Nigeria’s pharmaceutical stocks are leading the Nigerian Exchange (NGX) this year, with Fidson Healthcare, Neimeth International, Mecure Industries, and May & Baker Nigeria delivering some of the market’s biggest year-to-date (YTD) gains on the back of strong earnings and local production growth.
As of October 13, Fidson has surged 181 percent, rising from N15.50 to N43.50. Neimeth has gained 162 percent from N2.29 to N6.01, while Mecure Industries is up 104 percent to N28.40. May & BakerNigeria has advanced 84 percent, from N9.40 to N17.30.
While the NGX All-Share Index has risen roughly 43 percent this year, several pharmaceutical stocks have outpaced the broader market by a wide margin. The divergence reflects how investors are rewarding firms showing real industrial expansion in an erratic macroeconomic environment.