A major shareholder in Neimeth International Pharmaceuticals Plc, Clinoscope Services Limited, has purchased an additional 74.7 million ordinary shares in the pharmaceutical company for approximately N448.36 million.
The transaction was disclosed in an insider share-dealing notification filed with the Nigerian Exchange (NGX) on November 13, 2026, and signed by the company’s Secretary, Chinenye S. Adekanmbi.
The disclosure provides an update on the shareholding activity of one of Neimeth’s major investors.
Clinoscope buys 74.7 million Neimeth shares
The acquisition was executed in Lagos on November 10, 2026, at N6 per share.
- The purchase involved 74,726,661 ordinary shares.
- Clinoscope Services Limited was listed as a substantial shareholder in the notification.
- The filing classified the transaction as an initial notification of share dealing by an insider.
However, the disclosure did not state how many shares Clinoscope held in Neimeth before the purchase or the percentage stake it holds following the transaction.
Neimeth returns to profitability in 2025
The share purchase comes as Neimeth records a recovery in its financial performance, returning to profitability in the 2025 financial year after posting losses in 2024.
The company’s pre-tax profit stood at N1.49 billion for the year ended December 31, 2025, reversing a pre-tax loss of N854.43 million recorded in the previous year.
- Revenue increased by 64% to N7.37 billion from N4.49 billion, driven largely by its pharmaceutical segment, which contributed N7.18 billion.
- Gross profit rose by 71% to N3.35 billion, while operating profit increased to N2.71 billion from N18.89 million in 2024.
- Profit after tax recovered to N982.11 million from a loss of N885.33 million in the previous year.
Despite the earnings recovery, the company continued to face financing and liquidity considerations. Total external debt increased to N9.68 billion from N5.36 billion, while cash and cash equivalents declined to N1.61 billion from N2.15 billion.
Neimeth approves N50 billion fundraising mandate
Neimeth shareholders approved an additional N30 billion capital-raising mandate at the company’s 67th Annual General Meeting in June 2026, bringing the total approved fundraising ceiling to N50 billion.
- The new approval builds on an earlier N20 billion mandate obtained in 2025, of which approximately N2.44 billion had been raised through a rights issue, leaving about N17.56 billion unused.
- The expanded mandate allows the board to raise funds through public offerings, rights issues, private placements, commercial papers, bonds and other financing instruments, subject to regulatory approvals.
- The fundraising plan supports the company’s expansion ambitions, including the construction of a manufacturing plant in South-East Nigeria.
The plans also include potential expansion of its pharmaceutical product lines.
Neimeth shares closed at N7.20 on November 13, 2026, representing a 24.14% year-to-date gain on the NGX.
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