MeCure Industries Plc has received the approval of its shareholders to raise N50 billion through a rights issue as part of its plan to strengthen its finances and expand its business across West Africa.
The approval was given during the company’s third Annual General Meeting (AGM) held in Lagos. Shareholders expressed confidence in the company’s future and promised to support the fundraising exercise, which is expected to improve working capital, finance expansion projects, and boost overall business operations.
The decision comes after MeCure reported an outstanding financial performance for the 2025 financial year. The company’s revenue increased by 69 percent, rising from N46.03 billion in 2024 to N77.69 billion. Earnings before interest and tax also recorded significant growth, climbing from N8.28 billionto N16.43 billion.
Profit after tax showed the strongest improvement, increasing by 177 percent to N6.46 billion. The company credited this success to improved efficiency, better cost management, strong demand for its pharmaceutical products, and continued investment in innovation.
As part of the meeting, shareholders also approved a dividend payment of 32 kobo per ordinary share, amounting to N1.29 billion. They praised the board and management for achieving excellent results despite Nigeria’s difficult economic conditions, including high inflation, rising interest rates, and foreign exchange challenges.
The National Coordinator of the Independent Shareholders Association of Nigeria (ISAN), Moses Igbrude, described MeCure’s performance as one of its strongest in recent years. He noted that the company achieved remarkable growth despite the country’s challenging business environment.
Chairman of MeCure Industries, Samir Udani, assured investors that the company remains committed to transparency, accountability, and strong corporate governance. He said the dividend payment reflects the company’s dedication to rewarding shareholders for their continued trust and support.
Udani explained that MeCure’s growth has been driven by cost-saving measures, product innovation, business expansion, and a wider range of pharmaceutical products. He added that the company remains optimistic about future opportunities, especially as government policies continue to encourage local pharmaceutical manufacturing and improve the business environment.
According to him, growing healthcare awareness, Nigeria’s increasing population, and higher demand for quality medicines are expected to support the company’s growth in the coming years. He believes these factors will help MeCure maintain its strong business momentum into 2026 and beyond.
The proposed N50 billion capital raise will provide additional funds to strengthen the company’s financial position, improve operational efficiency, reduce the impact of rising financing costs, and support strategic expansion across the region.
Beyond its financial achievements, MeCure also expanded its product portfolio by obtaining regulatory approval for 19 new pharmaceutical products covering cardiovascular, anti-infective, and metabolic treatments. Four additional products are currently awaiting approval.
The company also entered the Sierra Leone market by securing distribution agreements for four container shipments, marking another important step in its strategy to expand across West Africa and strengthen its presence in the regional pharmaceutical industry.
