As part of efforts to deepen access to locally manufactured intravenous fluids to increase access to quality healthcare for Nigerians, and significantly reduce foreign exchange expenditure on importations Med-In Pharmaceuticals Limited, last Thursday, launched an ultra-modern intravenous (I.V) fluids production factory in Ogun State.
The factory is a 100,000 bottles per day facility. 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.”
Present at the event was the Minister, Federal Ministry of Health, Dr. Osagie Ehanire, who said the Intravenous Fluid Plant shows that Med-In Pharmaceutical is a force to be reckoned with in ensuring the supply of key medicines, nationally and potentially, globally.
Also commenting, the Governor of Ogun State, Prince Dapo Abiodun 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.
Abiodun said further his government remains open and committed to partnering businesses in its quest to provide sustainable healthcare, drive economic growth, promote investments and achieve our goal to reduce unemployment in the state.