Prime Business Africa
The market valuation of the six pharmaceutical companies listed on the Nigerian Exchange (NGX), also known as the stock market, increased by N548.35 billion between January 2, 2025, and February 20, 2026, according to analysis by Prime Business Africa.
Fidson Healthcare, Mecure Industries, May & Baker Nigeria Plc, Neimeth International Pharmaceuticals Plc, and Morison Industries are the drug makers listed in the Nigerian stock market.
Join our WhatsApp ChannelThe pharmaceutical companies have a combined valuation of N672.07 billion as of February 20, compared to the N123.72 billion they were valued at as of January 2, 2025, representing a threefold or 443.20 percent increase.
How The Pharmaceutical Companies Performed
Mecure
During the period under review, Mecure’s share price surged by 506.11 percent, pushing the company’s market valuation up to N337 billion, which made the drug producer the largest pharmaceutical company on the NGX.
- The company’s share was priced at N84.25 kobo on February 20 this year, compared to N13.90 kobo per share at the start of 2025, indicating demand increased the share price by N70.35 kobo.
- As a result, Mecure’s market valuation surged by N281.4 billion, according to analysis by Prime Business Africa, from the N55.60 billion the drug maker was valued in the Nigerian bourse on January 2, 2025.
Fidson Healthcare
Fidson Healthcare followed Mecure with a N199.43 billion market capitalisation, which gave the drug producer the second spot on the list of the largest pharmaceutical companies listed on the NGX.
- According to the analysis, Fidson achieved the market valuation following a threefold or 451.74 percent growth in the share value, as the equity traded at N86.9 kobo per share at the end of the period under review.
- Following a N71.15 kobo surge in the value of the share, which was exchanged by equity traders at N15.75 kobo at the start of last year, Fidson’s market valuation increased by N163.28 billion, from N36,14 billion.
May & Baker
The third spot on the list of the largest pharmaceutical companies on NGX was occupied by May & Baker, which saw its market valuation rise to N67.28 billion at the end of the period under review.
- It was gathered that the market valuation of May & Baker increased by N51.06 billion from N16.21 billion, after the company’s share price surged by threefold or 314.89 percent during the review period.
- The NGX market performance data showed that a share of May & Baker cost N9.40 kobo on January 2, 2025, compared to the N39 it was sold for on February 20 of this year, representing a N29.6 kobo increase in the price.
Neimeth International
Neimeth International is the fourth largest pharmaceutical company on the Nigerian bourse, following a 396.01 percent surge in the company’s share price during the period under review.
- At the start of 2025, a share of Neimeth was valued at N2.51 kobo, however, by February 20, equity traders were willing to pay N9.94 kobo more for the share, resulting in the price rising to N12.45 kobo for the share.
- With equity traders willing to up their purchasing offer, the market valuation of Neimeth benefited from the price surge, as it hit N53.2 billion at the end of the review period, up from N10.72 billion, reflecting a N42.47 billion increase.
Morison Industries
Morison Industries was not left out in the industry bullish run as the share price of the company jumped 200.99 percent, leading to its market capitalisation rising to N15.15 billion as of February 20.
- This made Morison the fifth largest pharmaceutical company in the Nigerian bourse, where it was initially valued at N5.03 billion as of January 2, 2025, indicating the firm’s market capitalisation rose by N10.12 billion.
- The increase in Morison’s market valuation could be linked to the share price rising by N8.06 during the period under review, as it cost N12.07 to buy a share on February 20, compared to the N4.01 it was traded at the start of last year.
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