Home ›› 18 Dec 2021 ›› Stock
The construction work of ACME Laboratories’ active pharmaceutical ingredient (API) plant is likely to finish by June next year and go on stream immediately.
The publicly traded drug-maker is now eying more growth in the coming days as the new project will decrease its dependency on imports of raw materials, according to its annual report for FY21.
“The construction of API project is going to finish within the stipulated time. After having a glimpse of its latest facilities, plenty of foreign countries are now truly interested in contract manufacturing at our facilities,” said its Managing Director Mizanur Rahman Sinha.
Under a government initiative, an API park is being set up at Gazaria of Munshiganj with an aim to manufacture the pharmaceutical raw materials locally. The leading pharma companies, including ACME Laboratories, have been allotted plot in the park to set up factories.
Once the API Park is completed, the home-grown drug-makers would produce a substantial portion of their raw materials from the API Park units. It will reduce the reliance on imports of raw materials.
The API Park is expected to create job opportunities for about 25,000 unskilled and semi-skilled labourers.
At the same time, the pharma companies may earn foreign currencies by exporting the surplus ingredients manufactured in their plants.
According to its annual report, ACME Laboratories earned Tk 77.25 crore from export in the financial year 2020-21, which is 3.72 per cent of its net revenue -- Tk 2,077 crore.
However, ACME’s performance was poor, especially in consumer health segment or development of any generic antiviral drug, amid the Covid-19 pandemic, comparing to its peers, said a research carried out by EBL Securities.
The research said ACME’s growth was slower than its major competitors during Covid-19 pandemic. The company recommended a 25 per cent cash dividend for the last fiscal year.
