After it posted a net profit of NGN149 million last year’s quarter three, Pharma Deko PLC has reported in its unaudited third quarter result that it recorded a net loss of NGN110 million.
The result points to the fact that the pharmaceutical industry has also had its fair of the worst economic recession in Nigeria not seen for the last 20 years.
Gross revenue fell to NGN743 million compared to NGN1,1 billion in the previous year. The company note that the negative result was as a result of:
“Non Availability of key products during the half year of 2016 affected the revenue declared. Also, the delay in completion of overhauling of the equipment and the factory extension”.
“The marginal increase in the cost of sales was due to high cost of operations and increase In exchange rate for USD”
“We are consciously optimistic that once the factory is in full operation in October 2016, we will be able to catch up with the gap in Revenue before the end of the year 2016”.
Corporate information (corporate information)
Our Pharma brands are divided into OTC brands and Ethical products. Under the OTC, Our cough and vitamins brands control more than 50% of the market share. These brands are Parkalin Pediatrics, Parkalin Chesty, Parkalin with Codeine, Vitacee Drops & Syrup, Pharmadec drops and syrups. Other OTC brands include, Revitone Blood Tonic, Salins Liniment and Antasil tablets, Amoquin tablets, Garlic Tablets.
Our brands Brett mouthwash (Minty & Gold) are the dominant oral brands in the mouthwash category. Currently we are the only local manufacturers of suppositories in Nigeria and our brands, Phardol suppository and drops, Anuproct suppository (Plain and HC+) are leaders in the market.
Our prescription drugs include – Omepraz Capsules, Sparxin, Pidiclox dry powder & Capsules, Amycin Dry Powder & Capsules, Hexedene, Parkaprim Suspension & tablets