Intravenous Infusions PLC raises GH¢50m to recapitalise

Shareholders of Intravenous Infusions PLC has approved the rights issue to raise GH¢50 million to recapitalise the operations of the Company.

It is to raise funds to service the Company’s debts, while expanding and addressing funding gaps to position the Company for growth and development.

Dr lsaac Osei, the chairman of the Board of Directors of Intravenous Infusions PLC, was speaking at the 2025 Annual General Meeting (AGM) of Intravenous Infusions PLC in Accra.

It is to present the annual report of the Directors, the audited financial statements for the year ended December 31, 2024 and the report of the auditors.

The Chairman said the company had decided to look within to offer existing shareholders the chance to buy extra shares.

He said the year-on-year inflation for 2024, declined from 28.7 per cent in December 2023 to 23.8 per cent in December 2024.

He said the ninety-one (91) day Treasury Bill rate declined by about 6 per cent year-on-year from 29.49 per cent in 2023 to 27.73 per cent in 2024, with the average lending rate for banks also declining from 33.75 per cent in 2023 to 30.25 per cent in 2024.

He said, however, while the major indicators showed positive trends, the cedi depreciated cumulatively against the United States dollar, the British pound and the euro by 18.6 per cent, 17.9 per cent and 16 per cent respectively.

He said over the year 2024, they recorded a reduction in revenue by 20.6 per cent year on year basis.

“This reduction in addition to the net exchange losses of GH¢1.98 million resulted in net loss before taxation of GH¢0.48 million recorded during 2024.

He said the reduction in revenue was not due to lack of effective orders from customers or the intensity of the competition, while their products remained the preferred brand in the marketplace.

Dr Osei said at the operational level, they would implement a short to medium term strategic policies aimed principally at maximizing revenues and profits.

These policies include continued expansion in both domestic and export markets, product expansion through collaborative partnerships with other foreign and local companies and expansion into new product lines to optimize the production value chain.

It is also to expand the retail parts of the pharmaceutical value chain and enhance the brand name and image through collaboration with key stakeholders and increasing social responsibility work.

“All of these will enable our company to address supply chain challenges to ensure timely availability of raw materials for production,” he added.

He said in view of the financial performance for 2024, the Board did not recommend the payment of dividends for the year.

Mr Moukhtar Soalihu,?Managing Director of Intravenous Infusions PLC, said there were challenges in the past year with respect to financing and “we need to look for funds to be able to fix that.”

He said it had affected the company’s capacity to bring raw materials, which ultimately affected revenues.

The Managing Director said the Company had drawn up a five-year strategic plan, seeking to diversify its product base, “from the current infusions that we are doing, to doing more of injectables.”

He said the plan was to roll out about 16 new products, which were currently under research and development stage.

Mr?Soalihu?said, “We are working hard to see how we consolidate the existing gains that we have made, and also to see how we can expand precisely to the export market.”

He said the company was targeting Ivory Coast, Benin, Togo and Burkina Faso and also Liberia and Sierra Leone in its expansion plans.

Source: GNA

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