Healthcare Sector

FIDSON PHARM

In the 2021 Q1 Fidson continued its effort in 2020 financial year to grow revenue and profit.

Three months to March, revenue rose to N6.32 billion from N3.75 billion in 2020. Cost of sale however increased from N2.02 billion to N3.48 billion as sell and distribution expense grew from N0.607 billion to N0.860 billion.

In the 2020 financial year, revenue rose 30 percent to N18.27 billion from N14.06 billion profit after tax was N1.20 billion up from N0.407 billion as earning per share rose to 58 kobo from 20 kobo.

Fidson which has been one of the beneficiaries of the Federal Government anti COVID 19 intervention fund in the pharmaceutical sector lost 12.24 per share in share price following the general bear market.

GLAXO PHARMACEUTICAL

GLAXO has lost 7.24 percent between January and April 21, 2021. This follows decline in 2021 Q1 revenue from N4.99 billion in 2020 to N3.46 billion and loss of N0.238 billion. In the 2020 financial year,

Glaxo’s revenue increased marginally to N21.29 Billion from N20.76 billion. The N15.38 billion cost of sale however left profit after tax at N 0.622 billion.

NEIMETH

For the quarter ended December 2020, Neimeth pharmaceutical recorded decline in turnover from N0.606 billion to N0.394 billion and suffered loss of N0.178 billion. At the end of the quarter ended March 2021, turnover was N0.887 billion down from N1.28 billion. At N0.444 Billion cost of sale declined from From N0.741 billion, leaving profit after tax marginally growing from N0.028 billion to N0.207 billion. Earning per share increased from N1.49 to N10.9. Following its poor performance, Neimeth has lost 14.79 percent share four months into the year.