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Business News of Friday, 26 November 2021


Nigeria, Senegal, Pakistan sign pharmaceutical trade agreements

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Nigeria and Pakistan on Thursday November 25,2021 signed trade agreements on affordable cardiovascular pharmaceuticals and other antibiotics at the ongoing trade exhibition by Pakistani companies in Lagos.

The agreements were signed on the last day of the 2nd Pakistan-Africa Trade Development Conference and Single Country Exhibition.

The Deputy Managing Director, Assene Laborex Eurapharma, Mr Renaud Beauchamp, after signing the deal, said that quality cardiovascular drugs and antibiotics were important for effective treatment of diseases in Nigeria.

He said that the Memorandum of Understanding (MoU) between his firm and the Pakistani counterpart had offered Nigerian consumers access to quality and affordable pharmaceuticals.

“They are very affordable quality products for specialists to treat cardiovascular diseases and other ailments,” he said.

Mr Ohgenevwogaga Uti, Franchise Head, Assene Laborex Eurapharma, said the MoU was an opportunity for importation of quality affordable drugs for cardiovascular and other diseases.

Uti added that it would boost access to quality treatment of cardiovascular diseases in Nigeria.

“This relationship is going to bring positivity for Nigeria and also create good health care for the people,” he said.

Mr Muhammad Hashmi, Director of Marketing, International Markets, PharmEvo (Pvt) Ltd, the Pakistani counterpart, said that Nigeria was a growing market for cardiovascular diseases and other chronic ailments hence the need for quality affordable medicine.

Hashmi said the price advantage would help curb prevalence of diseases like hypertension and stroke in Nigeria.

In another development, the Senegal representative, Dr. Niang Seydou, the CEO of SN International Middle East-Dubai Ajman FZE, has signed an MoU with another pharmaceutical company from Pakistan.

NAN reports that during the signing of the MoU, Mr Abdul Razak Dawood, the Advisor to the Pakistani Prime Minister on Commence and Investment, stood as a witness.

Dawood said that the MoU was a sign of commitment from both parties, pointing out that both countries would benefit immensely.

NAN reports that 100 companies are participating in the exhibition that features sectors like  pharmaceutical, paints and chemicals.

The Pakistan-Africa Trade Development Conference ends today with some exhibitors telling NAN they were satisfied that they had made some impact on both Nigeria and the ECOWAS region’s trade and investment sector.