On August 3rd, 2023, GlaxoSmithKline Consumer Nigeria Plc (GLAXOSMITH) released a circular disclosing its decision to cease operations in Nigeria. The document outlined GSK UK Group’s plan to discontinue sales of prescription medicines and vaccines in Nigeria through the GSK local operating companies. In its stead, it intends to introduce a direct distribution model involving a local third-party, distributing GSK pharmaceutical product in the Nigerian market. It’s worth noting that GSK Group holds 46.42% of GlaxoSmithKline Consumer Nigeria Plc through Setfirst Limited (27.31%) and Smithkline Beecham Limited (19.11%), while the remaining 53.58% is owned by the investing public.
