vannessa7:



Thanks for this, my first thought after reading the thread was how everywhere is filled with paracetamol, karaole, alabunkun, and many other analgesic, so many brand of amoxicillin everywhere, but the the thoughtless, hate filled, illiterates have already started dropping their poo all over the thread, doing what they know how to do best. General nuisance and obnoxious.

you are welcome. paracetamol is simply the generic name for panadol or panadol is the GSK's brand name for paracetamol. Thats the problem GSk faces, everybody is manufacturing paracetamol. The global pharmarceutical industry has a problem that most of their drugs are out of patent, which is why india has become a mecca for the manufacture of cheap off patent drugs. its also why they were keen to push the Covid vaccine because it gave global pharmaceutical companies a windfall after years of poor returns due to few new drugs coming on the market....even the last major widely used blockbuster windfall drugs from the pharmarceutical industry i.e viagra and cialis are no longer under patent.

Indian's are taking over

HNICEARTH:


Well done mr. Ignoramus.

Dont digress into GSK selling off a portfolio and all that. That's not the bone of contention.

Your line of arguement is that a big company like GSK having a staff strength of 290 is poor. Dont run away from that. I still went ahead and schooled you on what were the basic rudiments in production.
We've been there, we've done that.

The type of you will never succeed in production. Send a proposal to BOI with this mentality, and see how it will be trashed with the speed of light.

However, I will still go ahead and engage you in your new line of arguement.
GSK nigeria has a production plant in nigeria. The organisation is managed by nigerians. Most shareholders are nigerians and the company is a player in the NSE. you are now comparing such an organisation to a one man business that import drugs from india or china and give to graduates on the streets to sell. You are definitely on kolos

First of, importing from india and china means we are outsourcing jobs to china and india. We are not adding to value to the production line. We only succeed in keeping Indians and chinese employed. Same time wasting our hard earned forex while making india and china richer.
Those companies that import from china and india, pls mention any one of them that is a player in NSE-none.
In Nigeria pharma industry, GSK are basically at the top when it comes to staff enumeration and welfare. They are top shelf. None of those mushroom companies who import pay their staff as half as GSK. Not to talk about car policies for the field reps and other welfare packages.

No matter how expensive their brands are and the competition there in, they still remain the brands of choice in all states and federal teaching hospitals, in all FMCs, in all boutique private hospitals and in all boutique pharmacies nationwide.
Their business model was never to sell to 200m nigerians, they are out to service all the elites. That's why their products are best in class

I wish i can like your comment a thousand times. These guys just devise a strategy from their WhatsApp group to counter any attempt at showing Nigerians the true picture of the economic situation we are in.

"The Haleon Group has also separately informed the Board of its intent to terminate its distribution agreement in the coming months and to appoint a third-party distributor in Nigeria for the supply of its consumer healthcare products."

If you are in pharmaceutical marketing and sales...you will understand this is pure business strategy...it has little to do with Nigeria's business environment...and of course, it is not because of any competition.... because, in pharmaceutical sales in Nigeria, no one comes close to GSK.

What this company has done is not new... multinationals that do not have manufacturing plants in Nigeria and that can comfortably make her sales will be looking at every means of reducing risks... international risks associated with workforce and debt recovery.

If a third party can comfortably import directly from manufacturing company and distribute..meeting manufacturers production and sales targets and manufactures can get their payments without any stress and risk of having workforce, office space in international country...why won't they take it?

I just hope the workforce they are laying-off are well compensated.

NB: Experience shows organisations that do this will still come back....5-10years max

HNICEARTH:


Well done mr. Ignoramus.

Dont digress into GSK selling off a portfolio and all that. That's not the bone of contention.

Your line of arguement is that a big company like GSK having a staff strength of 290 is poor. Dont run away from that. I still went ahead and schooled you on what were the basic rudiments in production.
We've been there, we've done that.

The type of you will never succeed in production. Send a proposal to BOI with this mentality, and see how it will be trashed with the speed of light.

However, I will still go ahead and engage you in your new line of arguement.
GSK nigeria has a production plant in nigeria. The organisation is managed by nigerians. Most shareholders are nigerians and the company is a player in the NSE. you are now comparing such an organisation to a one man business that import drugs from india or china and give to graduates on the streets to sell. You are definitely on colos

First off, importing from india and china means we are outsourcing jobs to china and india. We are not adding value to the production value chain. We only succeed in keeping Indians and chinese employed. Same time wasting our hard earned forex while making india and china richer.
Those companies that import from china and india, pls mention any one of them that is a player in NSE. none!
In the Nigerian pharma industry, GSK are basically at the top when it comes to staff enumeration and welfare. They are top shelf. None of those mushroom companies who import pay their staff as half as GSK. Not to talk about car policies for the field reps and other welfare packages.

