Pharma Deko Plc has, for the past five decades, produced, packaged and marketed pharmaceutical products across Nigeria and beyond.
The company operates in three segmented areas – Pharma, Consumer, and Contract. As such, its products range from over-the-counter (OTC) drugs to “ethical products”.
Pharma Deko claims that it controls about 50 per cent market share in a pharmaceutical industry, which is currently dominated by big names such as GlaxoSmithKline Nigeria Consumer Plc and Fidson Healthcare Plc.
The company also positions itself as the country’s market leader in the non-sugar based carbonated soft drink market, where it controls about 70 per cent market share. It is reputed for being the first company to introduce locally-canned drinks in the Nigerian market.
Pharma Deko Plc recently, on its website, claimed that its OTC segment controlled 50 per cent market share, thereby leaving the others with just 50 per cent. The company also claimed to enjoy 70 per cent share in the non-sugar based carbonated drink market where it currently operates.
Pharma Deko recorded a 45 per cent increase in its turnover for 2017; its revenue had grown from about N1 billion in 2016 to about N1.5 billion in 2017. Unfortunately, it recorded a 105 per cent loss, with its profit after tax having decreased from N218.7 million in 2016 to N12.6 million in 2017.
Unfortunately, Pharma Deko Plc has struggled to remain profitable over the past five years. Its annual revenues from 2017 back to 2013 have also remained below the N2 billion mark, even as profits continuously fluctuated, albeit below half a billion naira.
The company’s consumer goods segment has made losses in the past two years. It incurred a loss of N190 million in 2016 and N80.7 million in 2017.
Speaking with one of the executive members of the company who pleaded anonymity, he said though the company’s revenue decreased, it still did not change the fact that the company was one of the best pharmaceutical companies in Nigeria.
He further explained that the state of the Nigerian economy had affected the company’s revenue and that the company would very soon recover from its losses, as there were quite a number of major players in the Nigerian pharmaceutical industry.
He said, “As a pharmaceutical company with many product ranges, we have products for different types of ailments. Some of these drugs are easily assessed over the counter, while others would need to be prescribed by qualified medical professionals.”
