Shareholders of
The shareholders,
Nemeith recorded a profit after tax of N212 million for the year ended
Orjiako said the company had put together a two pronged expansion plan to boost its performance and increase value for investors.
Speaking, the National Coordinator,
According to him, the expansion programme should be done in phases to give room for flexibility and reviews.
Also speaking, another shareholder, Mr. Nornah Awoh, said the expansion would come with many opportunities and urged the company to shore up the top line even if it means to source for more soft loans.
Another shareholder, Chief
Orjiako had explained that the expansion plans involved an upgrade of current plant at Oregun,
"Our plan is to significantly upgrade the Oregun factory and enhance its output and ensure continued compliance with current standards of Good Manufacturing Practice (cGMP)" he said.
According to him, this plant upgrade will be funded with a loan from the
Also speaking, Managing Director/CEO of Neimeth, Matthew Azoji, said the plan was to make the company become a manufacturing hub for medicines and centre of excellence for pharmaceutical development in
"When this is done, the plant will offer foreign and local contract manufacturing services for drug production, research and development, formulation and validation services among others. Local and international brand owners will be encouraged to use the facility for manufacturing of their products at the same standards obtainable anywhere in the world," Azoji said.
Copyright This Day. Distributed by AllAfrica Global Media (allAfrica.com)., source