Investment policies of multinational pharmaceutical manufacturing firms in Nigeria

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Periodical article

Title:	Investment policies of multinational pharmaceutical manufacturing firms in Nigeria
Author:	Achime, Nwabueze H.
Year:	1998
Periodical:	The Nigerian Journal of Economic and Social Studies
Volume:	40
Issue:	1
Pages:	51-65
Language:	English
Geographic term:	Nigeria
Subjects:	multinational enterprises pharmaceutical industry
Abstract:	Although there have been some elements of net increases in the response rate of equity to the indigenization policy of the pharmaceutical manufacturing industry in Nigeria, there has not been any significant increase in investment in indigenous pharmaceutical technology. Consequently, the ownership structure of pharmaceutical technology and patents has placed the control and management of the subsidiaries of multinational pharmaceutical manufacturing firms in the hands of corporate managers at the parent headquarters. At the end of 1980, the Nigerian pharmaceutical formulation industry was based largely on the output of the following American and British multinational pharmaceutical firms: Pfizer Products, Sterling, Glaxo Wellcome, Beecham, and May and Baker (Embecham). Frequent changes between 1970 and 1997 in public policies arising from political and economic uncertainties have produced a negative effect of low investment in indigenous pharmaceutical technology on the part of the multinational pharmaceutical manufacturing firms in Nigeria. Bibliogr., note, ref., sum.