FRI, AUGUST 04 2023-theGBJournal |GlaxoSmithKline (GSK) Plc is set appoint a third-party distributor for the supply of its consumer healthcare products as it exits the Nigerian market.
The company’s exit from Nigeria follows similar closure of business in Kenya in 2022 that now leaves it operating in countries with high adult litracy and high electricity consumption per capita only.
GSK UK Group in a statement Thursday said it had informed it’s Nigeria arm of the business of its strategic intent to cease commercialization of its prescription medicines and vaccines in Nigeria through the GSK local operating companies and transition to a third-party direct distribution model for its pharmaceutical products.
”The Heleon Group has also separately informed the Board of its intent to terminate its distribution agreement in the coming months and to appoint a third-party distributor in Nigeria for the supply of its consumer healthcare products,” the company said in the statement.
The company said shareholders will receive a cash distribution and return of capital.
GSK is now left with operations in five African markets, Algeria, South Africa, Egypt, Morocco and Tunisia.
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