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Business News of Wednesday, 8 November 2023


Sanofi, makers of polio vaccine announces plan to stop operations in Nigeria, offers solution

Sanofi-Aventi Sanofi-Aventi

Sanofi-Aventi Nigeria, a leading, a French pharmaceutical company has decided to close its direct operations in Nigeria.

The company now wants to adopt a a third-party model for the distribution of its products in Nigeria from 2024.

This was disclosed in a memo addressed to stakeholders, customers in the healthcare industry o titled “Sanofi adopts new business model in Nigeria”, signed by the Country Lead, Folake Odediran, and sighted by pharmanewsonline.

According to the memo the global pharma company said it will embarking on a transformative business model in Nigeria from February 2024.

The company explained that its new model will enable the commercialisation of Sanofi portfolio of medicines by a yet to be named 3rd party distributor.

Part of the letter reads: “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.

“The strategic move represents a significant milestone for our organisation and is driven by our commitment to continually improve access to our medicines and to better serve our patients and the Nigerian health system”.

Odediran further disclosed that the multinational pharma giant is already in discussion with its employees, partners and major stakeholders to ensure a smooth and transparent transition process.

She said details of the new development will be provided in days ahead through media announcement, the Cable reported.

The memo added: “We have commenced with our employees, partners and key stakeholders, to ensure full transparency. In the coming days, we will make public announcement through the media.

"However, we recognise that our relationship with stakeholders is paramount and we wish to share this information with you in advance."

The company products

Sanofi is one of the many companies that have announced changes in its operation in recent months or completely leave Nigeria. One of its popular product is vaccines for polios.