Nigerian pharma mogul Stella Okoli steps back from running her drug company
Stella Okoli has handed day-to-day control of Emzor to senior executive Uzoma Ezeoke and urged Nigeria to back local drugmakers.
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Stella Okoli has handed day-to-day control of Emzor to senior executive Uzoma Ezeoke and urged Nigeria to back local drugmakers.
Stella Okoli's Emzor has raised N26.7bn ($19.8m) at a 19% coupon to finish West Africa's first antimalarial API plant a Sagamu facility that was due to open in late 2025, then early 2026, and is still incomplete.
Emzor is investing $23 million in Nigeria’s first API plant to cut drug imports, lower costs, and boost medicine security.
The plant, slated to begin local production in the fourth quarter of this year, marks a significant step toward reducing Nigeria’s reliance on imported medicines.
Emzor, which Okoli owns, will partner with the U.S. government to establish a processing facility for medical-grade groundnut paste.
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