The two significant capital initiatives Neimeth International Pharmaceuticals Plc has started are intended to increase revenue and earnings, according to the company. At the 64th Annual General Meeting of Neimeth, held in Lagos, the pharmaceutical company made this disclosure.
In his remarks to the shareholders during the meeting, the company’s chairman, Dr. Ambrose Orjiako, said Neimeth was upgrading its Lagos manufacturing plant completely, which is likely to triple its production capacity in the coming years.
A top-notch pharmaceutical production facility being built in Amawbia, Anambra State, must fulfill standards set by the World Health Organization, he added.
These growth initiatives are intended to increase sales and profits. Additionally, he declared a 20% growth in the turnover of Neimeth for the 2022 business year.