By Modupe Gbadeyanka
Foremost Nigerian pharmaceutical company, Swiss Pharma Nigeria Ltd, commonly referred to as Swipha, has been acquired by a new investor called Biogaran.
Biogaran is a subsidiary of Servier, which is the number two French pharmaceutical group that specialises in generics.
Commenting on the acquisition, President of Biogaran, Mr Pascal Brière, said, “Swipha’s know-how, network and reputation immediately convinced us that it was the right partner for us.”
Biogaran said it chose Nigeria to realise its first investment in Africa because of the many long-term opportunities offered by the country, which is Africa’s most populous.
“Nigeria quickly established itself as the best point of entry on the African continent, with 184 million potential consumers and strong economic fundamentals, including a dynamic market economy,” Mr Brière stated.
This development comes at a time Nigeria is battling with its economy, which is finding its way out of recession.
Swipha is a drug production and distribution firm incorporated in 1976 and is famous for its quality.
It was the first Nigerian pharmaceutical company to obtain “ISO 9001:2008” certification in 2007 and was given WHO GMP certification by the World Health Organisation (WHO) in 2014.
It has over 300 Nigerians on its payroll and had a turnover of N4 billion before the crisis.
Beyond its production unit, the company also controls an extensive distribution network covering most of Nigeria.
Biogaran says it is interested in developing Swipha’s portfolio, which is mainly focused on anxiolytics and tranquilisers, antimalarials and antibiotics.
