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Radiant Pharma buys Julphar’s Bangladesh plant for Tk200cr

Dhaka, Saturday


15 February 2025


Business Insider Bangladesh

Radiant Pharma buys Julphar’s Bangladesh plant for Tk200cr

BI Special || BusinessInsider

Published: 03:56, 21 January 2021   Update: 03:57, 21 January 2021
Radiant Pharma buys Julphar’s Bangladesh plant for Tk200cr

Business Insider

Local Radiant Pharmaceuticals has bought Julphar Bangladesh Ltd, a subsidiary of Julphar, UAE, for around Tk200 crore in one of the largest takeovers in the country’s pharma sector.

Nasser Shahrear Zahedee, chairman of Radiant Pharmaceuticals, confirmed the takeover to Business Insider Bangladesh.

“We wanted to expand, but it takes at least three years to set up a factory and start operations. As Julphar wanted to be sold, we bought it,” said Zahedee.

Insiders at Julphar Bangladesh said they were facing trouble running the business, such as in marketing, distribution and getting approval from the authorities.

Mutual Trust Bank has funded Radiant to acquire Julphar.

“We have lent Radiant Tk85 crore to buy Julphar,” said Syed Mahbubur Rahman, managing director and CEO of the bank.

Julphar Bangladesh started its journey on July 31, 2009. Its owner was the ruler of Ras Al Khaimah (RAK). Its factory is located on an area of 228,705 sq ft under Sreepur Upazilla of Gazipur District. The facilities have the strength of a general manufacturing unit, dedicated Cephalosporin unit, advanced three-layer floors, prototype research and development laboratories, effluent treatment plant and advanced water treatment system with recycling facilities.

Julphar is the 48th largest drug maker in Bangladesh, while Radiant is the 11th biggest, according to the IQVIA 2020. IQVIA, known as Quintiles and IMS Health, Inc, is an American multinational company serving the combined industries of health information, technology and clinical research.

The acquisition will make Radiant one of the top 10 drug makers in the country in a year, industry insiders said.

Over 200 pharmaceutical companies are registered in Bangladesh, but top 10 companies hold two-third shares of the market. They make branded-generic products.

Local market size of pharmaceuticals was nearly $3 billion in 2020. The industry grew at over 16 percent between 2014 and 2018.