Japanese firm to buy JMI Pharma stake
Author / Source : Staff Reporter
DHAKA, DEC 5: Nipro Corporation, a globally known Japanese pharmaceutical industry giant, announced Monday the purchase of around 51 per cent stake of a local pharmaceutical company for US$10,481 thousand.
The company, JMI Pharma Ltd, will change its name to Nipro JMI Pharma Ltd after the takeover, an official said. According to a press statement from the company, it eyes more market share of pharmaceutical products in Bangladesh, as the market expands approximately 15 per cent every year.
JMI Pharma is a concern of JMI Group, which has already commenced joint-venture with Nipro Corp about medical equipment business.
“We will work hard to develop new drugs with our manufacturing technique of pharmaceutical products and enforce domestic sales in Bangladesh,” a Nipro Corporation official said.