Nigerian pharmaceutical companies listed on the Nigerian Exchange recorded a 46.5 per cent increase in combined finance costs in the first quarter of 2026, as high interest rates and growing reliance on debt continued to squeeze profitability across the sector.
For stock market-listed companies, finance costs (also called finance expenses or borrowing costs) are the expenses a company incurs from financing its operations through debt and certain financial obligations. They are reported in the income statement and are deducted from operating profit to arrive at profit before tax.
An analysis of unaudited first-quarter results by Sunday PUNCH showed that the combined finance costs of MeCure Industries Plc, Neimeth International Pharmaceuticals Plc and Morison Industries Plc rose from N2.09bn in the first quarter of 2025 to N3.07bn in the corresponding period of 2026, an increase of N972.96m.
The rise came amid a mixed bag of results for the companies, with some
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