No matter how expensive their brands are and the competition there in, they still remain the brands of choice in all states and federal teaching hospitals, in all FMCs, in all boutique private hospitals and in all boutique pharmacies nationwide.
Their business model was never to sell to 200m nigerians, they are out to service all the elites. That's why their products are best in class

you are free to have bone of contention with yourself. my point has been made, those who want to be enlightened have taken something from what I said, those keyboard warriors who always look for negativity and something to argue about will always keep arguing...i aint got time for that.

HNICEARTH:


Well done mr. Ignoramus.

Dont digress into GSK selling off a portfolio and all that. That's not the bone of contention.

Your line of arguement is that a big company like GSK having a staff strength of 290 is poor. Dont run away from that. I still went ahead and schooled you on what were the basic rudiments in production.
We've been there, we've done that.

The type of you will never succeed in production. Send a proposal to BOI with this mentality, and see how it will be trashed with the speed of light.

However, I will still go ahead and engage you in your new line of arguement.
GSK nigeria has a production plant in nigeria. The organisation is managed by nigerians. Most shareholders are nigerians and the company is a player in the NSE. you are now comparing such an organisation to a one man business that import drugs from india or china and give to graduates on the streets to sell. You are definitely on colos

First off, importing from india and china means we are outsourcing jobs to china and india. We are not adding value to the production value chain. We only succeed in keeping Indians and chinese employed. Same time wasting our hard earned forex while making india and china richer.
Those companies that import from china and india, pls mention any one of them that is a player in NSE. none!
In the Nigerian pharma industry, GSK are basically at the top when it comes to staff enumeration and welfare. They are top shelf. None of those mushroom companies who import pay their staff as half as GSK. Not to talk about car policies for the field reps and other welfare packages.

No matter how expensive their brands are and the competition there in, they still remain the brands of choice in all states and federal teaching hospitals, in all FMCs, in all boutique private hospitals and in all boutique pharmacies nationwide.
Their business model was never to sell to 200m nigerians, they are out to service all the elites. That's why their products are best in class.

God bless you for this master piece.

GSK Is In a Class of Its own. Very superb company.

Infact I'm somehow worried now because their Panadol Extra is the only effective drug that cures my Headache.

Alabukun does come close too but the rest doesn't work for me.

obyno82:


Please tell me which Nigerian pharmaceutical company can compete well with GSK, please do not mention Fidson because they themselves too are also in this shit situation as well.

i dont know much about fidson, i just mentioned them to show that a local company started recently is almost comparable to a multinational as far as impact is concerned.

if they are all struggling then it is a problem with cheap indian imports. Again the point is GSk's products are out of patent.

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obyno82:


dude before you start yapping nonsense, why not look at the value chain in the pharmaceutical business for a country like Nigeria 290 is far okay considering the multiplier effect in indirect jobs and the pharma industry has a high emphasis on Quality control standards, so it is not about employing a large workforce, but ensuring lean manufacturing by way of Automation. Astra Zeneca doesn't have as much employees as Heineken Netherlands. The issue is that the company through indirect jobs employs maybe up to 900 staff. The issue is that the harsh business environment is impacting everyone, so please stop this feeble attempt at downplaying the situation we are in.

Please read to comprehend, i know we have a general problem with English in Nigeria. Global pharmaceutical companies have a fundamental problem. Most of their drugs are out of patent and they are competing with generic manufacturers either locally in Nigeria or imports from india. The well heeled may decide to buy augmentin for N10,000 but in a poor country the man on the streets who constitute the majority is not going to buy augmentin for N10,000 when he can buy the same drug (amoxicilin) for N1,000. If you dont understand that very basic and simple concept...........then I cant help you.

Even the mighty NHS imports its drugs in the form of generics (i.e out of patent) from india


https://timesofindia.indiatimes.com/blogs/staying-alive/britain-is-doing-big-pharmas-bidding-and-harming-itself-by-trying-to-curb-indian-generics/

I am sure you can read the above, whether you are able to comprehend is another matter.

XtraFortunes:
Tinubu is a Calamity.

