A s growth opportunities continue to move away from traditional pharmaceutical markets and growth patterns in developed markets continue to flatten, many multinational companies (MNCs) like Norvatis, Pfizer, Sanofi, Johnson & Johnson, etc. look toward Africa, including Nigeria for their expanding global footprint. This is evident following GlaxoSmithKline (GSK) plan to invest over $200million in Africa over the next five years, expanding manufacturing in Nigeria and Kenya and building five new factories-Rwanda, Ghana and Ethiopia given its attractive long-term growth potential. With a growing middle class of expected annual disposable income in excess of $1 trillion by 2023, increasing awareness of healthier lifestyles, and a combined Gross Domestic Product (GDP) of $2.9 trillion, rising population growth is emerging as a melting pot for pharmaceutical expansion. Interestingly, of the four MINT countries (Mexico, Indonesia, Nigeria, and Turkey), Nigeria’s...
Comments
Post a Comment