Sign Oregon Banking Agreement Online

Industry sign banking oregon agreement online

[Music] hello and welcome today on Bo I weekly we take a look at the bank of industries intervention in the pharmaceutical sub sector more specifically we zero in on fits in healthcare PLC a leading pharmaceutical manufacturing company here in Nigeria it was founded in 1995 with a multi-billion era intervention from the bank of Industry over the last 10 years fits and pharmaceuticals company now boasts of a globally competitive World Health Organization certified drug production plant located in Oregon State and carried airline a welcome to the program [Applause] [Music] [Applause] [Music] judson healthcare plc is a leading pharmaceutical manufacturing company in nigeria its seventh floor headquarters sits fine and dandy in the heart of O'Bannon Korell along the ever busy ikura do expressway lagos founded in 1995 as a local distributor of pharmaceutical products fritzen has positioned itself as the most preferred health care provider in sub-saharan Africa producing a wide range and class of pharmaceutical products for obstetrics and gynaecology vitamins and minerals cardiovascular medicines anti-infective x' and anti-malarials appetite stimulants as well as medicines for diseases of joints Hudson has been meeting the healthcare demands of the Nigerian people for almost a quarter of a century the goal is to be the number one pharmaceutical industry in Nigeria saving lives as well as providing value for investors despite the challenges of operating in a very tough economic environment the MD CEO dr. Fidelis I obey says the bank of Industry is instrumental to their steady growth over the years certain pharmaceuticals is today a manufacturer and distributor of over 250 brands of pharmaceutical you know products in this marketplace we have big established brands like support our bus teaming took seal or not we started in 1995 as a distributor of pharmaceutical products for multinationals and for importers but then we you know developed our own brands in 1996 since that time we began to only sell our own products now we D emphasize that D continue no discontinued distribution for multinationals we then move from contract manufacturing our own brands from India into owning our own factories in Nigeria and since then we have built three factories and the one that we're currently occupy is the largest pharmaceutical manufacturing plant in Nigeria that has over seven lines you have liquids tablets capsules dry powder you have infusions and you also have the auto mix which is basically eye drops and ear drops so basically this is who we are you've literally done different phases of expansion and weather of products of operations ever since you started I would like you to tell me or walk me through what rules the back of industry has played in this sets of expansions Bank of Industry as you know is one of those developmental institutions that has really helped in literally making Nigeria a manufacturing hub within West Africa when we were going into manufacturing we actually started with commercial looms that was pretty expensive for an industry like ours where what you need to manufacture must be of a particular standard right otherwise you will not have the kind of efficacious and acceptable product to the regulator nav duct there for the capital outlay for setting up performative platforms do good plant is pretty high you know and the the entry barriers it where is also very high so when we started it was basically you know through commercial bank loans however unfortunately in 2010-2011 we made an inroad into Bui and since then we have had loans literally at September cent right you know to do expansion to be our builder factories to expand our business and you know also working capital loans and that in itself has literally brought down the cost of production you know in our plant so Bua is one of those developmental institutions Nigeria must continue to emphasize and to expand you know upon let's zero in on the specifics I know they've been cyclones can you walk through these nodes and what they were specifically used for in terms of infrastructure in 2011 we got our first balloon of 1.4 billion naira which was basically to complete a biotech plant which is the current plan that we have which is the largest in Nigeria like I said and then in 2015 we then accessed another tranche of 700 million lire you know as the working capital loan now that we we have almost paid up you know the entire you know 1.4 billion that were first accessed we have accessed another two billionaire for further expansion of the blind for capacity expansion and for the introduction of new molecules or new products as it were in the plant and also working capital working capital as you know basically before you know the procurement of all imputes for manufacturing and also for marketing or can you also give me a sense of the impact of those interventions on one side the impact with any organization in terms of how much more jobs you are able to create and how much more production capacity that you have as a result of those intervention and then the linkages within the Nigerian economy or the own fighting train the pharmaceutical value chain and that intervention has been able to to create on aggregate when we got listed in 2008 it was essentially to act says chip phones you know from the stock market to build a factory and then there was a downturn almost immediately thereafter therefore we couldn't go for this second tranche of you know fundraise that we wanted to do so the only choice