In 51 years, most of the breakthroughs in research must have been done in the UK. One of the challenges is that we have not developed systems to even encourage local viability and sustainability of these companies. What I am saying is other than monetary profits, there are no major achievements when it comes to new products and solutions for the local market. Why couldn’t GSK have partnered with a UI or OAU for instance to co-research and develop a local drug with local resources.
But then, what the govt cares about is tax. The business space is getting more competitive and organizations are looking for value beyond monetary gains.

DaddyFreeze2020:


Igbos are still richer than you...online noise maker.
Igbos don't beat chest for nothing

I want to assume you know what's in everybody's account. Empty drums make the loudest noise...after all dangote is the richest black man and he doesn't even carry it on his head like you greasy ball migrants....you ant brains have no place in history

maivd:

I want to assume you know what's in everybody's account. Empty drums make the loudest noise...after all dangote is the richest black man and he doesn't even carry it on his head like you greasy ball migrants....you ant brains have no place in history

What's your own relationship with Dangote? Is he your Father?
Did I compare any Igbo man with Dangote?
I'm referring to you. I said most Igbos are richer than you

frog12:
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

Only strong distributors like WWCVL and FarEast Merchantile can take the risk of importing at such high cost.

It’s good we watch out for substandard or imitated products among our unscrupulous importers.

I am sure Sanofi and co would be happy.

HNICEARTH:


Again, all depends on the 3rd party distributor's understanding of business, vision, business policy to navigate the harsh business environment. Remember he would also want to make good profit.

If the 3rd party distributor decides to work with only wholesalers around the federation (which is possible because GSK consumer brands are well known), then he is trying to maximise profit margin per product, and minimise risk at the expense of high turnover.

If he decides to have reps, then he is chasing high sales turn over, minimal profit margin per product ( if you factor in running cost of reps) and high profit margin in cumulative sales. Same time he will be exposed to more risk.
However, he will never be able to pay reps and roll out employee welfare packages as GSK did. They are the manufacturers, they make a whole lot of profit on these products and it gives them leverage to offer employees good remuneration. A 3rd party distributor is just same as importing product from china or india- in fact this might even be more profitable than the 3rd party GSK distributor.

If the new organisation chooses to go with rep, truth is they will pay for expenses other remuneration, but it will never be as good as GSK

Thank you for this.i now understand

Tinubu effect...more to go

mariahAngel:


But not harsh enough for sales.

My sister, I tire.

These people like to think they have sense.

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?

Yeye ... Even blackberry closed down for saner climes... New companies will always emerge lover of bad news ... Afofungbemu

casualobserver:


My friend you are the ignoramus. GSK globally as a company has been having problems for a long time. Their drug pipeline and drugs under patents have been shrinking. They even had to sell their Lucozade and Ribena business some years ago to help restructure their business. Like I said the problem with GSK is they don’t have enough drugs under patent. Stop viewing g everything Nigeria as bad news. You should be celebrating that Nigerian companies are effectively competing with foreign pharmaceuticals to they point where our local companies are driving them out of business and keeping the profits in Nigeria.

Name a drug/vaccine GSK sell in Nigeria and I will tell you the generic equivalent either manufactured in Nigeria or Imported from India.

This pull out is not about Nigeria but about the uncompetitiveness of GSK.

Like I said the fact that a local pharmaceutical Fidson has a staff strength of 219 compared to the 280 for a big multinational GSK with all their power and might tells you they never had or had lost market share in Nigeria.

Be it pharmaceuticals, FMCG we should all be celebrating that local manufacturers are coming of age and driving the multinationals away. Be it things like yoghurt, soft drinks, beer, medicines, soaps, edible oil, foodstuffs etc, Nigerian manufacturers are coming of age, holding their own and beating the multinationals and driving them out of the country.

Is there an alternative for Ventolin inhaler? I fear for my little nephew that is asthmatic...

Why are we just going back everyday by day?

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

It was the third party that is actually begging them to distribute their products.

Nigeria no be good market for any product.

Company that rakes in billions of dollars in America and Europe in profits, wetin them go use the 50 50 naira wey them dey make for Nigeria dey do?

[quote author=References post=124876966][/quote] Ribena and Lucozade

Multiversed:
Ahh My Panadol Extra oOo

That's my Best and Most Effective drug for Normal and Migraine Headache.

Anytime I feel any type of Headache, Once I use Just two Tablet of Panadol Extra, The Headache will disappear in few Minutes.

Seems I will go and buy like Two Packs now oOo😧

Try Sudrex. It is extremely effective against headaches. It clears my headaches in less than 10mins - even those caused by lack of sleep.

adioolayi:
"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

Can you cite an example of an organization that exited and returned?

odimbannamdi:


Is there an alternative for Ventolin inhaler? I fear for my little nephew that is asthmatic...

