Fidson, MeCure, & Neimeth opened 2025 with strong revenue growth, driven by soaring demand for pharmaceutical products across Nigeria and African markets.
But while top-line figures impressed, the bottom line told a different story.
Fidson led the surge, nearly doubling its revenue to ₦35.02 billion from ₦18.88 billion in Q1 2024.
Meanwhile, MeCure increased its revenue to ₦13.29 billion from ₦8.08 billion, and Neimeth followed suit, boosting revenue to ₦1.21 billion from ₦648.3 million.
This growth reflects rising demand across Nigeria and other African markets.
Fidson, MeCure & Neimeth Production Costs Surge
However, each company battled soaring input costs.
Fidson doubled its cost of sales to ₦22.45 billion, MeCure raised it by 66% to ₦8.99 billion, and Neimeth experienced a 296% spike to ₦566.6 million.
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As a result, rising costs outpaced revenue growth in some cases.
Balance Sheets Remain Strong
Despite these challenges, all three firms strengthened their financial positions.
MeCure held total assets of ₦59.62 billion, Fidson reported ₦33.25 billion, and Neimeth maintained ₦12.41 billion.
On the profit front, Fidson more than tripled its net profit to ₦3.25 billion, leveraging its scale.
Similarly, Neimeth grew its profit to ₦115.8 million from ₦77.7 million.
In contrast, MeCure saw its profit drop 11% to ₦568.7 million, reflecting the impact of higher costs.
Outlook Hinges On Cost Control
Ultimately, these results expose ongoing pressures — including a weak naira, high energy and logistics costs, and heavy reliance on imports.
Fidson acknowledged “The rise in input costs continues to test our operating model,” and emphasised its commitment to efficiency and localisation.
Going forward, experts are recommending that firms must control costs to sustain earnings amid a tough economic climate.
