Sanofi Announces Strategic Shift in Nigeria, Exiting Direct Operations in 2024.
Sanofi-Aventi Nigeria, a prominent multinational pharmaceutical company, has revealed plans to discontinue its direct operations in Nigeria by the year 2024. This decision closely follows GlaxoSmithKline’s (GSK) exit from the Nigerian market just four months ago, citing adverse economic forces after over five decades of operations in the country.
GSK, producer of Panadol, Augmentin, others shuts down operations in Nigeria
The announcement was made through a memo addressed to stakeholders in the healthcare industry on Tuesday titled “Sanofi Adopts New Business Model in Nigeria.” The memo, signed by Country Lead Folake Odediran and obtained by pharmanewsonline, outlines Sanofi’s intention to embark on a transformative business model in Nigeria starting February 2024.
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Under the new model, the commercialization of Sanofi’s extensive portfolio of medicines will be overseen by a third-party distributor, whose identity is yet to be disclosed.
According to Odediran, “With effect from February 2024, our company will embark on an exciting transformation of its business model in Nigeria. In our new model, commercialization of Sanofi portfolio of medicines will be driven solely by a 3rd party soon to be named.
Sanofi emphasized that this strategic move is a significant milestone for the organization, driven by a commitment to continually improve access to their medicines and better serve patients and the Nigerian health system.
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Pharmaceutical Giant Sanofi to Shutdown of Operations
Odediran assured stakeholders that the multinational pharmaceutical giant is actively engaged in discussions with its employees, partners, and major stakeholders to ensure a smooth and transparent transition process. The company is dedicated to providing more value to patients, with the adoption of the new model being a testament to this commitment.
Details of the new development are expected to be unveiled in the coming days through a media announcement. Odediran stated, “We have commenced discussions with our employees, partners, and key stakeholders to ensure full transparency. In the coming days, we will make a public announcement through the media. However, we recognize that our relationship with stakeholders is paramount, and we wish to share this information with you in advance.”
Sanofi, a global life sciences company, is deeply committed to improving access to healthcare and supporting individuals throughout the continuum of care. The company’s scientific innovations span various medical fields, including human vaccines, rare diseases, multiple sclerosis, oncology, immunology, infectious diseases, diabetes, cardiovascular solutions, and consumer healthcare.
