The Chairman of Mecure Industries Plc, Mr. Samir Udani, has disclosed that only about 20 percent of local raw materials needed by the healthcare companies in Nigeria are sourced locally, while 80 percent is sourced abroad.
He stated this during the listing of the company’s four billion ordinary shares on the Nigerian Exchange Limited (NGX) by way of introduction at N2.96 per share.
He said for the healthcare sector to overcome the challenges posed by foreign exchange (FX), companies should begin to look inward in procuring their raw materials.
Speaking at the listing, the Chief Executive Officer, NGX Limited, Temi Popoola, said: “This is another major listing for NGX in the pharmaceuticals industry as the company has added N11.84 billion to the market capitalization of the Exchange upon its addition to the Main Board’’.
