01/08/2022
Last Thursday, on behalf of my company, Eden Botanicals Limited, I signed a J.V Partnership with a USA based firm that has a great track record in extraction and formulation technologies for natural health products. This partnership gives the firm a 15% shareholding in Eden Botanicals Limited and heads the technical department.
It includes the installation of extraction equipment with a daily capacity of 2723kg(6000LBS) in Nigeria and also gives us access to their extraction plants in the USA and Europe. It will be the first of its kind in Africa. It also includes training of our personnel in the extraction process. Nano and Liposomal equipment and transfer of technology are also added to the partnership.
We would be able to produce active pharmaceutical agents, that hitherto, larger imported, produce natural drugs for Tropical disease, dietary supplements, hops for the beverage industry, botanical extracts for flavour and fragrance industry, various drugs bases, common and compound alkaloids and chemical intermediaries, essential oils, terpenes and many more.
We will also offer toll services for other pharmaceuticals and herbal medicine manufacturers.
Since almost 98% of the raw materials will be sourced locally, it will create thousands of jobs both directly and indirectly.
According to Mckinsey,” The value of Africa’s pharmaceutical industry jumped to $20.8 billion in 2013 from just $4.7 billion a decade earlier. That growth is continuing at a rapid pace: we predict the market will be worth $40 billion to $65 billion by 2020” We have largely depended on importation with over 8000 medicinal plants available in Nigeria, not to mention other African nations.
It is a known fact that over 70% of synthetic drugs are derived from nature.
Over 80% of the world population uses natural medicine, the same is applicable for Africa.
It has been well established that herbal medicines have few or negligible or unwanted side effects/adverse effects. It may be due to inappropriate purification method or procedure, adulteration, inappropriate formulation or lack of understanding of plants or drug interaction, high or heavy metal toxicity and pesticides or insecticides but all these concerns we have mitigated by partnering with research companies and laboratories. One of our partner firms will provide prescribed dosage using their scientific and computational platform and to understand drug to drug interactions before hitting the markets with new products.
This is the dawn of a new era!
