Emzor Boosts Medicine self-sufficiency with €13.85mn EIB Financing Deal
By Patience Ikpeme
Nigeria’s Emzor Pharmaceutical Industries Limited has signed a €13.85 million-euro financing deal with the European Investment Bank (EIB).
The deal which was consummated at the European Union-Nigeria Strategic Meeting with top government officials is to boost local production of Active Pharmaceutical Ingredients, (API) thereby moving the nation closer to medicine self-sufficiency.
Speaking at the meeting, the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said: “this marks yet another milestone in the annals of the EU-Nigeria development cooperation.
“The EU -Nigeria relations is one of the most vibrant development partnerships in terms of volume, thematic interventions, modalities and geographical spread in deployment of resources.
This EU-Nigeria Strategic Dialogue is happening at the take-off of the current Administration in Nigeria and presents opportunities for proper articulation and consolidation of priorities in our Partnership.”
The partnership with EMZOR is a significant step towards accelerating treatments against malaria and healthcare access across Nigeria and the African continent as well as reducing the dependence on the importation of essential medicines.
The funding is to specifically support the manufacture of Active Pharmaceutical Ingredients (API) in Nigeria, which Emzor is a pioneer, with the company’s API factory in Shagamu set to begin production of up to 400 metric tonnes per year of APIs by Q1 2024.
The company’s API factory will produce Artemether, Lumefantrine, Sulfadoxine and Pyrimethamine.
