Intravenous Infusions targets GH¢50m market expansion

Pharmaceutical products manufacturer, Intravenous Infusions PLC, says the company is ready to inject additional equity capital of GH¢50 million into the company’s operations in an expansion drive.

The company’s management indicated that the decision is to help address funding gaps and to tackle supply chain challenges to ensure timely availability of raw materials for production.

Intravenous Infusion’s board chair, Mr Isaac Osei, who was addressing shareholders and participants at the company’s 2024 Annual General Meeting, explained that the company’s quest to expand is aimed at maximizing revenues and profits, with strategies including continuing expansion in both domestic and international markets.

“This capital injunction will also enable the company to expand to the retail parts of the pharmaceutical value, enhance our brand name through collaboration with key stakeholders” he said.

Giving account of the company’s performance for last year, Mr Osei noted that though the company’s products remain the preferred brand in the marketplace, supply chain challenges and working capital challenges arising from the effects of debt servicing, affected the company’s fortunes last year.

These mishaps, he explained, affected the company’s capacity to import raw materials timeously for production.

“Our staff are prepared to work to address these challenges to drive the needed growth in revenue and profitability” Mr Osei assured.

Over the year 2024, the company recorded a reduction in revenue by 20.6 percent year-on-year basis. This reduction in addition to the net exchange losses of GH¢1.98 million resulted in net loss of before taxation of GH¢0.48 million recorded during last year.

Managing Director of the Company, Mr Moukhtar Soalihu, says the company’s resolve to embark on product expansion through collaborative partnerships is unwavering.

“With the intention to expand our products base, we are fervently planning to enter Ivory Coast, Liberia, Sierra Leone and other key destinations in the sub region” Mr Soalihu indicated.

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