and historical presence
to optimize access to quality healthcare.
“With an unwavering commitment to the community, CFAO Healthcare is addressing today’s challenges, highlighting the continuity and stability of pharmaceutical distribution.
“A strategic alliance dedicated to shaping the future of healthcare in Nigeria.
“With a continuous presence of 120 years in Nigeria, the CFAO Group is actively deepening its roots, consolidating its position in the country, and making Nigeria the 26th country in the ongoing partnership with Sanofi.
“This aim is to maintain products availably and quality services
for the different local operators and patients.”
In 2021, CFAO Healthcare the statement initiated an exclusive partnership with Sanofi for the distribution and marketing of medicines and vaccines across 25 sub-Saharan African countries, both English and French-speaking.
“The Sanofi General Medicines range, comprising essential pharmaceutical products, underscores CFAO Healthcare and Sanofi’s shared commitment to providing quality therapeutic solutions while solidifying their footprint in the Nigerian market”, the statement added.
Chief Executive Officer and Chair of CFAO Healthcare, Jean-Marc Leccia, in his remarks, was quoted to have said that the firm was responding effectively to the healthcare needs of Nigerians.
population and to secure access to quality medicines.”
Sanofi Foundation Community Head for Turkey, Africa & Middle East, Cem Ozturk, was said to have lauded the partnership.
“This strategic move represents a significant milestone for our organization and is driven by
our commitment to continually improve access to our medicines and to better serve our patients and the Nigerian health system”, Ozturk said.
Experts in the pharmaceutical industry say the massive devaluation of the naira and the unfriendly business environment are adversely affecting Nigeria’s pharmaceutical sector and its profitability.
Instead of the sector improving according to them, things are getting worse as more pharmaceutical companies keep folding up.
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