The leading Nigerian pharmaceutical company, Fidson Healthcare Plc, has recently made a giant leap toward addressing Nigeria's pharmaceutical needs by entering into an agreement with the American company, GB Pharma Holdings. Their business agreement is expected to provide Fidson with the guidance it needs to establish its foothold within the US and to develop strategic relationships with other business entities.
Of all these entities, US Pharmacopeia (USP) is the most critical. It will insure Fidson's growth by helping it sustain U.S. and international standards. Founded in 1820, this scientific nonprofit organization will share with Fidson its expertise by overseeing the identity, strength, quality and purity of medicines, food ingredients and dietary supplements that Fidson will manufacture and distribute.
With the support of GB Pharma Holdings, Immune Therapeutics Incorporation [OTCQB: IMUN], and American Hospitals & Resorts, Fidson will gain from this partnership exclusive distribution rights to the internationally recognized immune therapy LodonalTM (Low Dose Naltrexone). It is expected that such collaboration will bring global recognition to Fidson's pharmaceutical enterprise.
As Fidson's Managing Director and Chief Executive Officer. Dr. Fidelis Akhagboso Ayebae has turned his company into a leading Nigerian pharmaceutical company, which is publically traded with annual US earnings of $60.5 million, making it one of the largest such pharmaceutical companies in Nigeria.
"My goal," Dr. Ayebae said, "is to provide Nigerians with excellent quality pharmaceuticals at affordable prices. I am very confident that working with USP will help me achieve this end."
To prepare for major growth, Dr. Ayebae has invested $55 million into building a six-line pharmaceutical manufacturing plant in Osun State, Nigeria. The new plant is expected to more than double production and expand Fidson's outreach into Nigeria and Africa.
Dr. Gloria B. Herndon, President and CEO of GB Pharma Holdings of Washington, DC, will assist in this growth. Positioned to provide affordable and sustainable healthcare solutions throughout Africa, she will be a behind-the-scenes catalyst that will offer specialized expertise and outreach for helping Fidson develop its pharmaceutical market.
"Our business arrangement will give Dr. Ayebae access to a variety of our products that are approved by the Nigeria's National Agency for Food and Drug Administration and Control's regulatory body," Dr. Herndon said. "This includes the wonder drug LodonalTM which has been proven to be a true wonder drug for combating HIV and other immune system diseases. For this reason, we believe it will save many lives in Africa and beyond."