His wicked policies have sent this renowned company packing. The country has become hostile to businesses

Yet some retarded zoombie BATs would be asking people not to leave the country, because they earn high, you can see that high paying jobs can disappear too because of bad Govt policies

Tinubu the cocaine sniffing vagabond would definitely be disgraced out of office.

#PODatti is coming

Peethief Obi Pandora and Datti can never rule Nigeria, even both of them knew that

Multiversed:


God bless you for this master piece.

GSK Is In a Class of Its own. Very superb company.

Infact I'm somehow worried now because their Panadol Extra is the only effective drug that cures my Headache.

Alabukun does come close too but the rest doesn't work for me.

Their products will still be available via 3rd party distributorship. However, it might not readily be available, depending on how savvy and vast the distributor is. Means you might have to put in extra effort to get it. Also means that there might be high chances of counterfeit.

It is well

casualobserver:


you are free to have bone of contention with yourself. my point has been made, those who want to be enlightened have taken something from what I said, those keyboard warriors who always look for negativity and something to argue about will always keep arguing...i aint got time for that.

Its not always about politics, emotions, good or bad as you guys will always want to paint it.

It's always about business, and the business of business will always be business.

Shalom

GSK UK Group has informed GlaxoSmithKline Consumer Nigeria PLC of its strategic intent to cease commercialization of its prescription medicines and vaccines in Nigeria.

The Company made this announcement via an official statement signed by Company Secretary, Frederick Ichekwai which was sent to the Nigeria Exchange Limited (NGX).

According to its unaudited HY 2023 financial statement, the company noted that it would appoint a local third-party distributor in Nigeria for the supply of its consumer healthcare products.

Read more: https://apps.apple.com/us/app/scooper-news-news-around-you/id1644044109

taylor88:
Doctors and nurses are leaving

Now the almighty Glaxosmithkline has left after 51yrs

By the end of 2025 we will be left with native doctors and Dr. igodo koko cleansers

EBola Tinubu the tax collector is actually working

Abi you no dey feel am?

Lol, so if it were Obi in power they wouldn't have left??
E don dey all of una blood sha, NO CONSCIENCE!

obyno82:


I wish i can like your comment a thousand times. These guys just devise a strategy from their WhatsApp group to counter any attempt at showing Nigerians the true picture of the economic situation we are in.

To them, everything is politics. DO NOT PAINT MY PRESIDENT IN A BAD LIGHT.
Even if the country is failing, it shouldn't be talked about.

That was how Buhari was pampered for 8yrs.
Now Tinubu and ribadu are confessing that they inherited a horrible economy from buhari. But they had the opportunity to criticise and talk him out of his bad policies, but they choose to be silent for 8yrs just because of their selfish ambitions.

casualobserver:



Please read to comprehend, i know we have a general problem with English in Nigeria. Global pharmaceutical companies have a fundamental problem. Most of their drugs are out of patent and they are competing with generic manufacturers either locally in Nigeria or imports from india. The well heeled may decide to buy augmentin for N10,000 but in a poor country the man on the streets who constitute the majority is not going to buy augmentin for N10,000 when he can buy the same drug (amoxicilin) for N1,000. If you dont understand that very basic and simple concept...........then I cant help you.

Even the mighty NHS imports its drugs in the form of generics (i.e out of patent) from india


https://timesofindia.indiatimes.com/blogs/staying-alive/britain-is-doing-big-pharmas-bidding-and-harming-itself-by-trying-to-curb-indian-generics/

I am sure you can read the above, whether you are able to comprehend is another matter.

Dude stop trying to rationalize bull shit, Glaxo is one of the best pharmaceutical companies in Nigeria and for them to leave is an indication that all is not well. Bros fear God and speak the truth for once. Haba!!

so it's a consequence of the new exchange rate. it makes sense for them to just follow a distribution model and reduce operating costs which is too high in nigeria.

I see other multinationals doing the same

MeineMutter:


It’s not because they can’t produce at low cost. It’s because GSK doesn’t bri.be.l and there Asian companies do without blinking eyes.

It’s one the reasons P&G left Nigeria.

I worked with GSK for over 10 years as a senior manager and I know the system like the back of my hands.

With the level of Naira falling, the products would be too costly for Iberians to buy because GSK builds one of the best pharmacies products in the world.
We shouldnt forget that the company has billions stock in Nigerian banks which it hasn’t been able to repatriate, for years, due to our CBN policy.

I was sad when I was briefed that there would be an all hands meeting yesterday because I already knew that would be the outcome of the meeting.

I really miss my company.

