By Favour Orimisan
Shares of Neimeth International Pharmaceuticals Plc surged by more than 45% in recent trading sessions, following strong investor confidence after the company’s shareholders approved a N20 billion capital raise and other strategic initiatives at its Annual General Meeting (AGM).
The rally, which pushed Neimeth’s stock to its highest level in months, came on the heels of key resolutions passed during the company’s AGM held in Lagos. The pharmaceutical firm received unanimous backing from shareholders to raise fresh capital through a combination of rights issues, private placements, and other instruments to bolster operations and fund expansion plans.
The N20 billion capital raise, management said, will be deployed toward building a world-class manufacturing facility, boosting research and development, and expanding Neimeth’s footprint in Nigeria and across West Africa.
Dr. Ambrosie Orjiako, Chairman of Neimeth, assured investors that the capital injection would significantly enhance the company’s growth trajectory and competitiveness in the pharma industry. “This is a bold step toward transforming Neimeth into a pharmaceutical giant, with modern infrastructure and a diversified product portfolio that meets local and regional health needs,” he stated.
According to him, the company is committed to repositioning its brand through innovation, improved corporate governance, and strategic partnerships, especially in the face of growing demand for affordable, locally produced drugs.
The Managing Director/CEO, Matthew Azoji, also emphasized that Neimeth is ready to take advantage of new market opportunities arising from the African Continental Free Trade Area (AfCFTA), saying the company is building capacity to compete with global brands and deepen its reach in rural and urban markets.
Azoji noted that Neimeth’s ongoing turnaround strategy — including operational restructuring, product line expansion, and digital transformation — is already yielding results, citing improved margins and stronger market presence in recent quarters.
The company’s positive outlook and transparent communication appear to have resonated with investors, triggering renewed interest in the stock, which had remained relatively under the radar in prior months.
Market analysts say the 45% surge reflects not only optimism about the capital raise but also growing investor appetite for fundamentally sound companies with clear growth plans, especially in Nigeria’s healthcare sector, which has become increasingly important post-pandemic.
“The stock’s performance is a direct response to Neimeth’s clarity of vision and execution roadmap. Investors are looking beyond short-term volatility and buying into the company’s long-term value story,” said Tunde Aluko, an equities analyst at Vetiva Capital.
Neimeth, which has a long legacy in Nigeria’s pharmaceutical space, was recently included in the list of companies aligning with the federal government’s push for local drug manufacturing to reduce import dependence and strengthen health security.
With the capital raise approved and a robust expansion blueprint in motion, Neimeth appears to be on a renewed path of growth, driven by shareholder support, market opportunity, and strategic execution.
