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Sanofi-Aventis Nigeria, a prominent multinational pharmaceutical corporation, has announced its intention to cease direct operations in Nigeria starting in February 2024.
This development follows GlaxoSmithKline (GSK)’s decision to exit the Nigerian market earlier this year after 51 years of operation, citing unfavorable economic conditions.
In a memo titled “Sanofi Adopts New Business Model in Nigeria,” addressed to healthcare industry stakeholders, the Country Lead, Folake Odediran, revealed that Sanofi will transition to a transformative business model. Under this new model, a yet-to-be-named third-party distributor will take charge of the commercialization of Sanofi’s portfolio of medicines.
Odediran explained that this strategic move is a significant milestone for the company, driven by a commitment to improving access to medicines and enhancing service to patients and the Nigerian healthcare system.
The pharmaceutical giant is currently in discussions with its employees, partners, and key stakeholders to ensure a seamless and transparent transition process. Odediran reassured stakeholders of the company’s dedication to delivering greater value to patients, emphasizing that this commitment is the driving force behind the adoption of the new business model.
While the finer details of this development will be disclosed through media announcements in the coming days, Sanofi is actively engaging with its stakeholders to maintain transparency in the transition process.
Sanofi is a global life sciences company that focuses on improving healthcare access and providing support across the continuum of care.
Their innovations span various healthcare solutions, from prevention to treatment, encompassing human vaccines, rare diseases, multiple sclerosis, oncology, immunology, infectious diseases, diabetes, cardiovascular solutions, and consumer healthcare.
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