We seek to attract investors and partner with local and international pharmaceutical companies for drug production. We also seek to attract pharmaceutical companies to locate their branches in the district for the manufacture of generic drugs at affordable prices for consumers. The final goal is to encourage start-ups, and attract existing Nigerian and international Pharma companies to the Pharma District, Mosogar. The district has also made provisions for manufacturers of medical devices such as syringes, needles, laboratory supplies and other disposables such as diapers and surgical drapes. This district will contribute to healthcare, stimulate the state’s economy and create employment.
Estimates of the size of the pharmaceutical market in Nigeria vary significantly. In 2009, the Pharmaceutical Manufacturing Group of the Manufacturers’ Association of Nigeria (PMGMAN) estimated the size of the total pharmaceuticals and healthcare products market to be in excess of N320 billion (US$ 2 billion) annually. The estimated market for prescription ethical pharmaceuticals is US$ 500 million and that for over the counter (OTC) pharmaceuticals about US$ 900 million. Furthermore, PMG-MAN estimates the Nigerian market for biological products (including vaccines, insulin, interferon, etc.) to be worth about US$ 100 million. In addition, related healthcare and lifestyle products account for about US$ 500 million. The market for the entire West-African Sub-Region is at least US$ 15 billion per annum. This district truly promises good return on investments.
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