Fidson Healthcare Plc has formalised a Strategic Cooperation Memorandum with three Chinese entities: Jiangsu Aidea Pharma, Nanjing PharmaBlock, and the China-Africa Development Fund.
Daily Report Nigeria reports that the agreement, signed in Beijing, aims to enhance the availability of HIV medications across Africa.
Also, the collaboration will see these four organisations combine their expertise to establish a new joint venture pharmaceutical plant in Nigeria.
The signing ceremony was attended by a Nigerian delegation led by Dr Fidelis Ayebae, the founder and Managing Director of Fidson Healthcare Plc, along with Dr Babatunde Ipaye and Mr Oshoke Ayebae.
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Ayebae explained that this partnership is set to massively improve access to HIV treatment for Nigerians and other Africans.
He said:
“This collaboration will leverage the strengths of all parties to create a new pharmaceutical plant in Nigeria, promoting self-reliance in healthcare delivery, particularly in combating HIV.”
READ ALSO: 1.6 Million Nigerians with HIV Are on Treatment – NACA
The agreement includes sharing information and resources, exploring investment opportunities in West African pharmaceutical markets, and implementing cooperative investment projects.
Notably, the signing followed a series of engagements, including a visit by Dr Heliang Fu, Chairman of Jiangsu Aidea Pharma, to Nigeria earlier this year. During his visit, Dr Fu toured the Lekki Free Trade Zone, the proposed site for the state-of-the-art manufacturing facility.
Fu remarked that the partnership exemplifies international cooperation to address critical medical challenges.
The new facility is expected to become a hub for pharmaceutical excellence, leveraging the strategic location and infrastructure of the Lekki Free Trade Zone to drive economic growth and improve healthcare.
Dr Ayebae stressed that this initiative would address the medical needs of over 1.9 million people living with HIV in Nigeria, believing that the combined strengths of all parties will revitalise the healthcare sector in Africa.
Fidson Healthcare Plc, listed on the Lagos Stock Exchange, has seen its stock value decrease by 24.6% this year, currently valued at N30.3 billion.
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