ACI plans to export pharma products to US
ACI HealthCare, a subsidiary of ACI Ltd, plans to take its pharmaceutical products to the US market.
ACI HealthCare will seek permission from the authorities to open a subsidiary in the US, according to a web posting of the Dhaka Stock Exchange.
The purpose of the subsidiary will be to develop products and perform regulatory, marketing and distribution activities to facilitate operations of the pharmaceutical plant of ACI in Sonargaon of Narayanganj.
The factory is being built following US Food and Drug Administration's specification.
The plant will manufacture products for domestic and international markets.
ACI HealthCare was set up in 2013 with an aim to manufacture and market pharmaceutical products for regulated markets, especially for the US, according to the company's website.
ACI was listed on the stockmarket in 1976. Each share of the company traded between Tk 554.2 and Tk 566 yesterday, before closing at Tk 555.2.
The company's net profit stood at Tk 57.34 crore at the end of 2014 with consolidated basic earnings-per share of Tk 16.68, up from Tk 20.36 crore and Tk 5.94 respectively a year ago.
Sponsors own a 35.03 percent stake in ACI, while institutional investors 30.62 percent and the public 34.35 percent. Square Pharmaceuticals and Beximco Pharmaceuticals recently got the US nod to export pharma products to its market.