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Strong Topline, FX Gain Help Neimeth Return To Profitability

February 24, 2026
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Strong Topline, FX Gain Help Neimeth Return To Profitability

Neimeth International Pharmaceuticals Plc recovered from a 2024 pretax loss following a strong topline growth and return to foreign exchange (FX) gain, which shielded the drugmaker from rising expenses.

The pharmaceutical company’s revenue grew by 64.28 percent to N7.36 billion in 2025, surpassing the N4.48 billion generated in 2024.

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In the same vein, Neimeth’s cost of production increased by 59 percent year-on-year, from N2.52 billion to N4.01 billion, according to the firm’s financial statements for the period ended December 31, 2025.

Consequently, the company closed the period under review with N3.34 billion gross profit, compared to the N1.95 billion recorded in 2024, representing a 71 percent growth.

However, other income declined to N1.09 billion in 2025, down by 23 percent from the N1.41 billion Neimeth recorded during the previous year.

Also, the company incurred N604,98 million marketing and distribution expenses, which dropped by 11 percent year-on-year, from N680.45 million, while administrative expenses increased by 88 percent, from N628.17 million to N1.17 billion.

But Neimeth reduced the impact of its expenses on the bottom line with a N48.11 million foreign exchange gain last year, recovering from the N2.04 billion FX loss recorded in 2024.

Following its impressive topline, coupled with FX gain, the drugmaker recorded N2.71 billion operating profit in 2025, surpassing the N18.88 million reported in 2024, indicating a 14,257 percent growth.

However, finance costs gulp a significant part of its earnings after increasing to N1.22 billion last year, up from the N873.32 million incurred on interest expenses and leases in 2024.

Despite the 40 percent increase in finance costs, Neimeth was able to achieve N1.48 billion profit before tax (PBT) in 2025, recovering from the N854.43 million pretax loss recorded the previous year.

Consequently, Neimeth’s tax expense jumped by 1,537.38 percent to N505.93 million during the period under review, up from the N30.89 million reported in 2024

As a result, the pharmaceutical company’s net profit was N982.12 million in 2025, compared to the N885.33 million loss after tax recorded in 2024.

For press releases, tip-offs, and corporate information, call 08149575257 (hotline), email: editor@primebusiness.africa and publisher@primebusiness.africa

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