Table of Contents
Key Points
- May & Baker, majority-owned by billionaire TY Danjuma, to build a new pharmaceutical plant in Anambra, boosting local drug production and economic growth.
- The company expands its herbal medicine portfolio with science-backed products for domestic and export markets, leveraging indigenous plants and local expertise.
- H1 2025 revenue surges 38% to N19.28 billion, driven by strong pharmaceutical sales and innovation-focused product expansion.
May & Baker Plc, one of Nigeria’s leading pharmaceutical companies, majority-owned by Nigerian billionaire Theophilus Yakubu (TY) Danjuma, is expanding its manufacturing footprint with a new facility in Anambra State, reinforcing its commitment to Nigeria’s local drug production and economic growth.
New plant to strengthen Onitsha operations
CEO Patrick Ajah revealed the plan during the 2025 Annual Conference of the Association of Community Pharmacists of Nigeria in Awka, Anambra’s capital. Speaking alongside Governor of Anambra State, Chukwuma Soludo at the company’s exhibition stand, Ajah confirmed the new facility will complement May & Baker’s existing depot operations in Onitsha.
“We are heavily invested in producing quality medications locally and developing products from Nigerian research,” Ajah said, noting the company’s legacy as Nigeria’s first pharmaceutical manufacturer. Governor Soludo praised the firm’s innovation drive, highlighting that most drugs on display were produced at the May & Baker Pharmacentre in Ota, Ogun State.
Betting big on herbal medicine
Ajah also spotlighted the company’s herbal medicine venture, which leverages indigenous plants and Nigerian scientific expertise. Products include Roveda, derived from bitter leaf and developed by Benson Idahosa University’s Vice Chancellor Prof. Ernest Izevbigie, and Niclovix, from the Nigerian Institute for Pharmaceutical Research and Development.
“These herbal products merge science, local resources, and traditional knowledge,” Ajah said, adding that May & Baker is commercializing them to meet growing domestic and export demand. Soludo engaged extensively on the herbal portfolio, promising state support for investments that add value to Anambra’s economy.
May & Baker boosts output
May & Baker produces pharmaceuticals, vaccines, and consumer health products. Danjuma, who chaired the board for 16 years before retiring in 2019, holds a 41.78 percent stake through TY Holding and affiliates. The company built a manufacturing facility and launched Biovaccines Nigeria Limited, a vaccine production partnership with the government.
In the first half of 2025, May & Baker reported revenue of N19.28 billion ($12.59 million), up from N13.97 billion ($9.12 million) a year earlier. Gross profit increased to N6.67 billion ($4.35 million) from N4.35 billion ($2.84 million) in H1 2024. With its Anambra expansion, the company aims to increase its share of Nigeria’s pharmaceutical market and expand its role in health innovation in Africa.
