Four pharmaceutical firms suffered N8bn forex loss in 2023 – Report

The weakening of the naira resulted in a combined foreign exchange loss of N8.31bn for four pharmaceutical firms listed on the Nigerian Stock Exchange in 2023. The 2023 financial statements of GlaxoSmithKline Consumer Nigeria, Neimeth International Pharmaceuticals, Fidson Healthcare and May and Baker Nigeria filed on The Nigerian Exchange were analysed by  Sunday PUNCH. GlaxoSmithKline