Standard Generics Limited is a private limited liability company incorporated in Nigeria on the 8th of August 1993 with registration number RC170584. It is a wholly indigenous company, owned and managed by a group of qualified and experienced, success-oriented and focused professionals in the field of pharmacy.

It secured license from the Ministry of Health through the Pharmacist’s Council of Nigeria to deal in pharmaceutical, chemicals, medical disposables and allied products in March 1993.

After a brief but very successful experience with local distributorships for importers and local manufacturers in Nigeria, we launched pharmaceutical products importation starting with Remed Pharmaceutical Company of Belgium in 1995. Soon we linked up with Eurodrugs Company and La Cure Pharma both basically of India before discovering the beauty of parallel importation of products of multinational pharmaceutical companies in the dying days of the operation of these companies in Nigeria.

So our affairs and business flourished in the years 1993 to 2000 during which period it imported majorly the products of multinational pharmaceutical companies based in Pakistan, India and Turkey. Business however soon turned difficult and risky subsequently. This was consequent upon the upsurge in the regulatory efforts of National Agency for Food and Drugs Administration and Control (NAFDAC), which instituted the current practice of pre-registration of imported pharmaceutical and medical products. Its operatives zealously disallowed the importation of unregistered products including those of multinational pharmaceutical companies (MNCs) which was further complicated by the outright embargo placed on certain groups of pharmaceutical products by the Federal government.

To make matters worse, it became extremely difficult to obtain franchise for the products of the multinational companies since we were only indirectly dealing with the manufacturers of these products who were themselves holders of franchises and almost always incapable of extending these rights to third parties.

In the ensuing re-strategizing and repositioning we attended some international pharmaceutical exhibitions in Europe and China and Indonesia and Dubai where we met suppliers from India, China and other Asian countries. We zeroed in on the suppliers of Chinese origin and today we have over thirty registered pharmaceutical products in our inventory produced on contract for us by three Chinese companies.

With these products we are clawing back to prominence in the Nigerian market reaching already yearly turn-over of $2.4 Million Dollars and still growing fast.

However with the Chinese products we have realized a limitation in terms of products sophistry and variations of formulations. We presently seek to smoothen this area by seeking a partnership in any form agreeable to both parties with an experienced company based in India. Bangladesh or Indonesia.

FUNDING AND OPERATIONS

Our business is financed solely by directors’ funds. However due to our experience and reliability we have good relationship with our banks who are ready when called upon at short notice to finance our operations.  But due to the increased acceptability of our current range of products in the market, we have a crop of distributors who are ever ready to invest in our products by making cash purchases as opposed to credit sales policy pursued by our competitors.

We are headquartered in Lagos, the commercial capital of Nigeria but with branch offices in Kano to cover the vast Northern market and another branch office in Onitsha catering for the South-Eastern market. We are presently searching for an office in Abuja to effectively cover the new capital City and the surrounding middle belt areas of the country.