Renata country’s 1st eligible firm for birth control pill exports
Bangladeshi pharmaceuticals provide around 100 million cycle birth control pills across the country, of which, Renata supplies a big portion
From now onwards, Renata Limited will be able to participate in tenders held for exporting birth control pills in most countries as the World Health Organisation (WHO) has approved the company's Rajendrapur Potent Product Facility (RPPF), which allows the pharmaceutical to bid in tenders for birth control pills, according to Renata's stock exchange filing on Sunday.
It is the only factory in Bangladesh to receive WHO prequalification for birth control pills, said the disclosure.
An official of Renata said on condition of anonymity, "So far, no Bangladeshi drug maker has been able to bid in international tenders for birth control pills for not being approved by the WHO."
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"Normally, organisations and governments in the regions with high birth rate arrange international tenders for birth control pills where many WHO approved multinational companies participate."
Renata has become the first Bangladeshi pharmaceutical company to be able to bid and if the company wins the tender, it will be able to export, he added.
Locally, Bangladeshi pharmaceuticals provide around 100 million cycle birth control pills across the country, of which, Renata supplies a big portion, said the company official.
In the July to September quarter of 2022, Renata's revenue stood at Tk837.06 crore, which was Tk756.79 crore in the same period of the previous year.
During the period, its net profit stood at Tk124.52 crore and earnings per share at Tk11.62 crore.
In the 2020-21 fiscal year, it touched the Tk500 crore profit mark for the first time since its inception and paid 145% cash and 10% stock dividends to its shareholders.
The company started its operations in 1972 as Pfizer (Bangladesh) Limited.
In 1993, Pfizer transferred the ownership to local shareholders and the name was changed to Renata Limited.
The company has 10 manufacturing facilities spread over three manufacturing sites. Distribution of products is carried out by 19 depots across the country.
Renata Limited, which got listed on the Dhaka Stock Exchange (DSE) in 1979, exports drugs to 27 countries including Afghanistan, Hong Kong, Malaysia, Sri Lanka, Thailand, the United Kingdom, and Vietnam.
Till October 2021, sponsors and directors held 51.29%, institutional investors 19.28%, foreign investors 22.84%, and general investors 6.59% shares of the company.
The last trading price of the company's share at the DSE was Tk1,217.90 per share on Sunday.
