Pharmaceutical Company Owned by Nigerian Billionaire Opens New Facility

May Baker Plc, a top pharmaceutical company in Nigeria owned by billionaire Theophilus Yakubu TY Danjuma, has opened a new facility in Anambra State. The CEO, Patrick Ajah, announced the expansion at the Association of Community Pharmacists of Nigeria 2025 Annual Conference in Awka.

The new facility will support May Baker's current depot operation in Onitsha and produce a range of products, including Niclovix and Roveda. The company aims to grow its market share and contribute to African health innovation.

TY Danjuma, who retired in 2019 after serving as board chair for 16 years, owns a significant stake in the company through TY Holding. May Baker's revenue increased to billions in the first half of 2025, showing promising growth in the pharmaceutical market despite high drug prices in Nigeria.

The company's expansion aligns with the government's efforts to stimulate local production of essential healthcare products.