MeCure Plc to produce Augmentin equivalent in Nigeria after GSK exit

MeCure Industries, a pharmaceutical company that is based in Nigeria, says it has received the go ahead from the National Agency for Food & Drug Administration and Control (NAFDAC) to make and sell the first-ever Amoxyclav 625mg tablets produced locally.

Amoxycillin and Clavulanic acid are the main ingredients of the popular brand, Augmentin, made by GlaxoSmithKline (GSK) which exited Nigeria last year.

GSK transitioned to a third-party distribution model for its pharmaceuticals and consumer healthcare products, making key antibiotics such as Augmentin more expensive.

Lagos-based MeCure Healthcare Ltd., a family-owned business owned by father Samir Udanif and son, Arjun Udani, said it is stepping up to locally produce the drug.

“MeCure Industries completed its Beta-lactam plant (Amoxycillin and Clavulanic acid also known as Amoxyclav) and, in the first quarter of 2024, secured approval from NAFDAC to launch production of Amoxyclav 625mg tablets (the first locally manufactured alternative antibiotic tablets following the departure of major manufacturers of similar variants),” it said in its 2024 first quarter report last week.

The company said it received the green light in early 2024. After production began in the first quarter, final approval arrived on April 30th, allowing sales to officially kick off.

“Furthermore, MeCure Industries is proactively retrofitting its other facilities and plants to align with the Beta-lactam plant’s standard,” it said.

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MeCure said it is nearing completion of a corticosteroid manufacturing plant, set to be the first of its kind in Nigeria.

“At Q1, the project achieved a 90 percent completion rate. This plant is dedicated to the production of Dexamethasone and Prednisolone medications, which are used for the treatment of inflammation, tertiary disorders, and severe injuries,” it said.

MeCure’s sales in the first quarter reached N8.1 billion, a 47% increase compared to N5.5 billion in the same period last year.

The growth can be attributed to two factors: a rise in product prices reflecting current economic and industry trends, and an increase in the overall volume of sales.

The company’s profit after taxes jumped to N641 million from N398.8 million previously.