Intravenous Infusions to inject GH¢50m in fresh capital for expansion
Pharmaceutical manufacturer Intravenous Infusions PLC has announced plans to inject GH¢50 million in additional equity capital into its operations as part of an ambitious expansion drive.
The company says the move is aimed at closing funding gaps, addressing supply chain challenges, and ensuring the timely availability of raw materials for production.
Board Chair, Isaac Osei, speaking at the company’s 2024 Annual General Meeting, explained that the fresh capital will support growth strategies, including expansion into both domestic and international markets.
“This capital injection will also enable the company to expand into the retail segment of the pharmaceutical value chain and enhance our brand name through collaboration with key stakeholders,” Osei stated.
Reviewing the company’s 2024 performance, he noted that although Intravenous Infusions products remain the preferred brand on the market, supply chain disruptions and working capital difficulties, exacerbated by debt servicing, hampered operations last year.
These challenges delayed the importation of raw materials and weakened production capacity.
As a result, the company recorded a 20.6 percent year-on-year drop in revenue and posted a net loss before tax of GH¢0.48 million, compounded by net exchange losses of GH¢1.98 million.
Despite the setbacks, Isaac Osei expressed optimism: “Our staff are prepared to work to address these challenges to drive the needed growth in revenue and profitability.”
Managing Director, Moukhtar Soalihu, reaffirmed the company’s commitment to growth through partnerships and product expansion, adding that Intravenous Infusions is preparing to extend its footprint into Ivory Coast, Liberia, Sierra Leone, and other key destinations in the sub-region.
