Fidson Healthcare, Ohara Pharmaceutical partner to enhance growth in health sector

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Story by Olabode Jegede

Fidson Healthcare Plc has partnered with Japan’s Ohara Pharmaceutical Company to enhance growth in the health sector, both the Nigerian and Japanese markets with the latest products and services.

In a statement on the Nigerian Stock Exchange (NSE), signed by the company secretary, Yomi Adebanjo, stated that the alliance was a result of the recent right issue which grew Ohara’s shares in Fidson Healthcare to 21.57 per cent.

He noted that, Ohara will bring a cutting edge technology and innovation through technology transfer, expertise, and knowledge sharing to enhance Fidson’s excellence and ascendency in Nigerian pharma space.

According to him, “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.

“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.”

Fidson Healthcare had successfully raised N2.34 billion from its shareholders to recapitalise its operations, falling short from N3 billion set out through a rights issue to existing shareholders.

The company had offered 750 million ordinary shares of 50 kobo each through a rights issue to existing shareholders at N4 per share. The rights issue was pre-allotted on the basis of one new ordinary share for every two ordinary shares held as at December 28, 2018.

Regulatory filing however showed that shareholders subscribed to 586.36 million ordinary shares of 50 kobo each at N4, implying a subscription level of 78.18 per cent.

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