Neimeth Pharmaceutical Plc launches three new products
January 30th, 2008 Tunde Brown || tunde.brown@stockmarketnigeria.com
By Tunde Brown
Less than three months after floating its two new subsidiaries, Neimeth Pharmaceuticals Plc has taken another giant stride in the direction of boosting profitability through new entry into under-exploited avenues to enhance shareholders’ wealth. In an effort to meet its targeted N10 billion turnover by year 2010, the company has launched three new products namely: Flucosyd, Flexodene and Gyno-tiocosid into the pharmaceuticals market.
At the official launching of the products, the Chief Executive Officer, who was represented by the company’s Vice President, Human Resources, Alhaji Z. Momodu, said that the new products were being offered to Nigerians at affordable prices to meet their health challenges. Specifically, the three products according to the company are meant to provide solution to the problem of fungal and dysmenorrhoea infections today’s woman (particularly in Nigeria) faces.
Flucosyd is a brand of Fluconazole, an oral antifungal agent indicated for the management of vaginal candidiasis and other fungal skin infections, while Gyno-tiocosid is a brand of tioconazole, used in the treatment of thrush, and Flexodene, a brand of piroxicam is used for the management of primary dysmenorrhoea. These products, the chief executive officer added, are fallouts of the company’s research and development strategies. He further disclosed that there were more products in the pipeline to be launched this year.
In the company’s half-year results released recently, its profit after tax increased to N90.8 million, up from N69.1 million same period last fiscal year. Similarly, the turnover stood at N912.5 million as against N729.9 million in the corresponding period, representing a 25 per cent increase. As at the close of market activities on the 29th of January 2008, the company’s share price stood at N6.15k. However, as at the end of the second quarter (September 2007) its earning per share was N0.12k.
(No Ratings Yet)
Loading ...