Adcock plans expansion into Nigeria

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Adcock, which scrapped a bid for rival Cipla Medpro (CMPJ.J: Quote) in 2009, has been looking for new revenue streams and hopes to generate 30 per cent of its earnings from outside South Africa in two to three years.

It finalised the acquisition of Ghana’s Ayrton last year and increased its pipeline of drugs by teaming up with U.S. firm, Merck Co, to co-promote drugs in sub-Saharan Africa.

Adcock, which on Tuesday posted a flat first-half profit, is now looking at Nigeria, sub-Saharan Africa’s largest economy after South Africa.

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