Relying on consumer insight through research, SKG Pharma Limited has unveiled three new products in the Nigerian market at its annual trade partners’ conference in Lagos.
The first two new products – Novalyn Cough Linctus and Novalyn for children – are designed for soothing relief for cough in adult and children, and it is said to contain purified honey, lemon oil glycerol, ipacaunha and lime oil. Quoting World Health Organisation, the management of the company said that purified honey which has various health benefits is effective in treating cough.
The company also introduced Biophage, an oral hypoglycaemic agent used in the management of diabetes mellitus. The brain behind this particular product is as a result of the high incidence of diabetes mellitus among both the aged and young ones. “To satisfy our consumers we embark on a lot of research on our product development,” Oke Akpa, managing director, said.
“The launch of the new products are in line with this year’s conference theme – Accelerating Business Growth, which in essence means that the new products will join other existing products Primpex, Metrotab, Metropaed, Nova-3-Sulfa, Talidine, Galcipro TN, Lumal, Kings Tonic, and Cenocide to fast track the market share of SKG Pharma, Akpa said.
He said the objective of the conference was to review the business in the last year and evolve new strategies to meet the challenges of the new year.
The business interaction by the company is spurred by the need to prepare its trade partners with necessary managerial skills in running their businesses for greater performance, especially in dynamic and competitive time.
Discussing with business partners, Lere Baale, a management consultant, urged the trade partners to always remember that there were three key reasons why a man was in business: stability, sustainability and innovation. “When these three factors are in place, the growth of business will be accelerated on a geometric progression, which will add value to every party in the business,” Baale said.
Olumide Akintayo, president, Pharmaceutical Society of Nigeria (PSN), who was special guest of honour, expressed his happiness with the management of SKG Pharma for innovation and quality of its range of products.
According to him, “our profession is a broad spectrum with a value building capacity and this conference also serve as a spectrum of networking. As trade partners we are one family with a common goal to build a strong virile industry, to deliver healthy and quality pharmaceutical products.”
The PSN president urged the federal and other levels of government to encourage local drug manufacturing companies like SKG Pharma by patronising them instead of importing from India and other countries. “It is a tragedy if these companies are coming up with essential medicines and you are spending billions of naira to import the same thing from other climes. We will continue to interact with the government to see a need to do more than it is currently doing to patronise local pharmaceutical industries,” he said.
Stories DANIEL OBI