Harder times for Nigerians as leading international pharmaceutical Sanofi announces it's exit from the Nigerian market on the heels of GlaxoSmith exit...for those with interest in the the Pharmaceutics market this is a really huge blow as Sanofi is the last bastion for cheap quality antibiotics .

Why is the govt sitting back and allowing these guys leave like this?

Sanofi-Aventi Nigeria, a leading multinational pharmaceutical company, has disclosed its plans to discontinue direct operations in Nigeria in 2024.

This comes barely four months after GlaxoSmithKline (GSK) announced its exit from the Nigerian market, due to unfavourable economic forces after 51 years of operations in the country.

In a memo addressed to stakeholders in the healthcare industry on Tuesday titled “Sanofi adopts new business model in Nigeria”, signed by the Country Lead, Folake Odediran, and sighted by pharmanewsonline, it was stated that the global pharma company will be embarking on a transformative business model in Nigeria from February 2024.

The company explained that its new model will enable the commercialisation of Sanofi portfolio of medicines by a yet to be named 3rd party distributor.

"With effect from February 2024, our company will embark on an exciting transformation of its business model in Nigeria. In our new model, commercialization of Sanofi portfolio of medicines will be driven solely by a 3rd party soon to be named.

“The strategic move represents a significant milestone for our organisation and is driven by our commitment to continually improve access to our medicines and to better serve our patients and the Nigerian health system”.

She further disclosed that the multinational pharma giant is already in discussion with its employees, partners and major stakeholders to ensure a smooth and transparent transition process.

Odediran assured stakeholders on the commitment of the company to provide more value to patients, stating that that is the major reason for the adoption of the new model.

She said details of the new development will be provided in days ahead through media announcement.

“We have commenced with our employees, partners and key stakeholders, to ensure full transparency. In the coming days, we will make public announcement through the media. However, we recognise that our relationship with stakeholders is paramount and we wish to share this information with you in advance”, she revealed.

Sanofi is a global life sciences company committed to improving access to healthcare and supporting the people they serve throughout the continuum of care.

From prevention to treatment, Sanofi’s scientific innovation into healthcare solutions, cuts across human vaccines, rare diseases, multiple sclerosis, oncology, immunology, infectious diseases, diabetes and cardiovascular solutions and consumer healthcare.

https://pharmanewsonline.com/sanofi-to-discontinue-direct-operations-in-nigeria-soon/#:~:text=Sanofi%2DAventi%20Nigeria%2C%20a%20leading,operations%20in%20Nigeria%20in%202024.

Renewed hope

How much drugs like Augmentin go com b bayi? 🙆

Inflation keep on rising by the day. Very unfortunate seriously

The truth is that Nigeria’s only hope to attract FDI is their diaspora.

When the diaspora invest and succeed, it gives other foreign investors confidence to also invest.

This past election left a bitter taste and has drastically reduced diaspora remittances.

The only thing Nigeria can do is to elect a good transparent leader that will restructure and open up the economy while actively engaging the diaspora to come home to invest.

This is not good.

Augumentrin that is used in hospitals that help CS women heal faster, that is usually bought at 5K/7K is now 32/34K because of events as these.

Government should please do something about this...

Unfavourable government conditions push them out! Pathetic!

It's so unfortunate that people who do not understand economy in this critical time hijacked governance and enmeshed everyone in this mess. E no go better for INEC, APC and emilokan gangs.

E go reach everybody. Expect more suicide between today and January 31st.
Nigeria will make headlines for very ugly deaths in the international media.
Anyone that protests should be shot.

Terrible

Very bad. Asiwaju destroying this nation. Joblessness looms

Augmentin= 35 k per pack instead of 7k per pack. indeed this is a wrong time to be sick or to need medication in Nigeria .
am supposed to say; may God help Nigerians but it's seems like even God himself is already tired of Nigerians, therefore all i can say is this; may Nigerians help themselves.

Ehen?
.
Dem no dey get customers again?

Wow. Good. We have to kill importation according to Tinubu's agbado irritants. Local production is the way to go!!
Agbo jedi is a good substitute to the chalks and powders these people claim to be making. Iya Alagbo will earn us badly needed forex to turn our economy around.
The failed pharmacist hawking audio free stuffs can now dust his pharmacy Certificate and provide jobs in the pharmaceutical sector instead of hating on doctors out of inferiority complex

Mehn everyone is moving...

The previous government should be blamed also... Tinubu met missedup government..

It will take grace of God to clean this country

Finally tinubu has successfully slowed down the economy. The FX he is seeking for those that bring it in are leaving so how would he accomplish his mission. I need someone to educate me on tinubu's agenda cos I'm not seeing anything positive from his policy

Nawa ooo. I was shocked when they sent me the mail too.

Oh God help Nigeria.

Many gonna end up jobless

On his Mandate We Stand!

This exist will favour me and my Family!

Tinubu built Lagos, e reach Nigeria turn, cement finish. He can't build again.

Take me there, take me there.... He keeps shouting. They have taken him there, Baba no longer knows his left and right.

I pity the less privileged and those who barely eat 3 square meal in a day.

Ikaeniyan0:
How much drugs like Augmentin go com b bayi? 🙆

My wife told me this morning that a pharmacy in Asaba sells it at over 20k I was speechless. How I was buy only 1 child drug for that amount. We are in for a long ride.

We warned them.

We warned about the consequences of desecrating our nation for criminals, they fell on deaf ears.
We warned about removing the ancient landmark of the land to suit criminals, they blocked their ears.
We warned that our nation was at the edge of collaspe and divinity selected OBIDATTI to pull out the nation from death.
We warned that even if tinubu and his criminal gang employed angels, that nothing good will come out from it.

We are warning again!!! Nigeria is operating under a cursed leadership and mandate . From executive to judiciary to legislature, the desecration of the land has brought a curse on the land.

Nigeria as a nation will be hit with the consequences until the desecrators are taken away.

Individuals with clean hands and heart, divinity will see you through.

OK na


Tulumbu pon the microphone 🎤

Too bad

Wahala for who sick for Nigeria

Nigeria is in a resetting stage!

That's how it would be!

It will first get tougher!

Wema Bank for example posted over 100% profit!

Companies that can't compete would of course fold up!

Many of those complaining won't say pim if it the president had been been their candidates and the masses were facing this!

$1 depreciated from ₦1300 to close to ₦1000, how many people here were hopeful?

It will just ginger their "Oliver Twist" get rich quickly mentality!

We will teach Peter Obi a lesson…
Big jokers.
Drug prices competing with electronic prices

I must not be sick in this administration.

All because of bad government policies..
It is not a good thing to be unemployed at this time..

SalamRushdie:
Harder times for Nigerians as leading international pharmaceutical Sanofi announces it's exit from the Nigerian market on the heels of GlaxoSmith exit...for those with interest in the the Pharmaceutics market this is a really huge blow as Sanofi is the last bastion for cheap quality antibiotics .

Why is the govt sitting back and allowing these guys leave like this?



https://pharmanewsonline.com/sanofi-to-discontinue-direct-operations-in-nigeria-soon/#:~:text=Sanofi%2DAventi%20Nigeria%2C%20a%20leading,operations%20in%20Nigeria%20in%202024.

The Chinese and the Indians are outcompeting them. They will come back some day after they have restrategized. In business, you innovate or die.

Now Sanofi will free up more cash to improve their margins and make their products more competitive against generic products coming from China and India. Our indigenous pharmaceutical companies doing importation business only should learn from this because some day, same thing that is happening to Sanofi today will happen to them.Check my signature for free stuffs!