Foremost pharmaceutical company, May & Baker PLC, has set a bold target of N38.35 billon revenue for the year 2025.
The company disclosed this at its 2025 customers’ forum held at Four Point Hotel by Sheraton, on Thursday in Lagos.
The pharma giant held the 2025 Customers Forum, bringing together its distributors and partners from across Nigeria to celebrate achievements, discuss growth strategies, and unveil new products. The event underscored the company’s resilience, commitment to customers, and ambitious plans for the future.
In his opening remarks, the Managing Director of May & Baker PLC, Pharm. Patrick Ajah, expressed gratitude to the company’s partners and distributors for their unwavering support. He highlighted the company’s significant revenue growth despite Nigeria’s challenging economic environment.
“We know how difficult the country has been, especially in the last two years, with foreign exchange instability and rising costs of raw materials. Despite these challenges, our business has not only survived but is growing. In the last four years, we have tripled our revenues. In 2020, our turnover was approximately ₦9.4 billion. By the close of 2024, we recorded ₦28.9 billion, representing a 47 per cent growth over 2023”, Ajah stated.
Looking ahead, Ajah shared an ambitious target, saying “For 2025, we aim to grow our business to ₦41 billion. With our continued collaboration, I have no doubt we will achieve this.”
To support the anticipated growth and meet set target, the company is investing in capacity expansion, logistics improvements, and ensuring product availability. Additionally, the company is set to inaugurate a new depot in Abuja next month, a move that will enhance distribution efficiency, particularly for customers in the northern region.
In his remark, the Director of Sales and Marketing at May & Baker PLC, Mr Obinna Emeribe, provided insights into the company’s market performance. He emphasised that 2024 was a year of remarkable achievements, with the company reaching 93 per cent of its target revenue, translating to a staggering about ₦25.6 billion of the targeted N27 billion, which represents a 42 per cent growth rate.
“Tonight is a celebration of excellence. We have seen impressive growth across all three business segments. CMT grew by 56 per cent OTC1 achieved 34 per cent growth, and OTC2 expanded by 52 per cent.” He said.
He further outlined May & Baker’s marketing plans for 2025, which include screening 5,000 new diabetes patients and launching new promotional campaigns. The company is also offering promotional items such as bags of rice and vegetable oil, acknowledging the economic realities facing consumers.
A key highlight of the forum was the unveiling of Multamin Plus, a new amino acid serum formulation. While speaking about the product launch, the company Brand Manager Mr David Onipe explained the product superior formulation.
“We have enhanced the existing Multamin formulation by adding taurine, selenium, and zinc. Taurine supports cardiovascular and skeletal muscle health, while selenium and zinc are powerful antioxidants,” he noted.
Meanwhile, Pharm. Ajah has reaffirmed the company’s commitment to its partners. “Your growth is our growth. We are dedicated to providing all the necessary support to ensure your business thrives alongside ours.”
Some of the distributors also commended the management of the company for the good work they are doing to keep the company running profitably.
The high point of the event was the announcement and presentation of various categories of awards to the distributors. The 2025 Customers’ Forum ended on a high note, with partners leaving inspired and optimistic about the future.
