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May & Baker Nigeria Plc (Nigeria)

Main Activities: Pharmaceutical and Medicine Manufacturing | Medical Equipment and Supplies Manufacturing | Drugs and Druggists' Sundries Merchant Wholesalers
Full name: May & Baker Nigeria Plc Profile Updated: March 12, 2024
Buy our report for this company USD 29.95 Most recent financial data: 2022 Available in: English Download a sample report

May & Baker Nigeria Plc is a pharmaceutical company located in Lagos, Nigeria. It was founded on September 4, 1944, and is Nigeria's first pharmaceutical company. The company originated in England in 1834 as Grimwade, May & Pickett, a firm manufacturing chemicals for pharmaceutical products. Over the years, the company went through mergers and acquisitions, eventually becoming a mega European conglomerate. However, today only the Nigerian offshoot retains the original name. In Nigeria, May & Baker started as May & Baker (West Africa) Limited in 1944, serving as a trading outpost for the West Coast of Africa. During the Nigerian civil war, the company relocated to its present site in Ikeja, Lagos state. In 1976, May & Baker built a factory in Ikeja and began local manufacturing of pharmaceuticals. The company changed its name from May & Baker (West Africa) Limited to May & Baker Nigeria Limited in the same year. In 1979, due to the indigenisation decree, May & Baker, United Kingdom relinquished 60 percent of its equity holding in May & Baker Nigeria to Nigerians. The company's name was briefly changed to Embechem Nigeria Limited before reverting back to May & Baker Nigeria Limited. May & Baker Nigeria Limited became a publicly quoted company in 1994 after being listed on the Nigerian Stock Exchange. The company changed its name to May & Baker Nigeria Plc. In 1997, Joseph Ikemefuna Odumodu became the first indigenous Managing Director/Chief Executive Officer of May & Baker Nigeria. In 2002, the foreign partners decided to divest, but they remained technical associates of the company through Aventis SA, France. After the merger of Aventis and Sanofi in 2004, the technical relationship transferred to Sanofi-Aventis. However, in 2005, May & Baker Nigeria renegotiated the relationship to have its own products. Since 2005, May & Baker Nigeria has undergone an aggressive expansion and diversification program. The company established Biovaccines, a local vaccine production subsidiary, in partnership with the Federal Government of Nigeria in 2005. In 2006, May & Baker constructed a food processing factory and a local plant for the production of anti-retroviral drugs in Nigeria. Additionally, a World Health Organization Standard Pharmaceutical production facility was completed and commissioned in 2011.

Legal Address
3/5 Sapara Street, Industrial Estate, P M B 21049, Ikeja
Lagos; Lagos;

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Website: http://www.may-baker.com

Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
1944
Key Executives
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Chairman
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Director / Member of the Management Board
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Director / Member of the Management Board
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Director / Member of the Management Board
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Director / Member of the Management Board
Ownership Details
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37.77%
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15.45%
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3.14%
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0.86%
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0.12%
Subsidiaries
Osworth Nigeria Limited
100%
Servisure Nigeria Limited
100%
Tydipack Nigeria Limited
100%
Company Performance
Financial values in the chart are available after May & Baker Nigeria Plc report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency NGN. Absolute financial data is included in the purchased report.
Net sales revenue
38.22%
Total operating revenue
38.17%
Operating profit (EBIT)
18.22%
EBITDA
161.37%
Net Profit (Loss) for the Period
-50.23%
Total assets
-4.02%
Total equity
3.11%
Operating Profit Margin (ROS)
-2.32%
Net Profit Margin
-8.84%
Return on Equity (ROE)
-9.04%
Debt to Equity Ratio
-27.15%
Quick Ratio
-0.28%
Cash Ratio
-0.21%

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