Business a.m.
Fidson Healthcare Plc signed a Strategic Cooperation Memorandum with Jiangsu Aidea Pharma, Nanjing PharmaBlock, and the China-Africa Development Fund, in a move towards boosting Africa’s self-sufficiency in healthcare, particularly in the fight against HIV,
The agreement, which was inked in Beijing, China on September 2, 2024, signals the establishment of a joint venture with the goal of setting up a pharmaceutical plant in Nigeria.
The four entities pledged to work together, tapping into their respective knowledge bases and resources to identify and explore investment opportunities within West Africa’s pharmaceutical market.
The joint venture was established during a visit by a Nigerian delegation led by Fidelis Ayebae, founder and managing director of Fidson Healthcare Plc, accompanied by Babatunde Ipaye and Oshoke Ayebae.
Yomi Adebanjo, the company secretary, expressed optimism about the partnership, stating that it presents a model of global cooperation in tackling pressing medical issues.
The soon-to-be-constructed manufacturing facility in Nigeria’s Lekki Free Trade Zone, he stated, promises to become a cornerstone of pharmaceutical excellence, capitalising on the zone’s strategic location and well-developed infrastructure to spur economic growth and enhance healthcare delivery in the region.
Heliang Fu, the chairman of Aidea Pharma, remarked, “This collaboration marks an important step for Chinese Pharma players in their commitment to global medical cooperation. By integrating our expertise and experience in innovative drugs, we are confident in bringing greater well-being to African patients.”
Fidelis Ayebae expressed his optimism about the partnership, saying, “We eagerly look forward to this collaboration and believe that the complementary strengths of all parties will inject new vitality into the Healthcare delivery sector in Africa, particularly addressing the medical needs of over 1.9 million HIV-infected individuals in Nigeria, a focus of Aidea Pharma.”
Emphasising the project’s timeliness, Ayebae noted that the proposed manufacturing facility arrives at a crucial moment as the Nigerian government, through its National Agency for the Control of AIDS (NACA) and its director-general, Temitope Ilori, intensifies its efforts to provide a supportive environment and necessary backing for pharmaceutical companies to commence local production of Anti-Retroviral drugs (ARVs).