that was then available to us was to go to Bui and we went to Bui and began to work with voi until about 2010 when they finally approved the loan and we accessed it in 2011 that in itself shaved a minimum of about eleven percent of the cost of funding you know the project that made it possible for us to put up the plant much more cheaper than we would have if we were using commercial bank loans that's one - when we accessed the working capital that also reduced the cost of working capital you know for us so between accessing the loan for infrastructure and you know working capital right we were able to shave an average of about twelve thirteen percent of you know cost of funding all of that we're then given back right to the consumer primarily because we are known for selling affordable for manufacturing and selling affordable products so all of that we're imputes given back to the consumer and then you know ordinary Nigerian on the strip was then able to access quality products you know at affordable prices that's one in the ten years that we have been in the Nigerian Stock Exchange we have been dividend you know throughout that period the Bui loon was an amoeba right in those ten years we have paid about two billion as dividends in other was returns to share with us was has been about two billion during that period which represents roughly 7% annually on the average you know on their investment in terms of employment when we you know left the old factory for this new factory at the time we were leaving there were just about 250 staff but in this current factory we have 700 staff working with us you know currently that in itself you know tells you that the Bureau Island is all the Bui as an institution is an institution that Nigeria must continue to encourage in order to you know develop harmony fracturing capabilities without view I or such developmental banks I do not see how you can establish you know manufacturing you know institutions in Nigeria in you know in a place where commercial loan regimes between 18 and 23 percent right and where infrastructure the the the investment on infrastructure right is it means you know for manufacturers because you have to produce your water produce your own electricity you're literally local government to yourself I and it is only beYOU I learned that could have you know I'm sure or ensured a maximization you know of whatever funding that was available [Applause] [Music] [Applause] even though fits in began as a local distributor of pharmaceutical products the goal was not to be a trading company they wanted to build a local from a suitable giant that was globally competitive today fits and boasts of a self-sustaining World Health Organization certified plans covering a 12 acre land area in orthogonal state well a couple of concentrations when the idea to set up this kind of facility came to our mind we looked at the terrain that is the former manufacturing space and we found out that what octane at that time wasn't something one can believe part of us the best the negative for Masse's common factor leadership or offer and don't forget that when the company was battered the dream of the promoter of the business was not just to start as a trader concern that's to manufacture and you knew the man we're talking about anything that was to go into the next to be the best in it therefore when we looked at the theory then we couldn't really find an economy that could proudly represent nigeria in terms of practices in terms of structures in terms of even offering product offerings to the market therefore we set us to put up a facility that would one be comparable to the best in the world to the one that can give our own people good quality medicines just like any other people especially in european america were able to get 3 - also upgrade the pharma industry for people to see us and be something that they look up to so they to emulate begin to also be the vanguard of expanding the former space it does of quality of structures quality of services quality augment our quality of the products offer to the market the company has also played defining roles in the emergence of a new generation of industry players through innovation excellence passion integrity and ownership fits and currently runs a high standard of quality control with occurrence Good Manufacturing Practice cGMP compliant facility a cgmp is a primary regulatory standard for ensuring quality in the pharmaceutical industry fits and is also one of a few Niger inform a suitable manufacturers in line for the World Health Organization's GMP certification and here is why we have a doctor the system that works for us and that's the quality management system the system it completes current good manufacturing practice as well as using whu-oh standard as a guide to the way we operate our processes include one the premises and the facility yeah we look at the I gene we look at the health and safety of our staff you look a good housekeeper we ensure that the temperatures and the humidity of all our environments are monitored as well as in microbial to prevent contamination of such products they will also look at our equipment every equipment that resides in this facility is qualified qualification ensures that the specification and operations of the equipment is for its intended use we also look at our processes which is key to ensure consistency in the delivery of products that meets our consumer in the markets we ensure that all processes are validated and the validation of all processes ensures this consistency we also look at the personnel one thing about