Pharma Aids to buy Tk 11.38cr land for expansion

Glass ampoule manufacturer Pharma Aids is going to purchase 103 decimals of land at a cost of Tk 11.38 crore with the aim of expanding its business and modernising its manufacturing unit.

The company disclosed its plans on the website of Dhaka Stock Exchange (DSE) yesterday.

Md Humayun Kabir, company secretary, said the land was adjacent to the Nabinagar-Chandra highway in Kaliakoir of Gazipur district, close to the company's existing manufacturing unit.

The land will be utilised for the expansion of the existing facilities as demand for their products has been increasing day by day, he said.

On the other hand, the manufacturing unit needs to be modernised, he said.

He said basically the land would be utilised for the construction of a sophisticated manufacturing plant and enhancement of the production capacity of glass ampoules, including incorporation of a scope for product diversification in the future.

According to him, it would take at least two years to start the construction of the new production unit.

The company supplies its glass ampoules to around 35 pharmaceuticals manufacturers, particularly those who deal with injectables.

The existing manufacturing unit needs to be upgraded as per the demand of the drug manufacturers who are interested in going for exports, he said.

Glass ampoules have been widely used in packaging injectables.

Shares of the company closed at Tk 676.50 at the end of trading at the DSE yesterday, declining 1.01 percent from that on the last day of trade on Thursday.