Glaxosmithkline exist Nigeria

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 Glaskosmithkline exist Nigeria

GlaxoSmithKline set to exit Nigeria after 51 years of operation, it announced on the NGX that it will seek a third party distributor. 

 Peter Obi, the Labour Party (LP) presidential candidate for the 2023 general elections, has blamed the projected withdrawal of the British pharmaceutical firm GlaxoSmithKline (GSK) from Nigeria after 51 years on bad economic management by the President Bola Tinubu-led Nigerian government.

GlaxoSmithKline, GSK Nigeria, announced its decision to stop operations in Nigeria on Friday after reviewing the alternatives for switching to a third-party distribution strategy for its medications and consumer healthcare items, according to SaharaReporters.

GSK Nigeria, which has faced rising competition from local firms as well as imports from India and China, reported a decline in half-year sales to N7.75 billion ($9.82 million), down from N14.8 billion in the same time last year.

GSK Nigeria stated that it is engaging with consultants to determine the next steps.

 Which way, Nigeria? 

 

 

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