Teva is taking another significant step starts business in Nigeria

Teva is taking another significant step to correct the large arrears of emerging markets. The Nigerian Business Day website reported that the company has partnered with Nigerian logistics company Imperial Logistics and Savante Consulting consulting firm for marketing generic drugs in Nigeria.
Nigeria is the largest country in Africa with a population of 214 million people, a median age of 18.4 and a relatively low life expectancy of 60 years, partly due to the prevalence of AIDS. Nigeria's GDP is $ 376 billion and GDP per capita is $ 5,900 (167th in the world).
Teva has so far neglected emerging markets, and its level of activity in the largest ones - such as Brazil, China, India and Nigeria - is low to zero. The company's sales in international markets amounted to only $ 2.2 billion in 2019, which is only 13% of its turnover, even though the international markets segment includes relatively large countries - such as Russia, Japan and Israel.
Teva CEO Kar Schultz talked about this issue critically at JP Morgan's annual pharma conference last month in California. And last week he said the company was protected from the outbreak of a Corona virus because it had virtually no presence in China.
Entering into a partnership in Nigeria brings nature back to its early days, when Eli Horwitz - the man who contributed most to becoming a world pharma giant - made an effort to penetrate the emerging continent.