As part of its commitment to enhancing the health of Nigerians through the production of quality pharmaceuticals, May and Baker Nigeria PLC has recently unveiled a new cough syrup, Maysedyl.
The product was unveiled at the company’s 2024 Customers Forum, held in Lagos, recently.
Speaking at the event, the Managing Director of the company, Pharm. Patrick Ajah, said Maysedyl was carefully prepared to meet the recommendations of the World Health Organisation.
Ajah further disclosed that the company plans to launch, at least, seven new brands of products before the end of June 2024, so as to keep enhancing the health of Nigerians.
The May & Baker boss explained that the fluctuating nature of the foreign exchange market, inflation, fuel subsidy removal and unsteady power supply, among other challenges, had contributed to the high cost of production materials, which made the year 2023 very challenging.
He said, “The year 2023 was quite challenging. A lot of pharmaceutical manufacturing companies left, but by the Grace of God, we remained in business. So, I appreciate all our distributors and customers for their steadfast support and we are committed to serving you better going forward.
“In this year 2024, at least, seven new brands of production will be launched. And this occasion of 2024 Customers Forum is very significant because this year, May & Baker will be marking its 80th anniversary.”
The company’s Head, Marketing and Sales, Mr Obinna Emeribe, also disclosed at the forum that the company is determined not to rest on its oars, as it has set a revenue target of N27 billion for the year 2024.
He added that over N300 million incentives will be won by the companies’ distributors in 2024, stressing that distributors and customers were an integral part of the company.
Emeribe pointed out that the distributors contributed N15.7 billion of the total revenue generated by the company in 2023, insisting that the company will always hold them in high esteem.
He however called on the Federal Government to intensify efforts to stabilise the economy. He specifically urged the government to fix power problems across the country, address the rising inflation and as well stabilise the foreign exchange market, stressing that the effects of subsidy removal, together with the consistent rising inflation has drastically reduced the purchasing power of the citizens.
