Prime Business AfricaThe pharmaceutical companies in the Nigerian stock market are struggling to attract investment amid a decline in investors’ confidence in the first quarter (Q1) of 2025.
Out of the five pharmaceutical companies listed on the bourse, only two saw their shares soar in the reviewed period, resulting in their combined market value declining by 5.73 precent.
Join our WhatsApp ChannelAccording to Prime Business Africa’s analysis, Neimeth, Mecure Industries, May and Baker, Fidson Healthcare, and Morison Industries had a combined market valuation of N122.65 billion as of January 2, but it fell by N7.03 billion to N115.62 billion at the end of March.
Best-performing pharmaceutical companies
Fidson Healthcare
Fidson Healthcare shares appreciated in the first quarter by N2.3 kobo, rising from N15.75 kobo to N18.05 per share, leading to the shareholders’ investment appreciating by 14.60 percent during the period.
Prime Business Africa gathered that this represents N5,27 billion combined gain for the shareholders and also raised Fidson’s market value from N36.14 billion to N41.42 billion within three months.
The increase enabled Fidson to maintain its position as the second most valuable pharmaceutical company in the industry, closing the gap on Mecure.
Neimeth
Neimeth is the second company to record an increase in its share price, as an uptick in demand pushed the value from N2.51 kobo on January 2 to N2.81 kobo on March 28.
This raised its shareholders’ investments by 11.95 percent, representing a combined gain of N1.28 billion in the first quarter, the same period its market valuation increased from N10.72 billion to N12 billion.
However, the increase did not change its position on the list of the most valuable pharmaceutical companies in the industry, as Neimeth was ranked fifth.
Worst-performing pharmaceutical companies
Mecure Industries
Mecure’s stock was the worst-performing in the industry, as shareholders of the company lost 19.06 percent of their investment during the period under review.
Analysis showed that the decline in their investment followed a drop in the company’s share price, as low demand pulled it down from N13.90 kobo to N11.25 kobo.
As a result, the shareholders recorded a combined loss of N10.6 billion, which depleted Mecure’s market valuation from N55.6 billion to N45 billion.
Despite the decline, Mecure remained the most valuable pharmaceutical company in the industry.
Morison
Morison came second on the list of the worst-performing pharmaceutical stocks after its shares depreciated from N4.01 to N3.25 kobo.
Consequently, shareholders’ investment depreciated by 18.95 percent, representing a combined loss of N751.76 million, according to analysis.
At the end of the quarter, Morison also recorded a decline in its market valuation, which fell from N3.96 billion to N3.21 billion, making the company the fourth most valuable company in the sector.
May and Baker
May and Baker’s shareholders were not so lucky as well, as analysis showed that they recorded a combined loss of N2.24 billion, after the share price dropped by N1.3 kobo within three months.
The decline in the share price, which fell from N9.40 kobo to N8.10 kobo, resulted in the shareholders’ investment declining by 13.82 percent during the reviewed period.
It also dragged down the company’s market value from N16.21 billion to N13.97 billion, making May and Baker the third most valuable company in the industry.
