Fidson teams up with Chinese firms to set up pharma plant in Nigeria

Press Release

Fidson Healthcare Plc, a leading Nigerian pharmaceutical company, signed a Strategic Cooperation Memorandum with Jiangsu Aidea Pharma, Nanjing PharmaBlock, and the China-Africa Development Fund in Beijing, China, on Monday, September 2, 2024. The signing ceremony was held during a visit by a Nigerian delegation led by Dr. Fidelis Ayebae, founder and Managing Director of Fidson Healthcare Plc. Other delegates included Dr. Babatunde Ipaye and Mr. Oshoke Ayebae.

Through this collaboration, the four parties agreed to leverage their respective strengths to establish a new joint venture pharmaceutical plant in Nigeria. This project aims to enhance Africa’s self-reliance in healthcare delivery, especially in tackling HIV. The partners will share information and resources, explore investment opportunities in West African pharmaceutical markets, and implement investment cooperation at the project level.

This signing follows a series of engagements, including a visit by Dr. Heliang Fu, Chairman of Jiangsu Aidea Pharma, to Nigeria earlier in the year. During that visit, Dr. Fu toured the Lekki Free Trade Zone, the chosen site for the state-of-the-art manufacturing facility set to revolutionize Nigeria’s pharmaceutical industry and the wider African continent.

The partnership between Fidson and the Chinese firms exemplifies international cooperation to address pressing medical challenges. The new manufacturing facility will become a hub for pharmaceutical excellence, leveraging the Lekki Free Trade Zone’s strategic location and infrastructure to promote economic growth and healthcare advancement.

Dr. Fu highlighted the importance of this partnership, stating, “This collaboration marks an important step for Chinese Pharma players in their commitment to global medical cooperation. By integrating our expertise in innovative drugs, we are confident in bringing greater well-being to African patients.”

Dr. Ayebae expressed optimism about the partnership, stating, “We eagerly look forward to this collaboration and believe that the complementary strengths of all parties will inject new vitality into Africa’s healthcare sector, particularly addressing the needs of over 1.9 million HIV-infected individuals in Nigeria, a focus of Aidea Pharma.” He also emphasized the timeliness of the project, aligning with the National Agency for the Control of AIDS (NACA), under Dr. Temitope Ilori, which is providing support for local production of Anti-Retroviral drugs (ARVs).

About the Partners

1. Fidson Healthcare Plc is Nigeria’s leading pharmaceutical company, involved in the manufacturing, marketing, and sales of healthcare products. Established in 1995, Fidson became the first company in sub-Saharan Africa to locally produce Antiretroviral (ARV) drugs. It was listed on the Nigerian Exchange Limited in 2008 (Stock Code: NGSE: FIDSON).
2. Aidea Pharma, founded in 2009 and listed on the SSE STAR Market in 2020 (Stock Code: 688488.SH), specializes in anti-HIV drugs and human urine-derived proteins. Aidea is the only high-tech enterprise in China’s anti-HIV field with two Class I innovative drugs.
3. PharmaBlock is a global Contract Research, Development, and Manufacturing Organization (CRDMO), offering drug screening, development, and manufacturing solutions. Established in 2008, PharmaBlock was listed on the Shenzhen Stock Exchange’s ChiNext board in 2017 (Stock Code: 300725.SZ).
4. China-Africa Development Fund (CADFund) was launched in 2007 with a capital of $10 billion, following the Beijing Summit of the Forum on China-Africa Cooperation in 2006. It is China’s first equity fund focused on investment in Africa.