Swipha Explains Reason For Closure

The management of Swipha has explained why it shut down the company, pointing out that it was due to a strike action embarked upon by its workers.

In a statement last week, Managing Director of Swiss Pharma Nigeria Limited, Gaby El Khoury, stated that the industrial action started after the company was acquired by a French Pharmaceutical Group, Biogaran, a subsidiary of Servier.

El Khoury explained that the acquisition was mainly part of its expansion plans to other African countries, which is expected to boost the company’s revenue despite the tough economic situation in Nigeria.

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In the statement, the MD said Biogaran agreed to put its money Swipha because of its trusts in Nigeria and Nigerian people, and also for its desire to provide through Swipha to all Nigerians access to quality and affordable medicines.

He noted that upon inception, the new management decided to lift the company up to its Group compliance and social policies, corporate governance and benefits for the employees.

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“Management decided to restructure the organisation to ensure efficiency by removing superfluous staff and eventually align the firm with global best practices.

“However, some of these policies appear to be unacceptable to some members of staff who preferred to slow down, then to hinder operation and embarked on strike since mid-December 2017 while all efforts to make them have a rethink about a promising future proved abortive.

“To safeguard company properties and prevent any form of hostility the management decided to officially shut-down operations temporarily,” he said.

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“The new management of Swipha strongly believes in Nigeria and is committed to its economic development and is resilient in its quest to engage modern new ways of working, best in class practices and high-level compliance standards, notwithstanding the financial loses the company may incur during this time.

“It is committed to doing all it takes to ensure that the company maintains and strengthens its position as a leader in the pharmaceutical sector,” El Khoury stated.

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