Fidson Healthcare Plc has entered into a Strategic Cooperation Memorandum with three Chinese companies—Jiangsu Aidea Pharma, Nanjing PharmaBlock, and the China-Africa Development Fund—in Beijing, China, to enhance access to HIV medications in Africa.
Through this collaboration, the four firms have agreed to actively leverage their respective strengths to establish a new joint venture pharmaceutical plant project in Nigeria.
The signing ceremony took place during a visit by a team from Nigeria led by Fidelis Ayebae, the founder and Managing Director of Fidson Healthcare Plc. Other members of the delegate from Nigeria were Babatunde Ipaye and Oshoke Ayebae.
In a statement, Ayebae said the partnership would help Nigerians and other Africans living with HIV to have access to treatment.
“Through this collaboration, the four parties have agreed to actively leverage their respective strengths to establish a new joint venture pharmaceutical plant project in Nigeria.
“This new project is poised to promote Africa’s self-reliance in healthcare delivery especially to tackle HIV.
“All parties agreed to share information and resources, jointly explore investment opportunities in the pharmaceutical markets of West African countries, and implement investment cooperation at the project level”, he said.
“The partnership between Fidson and the Chinese firms is a sterling example of international cooperation to tackle pressing medical challenges.
“The upcoming manufacturing facility will become a hub for pharmaceutical excellence, leveraging the Lekki Free Trade Zone’s strategic location and comprehensive infrastructure to foster economic growth and healthcare improvement in the words of Dr. Fu.
“This collaboration marks an important step for Chinese Pharma players in their commitment to global medical cooperation”, he said.
Ayebae pointed out that the move would address the medical needs of over 1.9 million persons living with HIV in Nigeria.
Listed on the Lagos Stock Exchange, Fidson has seen its stock decline by 24.6% this year and is currently valued at N30.3 billion.
