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.