Med-In Pharmaceuticals Limited, one of Nigeria’s foremost pharmaceutical and healthcare providers, has launched an ultra-modern intravenous (I.V) fluids production factory near Sagamu, in Ogun State.
The 100,000 bottles per day facility, located along Lagos-Ibadan expressway, near Sagamu Interchange, Sagamu, Ogun State, was officially commissioned on Thursday, July 29, 2021, as part of the organisation’s effort to deepen access to locally manufactured intravenous fluids to increase access to quality healthcare for Nigerians, and significantly reduce foreign exchange expenditure on importations.
The construction of the facility, which commenced in 2010, was backed by the Bank of Industry (BOI) and further supported by Providus Bank to ensure that the quest to enhance quality healthcare delivery in the country remained obtainable.
In his remarks, the Managing Director of Med-In Pharmaceuticals, Mr Tola Awosika, said: “Today’s milestone event is the result of years of consistency and deliberate efforts to deepen access to quality healthcare for Nigerians and to provide healthcare providers robust options, convenience, cost-effectiveness and ease of access in meeting the high demand for IV fluid products in the country.
“With a global market size valued at US$ 10.7 billion in 2020 and estimated to grow at a compound annual growth rate (CAGR) of 7.9% from 2021 to 2028, we understand the demand in this ecosystem, and we are poised to satisfy the market.
“Our facility is one of the largest and most sophisticated in Nigeria with a capacity and readiness to deliver.
“We are committed to driving product quality through strict adherence to the principles of current Good Manufacturing Practices (cGMP), regulatory and statutory requirements, and constant review of our systems to meet global standards.”
The Chairman of Med-in Pharmaceuticals, Dr Olubayode Awosika, stated; “Having served for about five decades in Nigeria’s healthcare delivery industry, we have had a robustly valuable experience to understand where the gap in providing sustainably effective solutions and services to the ecosystem lies.
“We have also spent the last ten years building a comprehensive system and facility to bridge this gap.
“We are pleased to commission this factory as a prelude to unpacking our sustainable intervention in Nigeria’s healthcare delivery space.”
Also commenting, the Governor of Ogun State, Prince Dr Dapo Abiodun (MFR), said: “I am proud of the investment that Med-In Pharmaceuticals have made into our State with this ultra-modern facility which puts Ogun State on the global pharmaceuticals and healthcare manufacturing map.
“The launch of this factory aligns with the state government’s commitment to creating an enabling environment for businesses and industries to establish, thrive, impact job creation, improve access to quality healthcare and the general wellbeing of our citizens and residents.
“We remain open and committed to partnering businesses in our quest to provide sustainable healthcare, drive economic growth, promote investments and achieve our goal to reduce unemployment in the State.”
Med-In Pharmaceuticals Ltd is a sister company to Med-In Hospital & Pharmaceutical Services Limited, incorporated in 1987.
In 2010, the Med-in Pharmaceuticals Ltd plant was instituted as one of the local pharmaceutical manufacturers of Intravenous fluid (I.V) in Nigeria.