Evans Therapeutics Ltd is a joint venture between Evans Medical Plc & Cipla Ltd, which was incorporated in 2003. The company seeks to provide quality essential prescription medicines at affordable prices to Nigeria.
The parent company, Evans Medical Plc, based in Lagos, Nigeria, was incorporated on 23 April 1954, under the name “Glaxo Nigeria Plc” to help in research, development, and manufacturing of safe medicine and nutraceuticals.
It became one of the biggest pharmaceutical manufacturer and distributor of medicines in Nigeria, with a manufacturing plant in Agbara, Ogun state. The company was listed on the Nigerian Stock Exchange in 1979, and changed its name to Evans Medical Plc in 1994.
However, the company faced financial challenges and owed debts, resulting in two banks, Skye Bank Plc and First Bank of Nigeria Limited, taking over its assets due to defaulted debts in 2017. In 2021, the board of the Nigerian Stock Exchange, NGX, removed Evans Medical Plc, from stock listing.
Rebranding
CIPLA Evans, which is a subsidiary of Evans Medical plc, was later changed to Evans Therapeutics Ltd. Evans Therapeutics has a manufacturing partnership with Indian pharmaceutical manufacturers, Cipla Ltd India & Bharat Parenterals PVT, India, helping them in the provision of affordable medicines.
The current managing director of Evans Therapeutics Ltd is Mr. Wale Oyenuga, a pharmacy graduate from the University of Lagos, who has a rich experience in sales/marketing & business strategy from his work at GlaxoSmithKline.
