May & Baker Nigeria Plc is the best performing stock on the Nigerian Stock Exchange (NSE) in 2017.
May & Baker has gained 202 percent this year, outperforming all other firms and the NSE all share index as a whole which is up 23.8 percent this year to Friday June 09.
The drug manufacturer has a market capitalisation of N2.54 billion.
It is unclear why the firm is rallying but it was in the news recently for a joint venture agreement between the Federal Government and May & Baker to produce vaccines from 2017 to 2021.
The drug firm is involved in the manufacture, sale and distribution of human pharmaceuticals, human vaccines and consumer products.
The Company’s operating segments include Pharmaceuticals, Beverage and Foods. Its Pharmaceuticals segment is involved in the production and sale of human pharmaceuticals and human vaccines. Its Beverage segment is involved in the production of beverage drinks, including bottled water. Its Foods segment is involved in the production of package foods, including noodles.
The Company offers pharmaceutical products for anti-diabetics, anti-hypertensive, anti-infectives, anti-malaria, analgesic, cough and cold, multivitamin and anxiolytics. Its anti-diabetic’s products are sold under Diatab and Diamet brands. Its anti-hypertensive products are sold under Cardovasc Retard and Ramitace brands. Its food products are sold under the Mimee brand. Its beverages sector is engaged in the bottling of Lily brand of table water.