The goal of May & Baker Plc is to become the top healthcare brand in Sub-Saharan Africa in the next five years, Pharm. Nnamdi Okafor, managing director/CEO, May & Baker Plc, has said.
Speaking with a select group of newsmen during a media parley held at the corporate head office of the company in Lagos, last December, Okafor disclosed that while the company is focusing on consolidating its healthcare business in Nigeria, the ultimate goal is to take the business beyond Nigeria by expanding to other Sub-Saharan African countries. The company, he said, is working towards achieving this in the next five years.
While thanking the pressmen for their support in 2017, the May & Baker boss said that the latest financial figures show that the company did well in 2017. He added that the share price of the company not only stabilised during the year but also increased to about 100 per cent more than what it was in the previous year.
He disclosed further that part of the plans of the company for the next five years was the introduction of new natural products being handled by Nature Care, a new business unit established by the company.
Okafor also expressed optimism that the year 2018 would be a better business year, noting that the projection is that both the global and the local economy will grow in 2018. Businesses in Nigeria, he said, will therefore benefit from this growth.
The May & Baker helmsman disclosed further that experts had told the company that the Federal Vaccine Production Laboratory in Yaba could not be revamped, adding that the company thus intends to start the process of local vaccine production afresh under Biovacine Nigeria Limited.
He added that with this arrangement, the earliest timeline the company was working on to produce the Yellow Fever Vaccine was 2021. He, however, added that Biovacine will before then be focusing on providing other vaccine products, especially the ones important for the Expanded Programme on Immunisation (EPI).