Nigerian Pharma Giant Neimeth Defies Odds, Posts Stellar Growth
In a clear signal of resilience, home-grown pharmaceutical company Neimeth International Pharmaceuticals Plc is showing investors and industry watchers how it’s done. The firm’s latest financial scorecard, filed with the Nigerian Exchange Limited, reveals a period of vigorous growth, painting a picture of a company successfully navigating a challenging economic landscape.
For the nine months ended September 2025, Neimeth didn’t just improve; it accelerated. Company revenue leapt to N5.01 billion, a significant 62 percent jump from the N3.09 billion reported in the same period last year. This isn’t just a story of selling more, but of managing smarter. The real testament to its operational strength is the even sharper 71 percent climb in gross profit, which settled at a robust N2.49 billion.
Digging deeper into the figures, the company’s core operating performance appears even more impressive. Operating profit before accounting for finance costs reached a remarkable N1.66 billion. This suggests that Neimeth has found a formula for keeping a tight rein on expenses even as its sales explode. In a period where many businesses are struggling with runaway costs, Neimeth’s marketing and distribution expenses saw only a minimal 6 percent increase.
Of course, the path hasn’t been entirely smooth. Like most corporations operating in Nigeria, Neimeth felt the pinch of high interest rates, with finance costs soaring by 198 percent to N1.3 billion. This massive financial charge acted as a drag on its final profit. Yet, in a display of underlying strength, the company still managed to grow its bottom line. Net profit for the period inched forward by 9 percent to N339.8 million, proving that its core business is fundamentally healthy and profitable.
The health of the company is further reflected in its balance sheet. Total assets grew to N13.35 billion, while shareholder equity—the real net worth of the company—swelled by a healthy 21 percent to N1.99 billion. For everyday investors, the good news is in the Earnings Per Share, which rose to 7.95 kobo, up from 7.27 kobo last year.
This tangible proof of performance has not gone unnoticed on the trading floor. Market sentiment has shifted noticeably in 2025, driving a major rebound in Neimeth’s share price as investors, once cautious, now reassess the company’s potential based on these solid results. In a sector critical to national well-being, Neimeth’s story is becoming one of a reliable pillar, demonstrating that strategic growth is achievable even in complex times.