Antibiotic manufacturers, ST. RACHEAL’s Pharmaceutical Nigeria Ltd., has recorded 25 per cent growth in capital appreciation in two years, from N1.80 in 2018 to N2.25 in 2020.
Mr Akinjide Adeosun , the company’s Chairman/ Chief Executive Officer, made the disclosure at an event to celebrate its third anniversary and introduction of antimalarial drug in Lagos.
The theme of the event was, “Malaria in the times of COVID-19: A forgotten disease?’’.
Adeosun said that the growth was driven by the launch of a new brand and customer base expansion.
According to him, from a zero base brand in 2018, the organisation now has seven NAFDAC registered antibiotics brands and with the addition of the antimalarial brand.
“We are here to celebrate our third anniversary and launch our antimalarial brand- ST.RACHEAL’S Artemether 80mg + Lumefantrine 480mg 1×6 tablets.
“This brand will give patients and health care professionals our traditional offering of peace of mind.
“ We are celebrating because of our numerous achievements. Shareholders’ value with capital appreciation of 25 per cent from N1.80 at launch in 2018 to N2.25 in 2020.
“On regulatory, from zero base brand in 2018, our organisation now has seven NAFDAC registered antibiotics and antimalarial brands,” Adeosun said.
Adeosun noted that the theme of the event resonated with the mission of the organisation which is to improve life expectancy by providing top quality affordable pharmaceuticals in Africa.
“A business must place the purpose of the society it services above intrinsic financial metrics. From inception, we were unambiguously clear that our purpose shall be: To improve Life Expectancy within the communities we serve.
“Forging partnerships with varied stakeholders is a sine qua non to achieving this goal unwavering in our virtues of excellence, integrity and empathy.’’
Speaking on the need to check malaria in the country, Adeosun quoted the World Health Organisation 2020, as saying that malaria afflicted 60,959,012 Nigerians and 95,418 souls were lost in 2019.
In addition, he said hospital visits were low during the COVID-19 pandemic and focus on malaria was neglected, thereby contributing to case fatalities.
He emphasised the urgent need for measures to be put in place to tackle malaria.
He said that the Artemether 80mg + Lumefantrine 480mg 1×6 Tablets antimalarial drug in Nigeria was the company’s contribution to wage war against malaria thereby reducing the menace of high morbidity and mortality of malaria.
He assured that the ST.RACHEAL’S antimalarial drug would deliver the company’s promise of top-quality yet affordable pharmaceutical brand, which is in tandem with their mission of improving life expectancy in Nigeria.
In his presentation, Prof. Wellington Oyibo, a Consultant Medical Parasitologist, said that malaria remains an important public health challenge globally and in Nigeria.
Oyibo, who heads the ANDI Centre of Excellence for Malaria Diagnosis, College of Medicine, University of Lagos, Idi-Araba, Lagos, noted that malaria morbidity and mortality remained high over the years.
He said that for control and elimination of malaria, patients need to know effective measures for prevention and treatment of malaria.
Also, he said that compliance with recommended best practices, request for diagnosis and completion of artemisinin-based combination therapy doses in spite of feeling of wellness were key.
He called for total individual and household commitment to malaria prevention.
The malaria expert tasked the media on increased advocacy, sensitisation and reportage on issues around malaria.
He also tasked governments on the political will for funding at all levels to eliminate malaria, enforce and monitor policies and strategies for malaria interventions.
“Strong coordination of strategic partnerships for effective response, for example, in health systems strengthening and local manufacturing.
“Also, research and development as well as favourable trade regime on malaria commodities for access to persons and communities are required,’’ Oyibo said (NAN)