Radiant Pharma acquires Julphar for Tk 140cr
Radiant Pharmaceuticals has acquired Julphar Bangladesh, a subsidiary of United Arab Emirates-based multinational Julphar Gulf Pharmaceutical Industries, for around Tk 140 crore.
It is the latest development in a series of what seems to be an exodus of multinationals selling off their local ventures such as Pfizer of the US, Hoechst of Germany and Organon Pharmaceuticals of the Netherlands.
Soon to follow suit is Sanofi-Aventis France while GlaxoSmithKline of the United Kingdom has conducted lay-offs at their Bangladesh factory.
Radiant is one of the top 12 companies in terms of sales of drugs in the country. The company makes products for both local and international markets. In 2016, the company s drug sales amounted to Tk 609 crore. In 2020, the company s sales amount was Tk 861 crore.