I talk am say when the hardship don finally cook well na this idiotic BAT supporters go carry their broom sweep this abomination occupying the villa

mariahAngel:
They no longer want to operate in Nigeria, but still want to sell their products through a 3rd party distributor?

No be by force to buy Panadol

No wonder i bought panadol extra for 400 naira

taylor88:
Doctors and nurses are leaving

Now the almighty Glaxosmithkline has left after 51yrs

By the end of 2025 we will be left with native doctors and Dr. igodo koko cleansers

EBola Tinubu the tax collector is actually working

Abi you no dey feel am?

Hahahahaha..... funny you...
Poor fellows. They sell Ventolin but still couldn't brrrrreathe....

We all are leaving Nigeria. am on my way from Cotonou to Brazil by ship. I will join u soon. Tinubu must go and fight in Niger against Vladimir Putin's West African force. I must not be be among the 50 million Nigerian youths he intends to recruit into the man. That man is on drugs

taylor88:
Doctors and nurses are leaving

Now the almighty Glaxosmithkline has left after 51yrs

By the end of 2025 we will be left with native doctors and Dr. igodo koko cleansers

EBola Tinubu the tax collector is actually working

Abi you no dey feel am?

BAT/APC finally pursued them away.
We see how they attract investors.

References:




https://www.thecable.ng/gsk-nigeria-shuts-down-operations-to-return-capital-to-shareholders/amp

Ebola Tinubu is a failure already

When Tinubu said he is going to continue with Buhari's evil works people thought he was joking. Tell any good news that has come out of Nigeria since these devils took over. Sinking Nigeria to new lows is now the order of the day and yet some people do not see that APC is hellbent on sending Nigerians back to the stone age. Shebi they have said people should be using bikes while they drive around in bulletproof SUV's.
Soon they will ask Nigeria to start consuming local herbs as most pharm companies and indeed many companies I know of, even companies you could never Imagine could be affected by the economic downturn of Nigeria are packing up operations and leaving. What have we done to ourselves in this country all because of mindless tribalism, religious bigotry, and sheer foolishness?
It started with Buhari and now the drug baron is speeding up the destruction of Nigeria.

taylor88:
Doctors and nurses are leaving

Now the almighty Glaxosmithkline has left after 51yrs

By the end of 2025 we will be left with native doctors and Dr. igodo koko cleansers

EBola Tinubu the tax collector is actually working

Abi you no dey feel am?

As in, it shall not be well with the Ebola druggie and all gullible Agbadorians

obyno82:


Dude stop trying to rationalize bull shit, Glaxo is one of the best pharmaceutical companies in Nigeria and for them to leave is an indication that all is not well. Bros fear God and speak the truth for once. Haba!!

If GSK were able to develop and patent a medicine that can give sense to the brain dead, they wouldn’t have to leave Nigeria as your post clearly Indicates, they are a lot of Nigerians that need such a pill.

why dem no go leave?
everything in the country is diverted. look at TETFUND. dem tax companies profits 2percent to fund TETFUND, but they distribute the money anyhow. you go see people study PHD in UK with tetfund funds and after, dem no go come back !
they are diverting companies profits to japa.
they use it to fund their lifestyles, buy houses, cars.
what sort of people are nigerians
tenant no go pay rent for years, claiming and begging no money, but the money is being used to build his own house.

this way, GSK is not taxed in nigeria. you supply your drugs to distributors and they pay for it beforehand. GSK is hands off.

the corruption in nigeria is just bad. its just better to keep the business in a stable and corrupt free country like Ghana and just distribute the products to Nigeria.

When Glaxowelcome wanted to leave after evaluating Buhari's economic policies, Smithclin came on board claiming to be expert in navigating the Nigerian ogbanje economy. The two companies merged and that gave birth to Glaxosmithclin. Later on, Becham joined them to form Glaxosmithclinbecham. Today, they announced their intent to japa. If the citizens are japaring why not a foreign company?

The irony is that their products has hits the roof instead of it spiralling down due to their closing shop .
Augmentin 625 goes as high as 15k from 3800 about this time last year .
Ampiclox beecham is now 7k a card from 6h last year.
Panadol variants has gone same way .
This is ridiculous.

When Glaxowelcome wanted to leave after evaluating Buhari's economic policies, Smithkline came on board claiming to be expert in navigating the Nigerian ogbanje economy. The two companies merged and that gave birth to Glaxosmithkline Later on, Becham joined them to form Glaxosmithklinebecham. Today, they announced their intent to japa. If the citizens are japaring why not a foreign company?