To support Africa’s goal of strengthening its production of medicines and reducing its reliance on imports, the International Finance Corporation (IFC) and Nigeria’s Fidson Healthcare Plc. have partnered to develop Nigeria’s capacity to produce active pharmaceutical ingredients (APIs).
Through the partnership, IFC and Fidson will conduct a feasibility study to assess the level of investment, skills, and regulatory protocols required to develop Nigeria’s manufacturing capabilities for APIs, which are integral to the production of pharmaceuticals.
The results of the feasibility study will inform the strategic and operational direction that Fidson will take as it pursues its longer-term goal of becoming an end-to-end pharmaceutical producer that produces APIs for use in its own production process, as well as being a supplier to other pharmaceutical companies.
According to a report by LEADERSHIP, the chief executive officer of Fidson Healthcare Plc, Dr Fidelis Akhagboso Ayebae, said Africa lags behind other parts of the world in pharmaceutical ingredient production, leaving it dependent on imports for about 70 per cent of the medicines it needs. By contrast, Ayebae said in China and India, drug imports average only about five per cent and 20 per cent, respectively.