Fidson Healthcare Plc continued its impressive market performance, surging 24% in the first week of February 2025 as investor confidence soared. The pharmaceutical giant closed at N20.90 ($0.0135), surpassing the N19 ($0.0123) threshold for the first time in its trading history.
With a weekly trading volume of 8.8 million shares, Fidson ranked among the top gainers on the Nigerian Exchange (NGX), trailing behind Cadbury and International Energy Insurance Plc. This sustained bullish run followed the company’s full-year 2024 financial report, which revealed a pre-tax profit of N7.5 billion ($4.86 million)—a 27.31% year-on-year increase from N5.9 billion ($3.82 million) in 2023.
Fidson’s Financial Strength Fuels Stock Rally
Fidson Healthcare’s FY 2024 revenue soared by 58.70%, rising from N53 billion ($34.38 million) to N84.1 billion ($54.52 million), driven by strong demand for its ethical and Over-The-Counter (OTC) drugs.
The company also reported a 62.17% rise in core operational profits, reaching N12.9 billion ($8.36 million), reinforcing its position as one of Nigeria’s fastest-growing pharmaceutical firms.
Strategic Partnerships & Market Expansion
A key catalyst behind Fidson’s stock momentum is its strategic partnership with three Chinese firms—Jiangsu Aidea Pharma, Nanjing PharmaBlock, and the China-Africa Development Fund—to establish a new pharmaceutical plant in the Lekki Free Trade Zone.
This facility, announced in September 2024, is expected to bolster the production of HIV treatments in Nigeria and expand Fidson’s footprint in West Africa’s pharmaceutical market. According to Dr. Fidelis Ayebae, Founder & MD, the collaboration aims to enhance healthcare access across the continent while strengthening Fidson’s manufacturing capabilities.
Board Appointments to Drive Growth
Further boosting investor confidence, Fidson announced the appointment of three new directors—Dr. Babatunde Kabir Ipaye, Mr. Philip Ikechi Ejiofor, and Mr. Oshoke Michael Ayebae—effective January 1, 2025.
Chairman Olusegun Adebanji emphasized the significance of the new leadership, stating: “Their extensive expertise and strategic vision will undoubtedly enhance our ability to fulfill our mission and drive the company forward.”
As Fidson Healthcare continues its bullish trajectory, investors remain optimistic about the company’s future growth, fueled by strong financial performance, strategic expansion, and leadership reinforcements.
