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Julphar acquires stake in RAK Pharma in Bangladesh

RAS AL-KHAIMAH, February 11, 2015

Leading Emirati pharmaceutical firm Julphar has acquired a majority stake in Bangladesh-based RAK Pharmaceuticals, as part of its expansion plans in Asia, according to a report.

RAK Pharmaceuticals is a subsidiary of RAK Ceramics and produces a variety of industry compliant tablets, capsules and syrups to meet a regulated healthcare market. said the Emirates News Agency (WAM) report.

Julphar and RAK Pharmaceuticals have had a long term strategic alliance through a joint partnership around technology transfer and a commercial marketing agreement for advanced pharmaceutical products, it said.

"The size of the Bangladesh market alone provides huge investment opportunities, which can enhance the growing role of Julphar in the global healthcare industry,” Dr Ayman Sahli, chief executive officer of Julphar, was quoted as saying.

"The stable investment outlook and the growing healthcare needs of a large, mostly underserved population make Bangladesh an attractive market for investors. Healthcare plays a major role in the expanding economy for Bangladesh and with this comes a clear need for increased manufacturing,” he added.




Tags: RAK | Expansion | Asia | Pharmaceutical | Julphar |

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