Japanese Firm Increases Stake in Fidson to 21.57%

By Dipo Olowookere

A leading pharmaceutical company in Japan, Ohara Pharmaceutical Company Ltd, has increased its shareholding in Nigeria’s drugs firm, Fidson Healthcare Plc, to 21.57 percent.

A statement issued by Fidson on Friday disclosed that the Japanese firm, which focuses on the businesses of orphan drugs and generic drugs, used the opportunity presented by the rights issue exercise of Fidson, to increase its stake in the Nigerian company.

The raising of the stake, according to Fidson, was in execution of a strategic alliance between both companies, which is aimed at “supporting Fidson in fulfilling its commitment to provide the Nigerian market with the latest healthcare products and services.”

The statement noted that Ohara, being a major player in the Asian pharmaceutical market, will bring cutting edge technology and innovation through technology transfer, expertise, and knowledge sharing to enhance Fidson’s excellence and ascendency in the Nigerian pharma space.

“The alliance holds promise as a significant growth driver for both companies, particularly as a major factor for the development of local pharmaceutical manufacturing in Nigeria,” it said, adding that the “significance of collaborations of this nature to the emerging Nigerian healthcare system is evidently enormous, given the rapid population growth, the healthcare state and the living standards of the larger population in the country.”

It said, “Given this growing population, there is no doubt that Nigeria is in urgent need of a rapid improvement in the standard of healthcare delivery.”

“This can only be accelerated through modernization and technological intervention which the alliance with Ohara aims to deliver,” the statement stressed.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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