Comrade Idowu Osuolale Obasa is the Chairman, Bradford Pharmaceutical Company. The two term Chairman of Onigbongbo Local Council Development Area (LCDA) spoke to journalists recently at the official public presentation of the company’s products. OMOGBOLAHAN ADISA was there for thegazellenews.com. Excerpts:
Q: Sir, with so many pharmaceutical products in the market, what are the unique qualities of the Bradford Pharmaceutical products?
A: The unique quality of these products is efficacy. These products have been tested and certified by people. You are witnesses to various testimonies of people who have taken the drugs one time or the other. I’m assuring you that these products work. Those who have used the products have been commending them and recommend them to people. These products are going to sell on the basis of their efficacy.
Q: How affordable are the products?
A: They are extremely affordable. I want to assure Nigerians that we are rolling out products into the market which they can afford. We are aware of the purchasing power of the average Nigerian and we are producing and offering for sale products that our people can afford. Go and do your survey in the market and you find out that our products compared to others are extremely affordable yet with high potency and efficacy although we may not be the cheapest.
Q: What brought about the decision to veer into producing pharmaceutical products?
A: We are a pharmaceutical company and what we do is to produce good products for our people. This is what we do.
Q: The direction of my question is why did you, a chartered accountant decide to go into pharmaceutical sector of the economy?
A: I’m a businessman! Yes I’m a trained accountant but don’t forget the fact that I’m also a businessman, an entrepreneur. An entrepreneur sets up a company with the twin aims of serving the people and making profit. So I’m an entrepreneur.
Q: What are the strategic marketing programme put in place by your organisation to make the products known since they are new in the market?
A: What you are asking for is our company’s secret which I cannot reveal to you but I can assure you that we are going to market the products efficiently and effectively. You can see the way we do the official presentation that gives you an inkling into how we are going to market the products. We will market them that I can assure.
Q: There is always a problem with new product, that is problem of immitation, how do you intend to face this problem?
A: By the special grace of God, we will crush the problem. We are aware of this particular problem and we are relying on God to tackle this.
Q: For some products, the producers educate consumers on particular features to watch out for, are you also doing this?
A: We will of course present our consumer guide to the people which will explain the unique features and characteristics that will distinguish our products from immitation.
Q: How do you intend to tackle competition from your rivals?
A: I do believe that in spite of the stiff competition, the products are still not enough. As an economist, what we believe is that more supply of a particular brings about a crash in price but this has not happened in the pharmaceutical sector. This means there are not enough products in the market so we still need to produce more.
Q: What are your plans for expansion?
A: Of course we have high plans for expansion. By the time we are one year old, we will have more products in the market. We are starting with these four which are family health products. However, we are doing more in this area. For instance we don’t drugs for malaria and typhoid fever yet and these are also part of family health.
So by the grace of God, but by the time we clock one, we will have more products in the market.
However the number of products in the market is insignificant if they are not effective hence we are not interested in entering the market with many products but we are much more interested in the efficacy of our products.
Q: What is the relationship of your company with regulatory bodies of the pharmaceutical sector?
A: We have contacted them, make necessary application and you can see that many of them were represented here today. We have applied to the NAFDAC and we have their approval for all our products after they have gone through their test. The Health Safety Organisation was represented here today. We will continue to work, collaborate and cooperate with them to ensure a healthy society for our people.