These foreign owned shares were sold to Nigerian investors and witnessed the ascendancy of companies like Biode,Leady Pharma and Rajrab(1980),Biomedical Services(1981) and a host of others.Like the federal government,the Bendel State government also established production facilities in the country.It also encouraged local companies to begin to think inwards,combining simple dosage formulation alongside production of more sophisticated dosage forms.This bore fruits so that by 1980,local drug production had skyrocketed from below 5perc.to 20percent.What a positive trend that engendered uncommon optimism and bright prospects,as well as it grew investors'confidence in the industry,with landmark growth impact on the local economy.In the fourth phase era,there was severe damaging effect,on local economy,reversing the positive trend,recorded in the 3rd era.This was due toexcessive over dependence on imported finished products.There was scarcity of goods including phamarceutical products,a new phenomenon of t
he era
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