current good manufacturing practice in the fact that it evolves and as such the capacity of our star also needs to evolve and what we do we engage in constant training building in the capacity of our staff and we ensure that this is carried out as per requirement we look at the areas of our stability ensuring that the shelf life of tradoc's are determined there must be a stability studies carried out on each product that is found in the market every got material that comes into the system most undergo analysis even before then we ensure that the suppliers of such materials are qualified to make sure they are what they are compliant with GMP requirements before we receive such materials into our facility even with that we carry out analysis to determine whether they are the correct raw materials al-isra' that did meet with the specification intended for them we also look at our finished products every product is manufactured that's Wi-Fi goes through the stringent controls in manufacturing whereby quality has an overview we also ensure that we carry out the needed analysis for such products to ensure that whatever comes out meets the standard meets the requirement is safe and it has its efficacy in due to what it's intended for water is key to the production of drugs and that's why fits and takes its water production and purification processes very seriously common factor and process start from having good water you must be able we we have our water processes in Sochi with that the water is chlorinated online that is deposited disaffection from the bahu that it goes through what we call water treatment processes that start from soft in the water then after soft in the water you pass the water through what we call reverse osmosis system the reverse osmosis system removes every unwanted material from the water through what we call fine membrane and this water again is passed we were called process of the ionization digestion is the process they remove all on motet ions and particles and everything that we do not need in the water purify water now fits what we call the multi column distillation plants this is the plant that generates the water for injection the water for injection is what we use in the manufacturing of the infusions and the a drops this water for this purify water and also water for injection must be kept in constant loop circulation well a total of loose collision they must be in motion in such a way that you don't encourage stagnation because status because our aim is to maintain sterility of the products up to the end-user who is the patient in the hospital you can imagine a situation whereby an efficient product is given to a patient in the hospital and that patient that would not be of any benefit to the patient and equipment be detrimental to the health of such a patient so that is the reason why all these Indian processes are put in place in order to maintain that level of the required sterility and even therapeutic efficacy of the products drug and substance abuse has become a so points not just the Nigeria but globally doctor I ever believes the challenge can only give way in the face of collaborative effort the process of distribution is very well regulated what had happened is a few bad apples within the system right who took advantage right of you know the system as aware like every other thing to perpetuate something that is wrong now has been in it solves the problem it hasn't what you are essentially done is that you have exported right your capacity to produce the needs of your people right to all the markets because what you find today in the market are all smuggled you know codeine containing substances or tramadol and such things right so it's it's not the district distribution because there are very clear guidelines you know for communion or for distribution right now that is doing its level best or her level best to ensure that these guidelines are properly followed now the places where this product Arbit I've been distributed through I also registered by the France to cancel of Nigeria however in every society there are a few barrels right and those bad apple our apples should not define you know what we do what we should be doing is allowing common sense and good thinking to prevail right in addressing the problem because what we have done now is that we are expanded the market outside Nigeria and the things I just pouring in through the borders and the young boys are still getting hooked on it right so how do you then you know distribute smuggled substances there is no distribution channel for it other than with the legal channels right so it would have been better if this product remained controlled as the where right and we tighten a few loopholes here and there right and you will be surprised at how we tweak here and I trick there how it will curtail you know some of the chances of these things you know flowing into the wrong hands [Applause] there are several funds targeted at different groups of entrepreneurs at the Bank of Industry waiting for serious and qualified businesses to maximize you will do well to contact voi to ay visit their website a bo i dot ng or call at any of their branches closest to you and they are straight on over the country for further information feel free to tweet at me at KL I aligned a now previous editions of the program are all available on youtube.com simply type voi weekly in the search area and there you go that's our show for today mainly thanks for watching I'm Carolina d bye now [Music] [Music] [Music] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music]