Stop being drama queens or talking like brain dead people. Was the ventolin inhaler ever manufactured in Nigeria for the 59 years that GSK were in Nigeria? The answer is no. Do all the foreign medicines in Nigerian pharmacies come from companies who have a physical presence in Nigeria, the answer again is no. Does GSK exit fron Nigeria mean they won’t have a representation, skeletal staff or agent for Nigeria? Again the answer is no.

Bottom line does GSK leav8ng Nigeria mean you can’t get paradol and other GSK products like ventolin, the answer is No!

Blessedchild24:

Thank you for this.i now understand

You welcome

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

How many of such investors did your messiah Obi attract as a governor for 8 yrs. Or is it that cry cry baby Datti that was booted out of senate for mandate theft that will bring anything brilliant?

Most foreign owned pharmaceutical are switching to this model. They authorize a local company for marketing and distribution of their products whil manufacturing is done from abroad. This is one of the many challenges forex shortage has caused.

DaddyFreeze2020:


What's your own relationship with Dangote? Is he your Father?
Did I compare any Igbo man with Dangote?
I'm referring to you. I said most Igbos are richer than you

Nah men you got it wrong....you don't know me. I am gonna give you all the bragging right but I stand tall and correct.

ecolime:

This means the operating environment is harsh and not conducive enough for their operations.


Guys, lets just pray we don't have major sicknesses. Almost all the best Doctors in Naija are leaving this country in droves.

Went for a routine checkup earlier, my Physician don JAPA. His replacement looks and talks clueless.

Na young Doctors full everywhere. Dem be like IT students.

Please submit yourself to these young doctors...how else will they get experience ?

Hmmn, unemployment rate about to increase, God help us in times like this.

casualobserver:


Stop being drama queens or talking like brain dead people. Was the ventolin inhaler ever manufactured in Nigeria for the 59 years that GSK were in Nigeria? The answer is no. Do all the foreign medicines in Nigerian pharmacies come from companies who have a physical presence in Nigeria, the answer again is no. Does GSK exit fron Nigeria mean they won’t have a representation, skeletal staff or agent for Nigeria? Again the answer is no.

Bottom line does GSK leav8ng Nigeria mean you can’t get paradol and other GSK products like ventolin, the answer is No!

Was the emboldened necessary? Couldn't you have your point without the insults? You said we should name any product from GSK for you to provide an alternative and I did so from a sincere place but you are retorting with an insult. Or you think I was playing around when I said my nephew is asthmatic?

You have been making salient points about the stiff competition GSK is facing in the hands of local manufacturers and importers, but you cannot discount the fact that harsh economic realities brought on by recent economic policies has significantly contributed to this strategic exit decision GSK has taken.

ecolime:

This means the operating environment is harsh and not conducive enough for their operations.


Guys, lets just pray we don't have major sicknesses. Almost all the best Doctors in Naija are leaving this country in droves.

Went for a routine checkup earlier, my Physician don JAPA. His replacement looks and talks clueless.

Na young Doctors full everywhere. Dem be like IT students.

Wallahi

odimbannamdi:


Try Sudrex. It is extremely effective against headaches. It clears my headaches in less than 10mins - even those caused by lack of sleep.

Thanks I appreciate this.

ecolime:

This means the operating environment is harsh and not conducive enough for their operations.


Guys, lets just pray we don't have major sicknesses. Almost all the best Doctors in Naija are leaving this country in droves.

Went for a routine checkup earlier, my Physician don JAPA. His replacement looks and talks clueless.

Na young Doctors full everywhere. Dem be like IT students.

True. People should take their health very serious now.

Why don't they sell their nigeria manufacturing arm, am sure there are people who would have bought it.
Nigeria is a huge market and there is profit to be made.

So.. I'll miss my favorite Maclean Toothpaste... 😥😥😥😪😥😪

bukatyne:


My sister, I tire.

These people like to think they have sense.

Imagine; they're taking jobs away from Nigerians, but still want to sell them their products.
The environment is not conducive for operations, but good for sales.
Exploitation much.

The worst part is that most Nigerians don't even see they're being cheated, making excuses for these companies, and blaming the government for everything.

Abeg o, na that una panadol dey cure all my sickness since I was born

it's a foreign company. what do you want from them?

you have to blame government, because no improvement on the ground so far.

mariahAngel:


Imagine; they're taking jobs away from Nigerians, but still want to sell them their products.
The environment is not conducive for operations, but good for sales.
Exploitation much.

The worst part is that most Nigerians don't even see they're being cheated, making excuses for these companies, and blaming the government for everything.

References:




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

Buhari has finished all companies in Nigeria and he is pushing tinubu to go to war.