The Management of Neimeth Pharmaceuticals Plc has stated that an entire stock of raw materials at the company’s warehouse were destroyed following a fire outbreak which occurred at the facility, last week Tuesday 7th March.
In a statement filed with the Nigerian Stock Exchange, NSE, the pharmaceuticals firm stated that it “experienced an inferno which affected a section of the Manufacturing plant specifically the Raw Materials Warehouse on Billings Way Oregun, Lagos.”
The statement signed by Head Corporate Affairs/ General Service O.E Nwaka, said the incident occurred at about 3am on Tuesday 7th March 2017 and was brought under control by a combined team of Lagos state fire Service and LASEMA.
“Although the inferno was limited to the company’s warehouse, it consumed the entire stock of raw materials in the facility,” it said
The company however noted that efforts are being intensified to ensure that the incident does not in any way jeopardize the operations of the company
Neimeth Pharmaceuticals Plc is one of the top firms in health sector listed on the Nigerian Stock Exchange.
The firm declared a profit of N116.7 million for the first half of 2016, improving its bottom line by over 300 percent from a loss of N56.7 million declared in the first half of 2015.
The company’s share price recorded a slight change of 2 kobo from 69 kobo to 67 kobo during the week of the fire incidence.