The Hindu : Andhra Pradesh News : Dhaka-based pharma unit for tie-up with Indian firm

Online edition of India's National Newspaper
Wednesday, Apr 20, 2005

Andhra Pradesh

Andhra Pradesh

Dhaka-based pharma unit for tie-up with Indian firm

Special Correspondent

HYDERABAD: The Dhaka-based Square Pharmaceuticals Limited is firming up a tie-up with an Indian company to set up a joint venture for making bulk drugs and also planning to partner with healthcare providers to make available advanced medical facilities in remote areas of Bangladesh.

The company's managing director, Tapan Chowdhary, who visited a private hospital in the city on Tuesday, told The Hindu that his firm had also diversified into textiles and telecom.

The turnover in textiles and pharmaceuticals was around $ 300 million. Bangladesh, bracketed under the category of "least developed country", was allowed to manufacture all the patented drugs up to 2016.

`Almost finalised'

The project, to set up a joint venture at Dhaka for manufacturing bulk drugs, was "almost finalised" with a leading Indian pharma company, he said, declining to divulge the name. Mr. Chowdhary said the project was expected to be commissioned by the end of 2006.

On healthcare collaboration, he said: "India is a very good model for us."

It was proposed to work with leading hospitals for technology transfer, including telemedicine and in providing super-specialities. A hospital and an institute of medical and allied sciences is being established in Dhaka under the aegis of Square.

"It is not purely a business venture. A 10 per cent of the facilities will be earmarked for those who cannot afford," he said.

Stressing the need to expand the bilateral trade between India and Bangladesh, he said the exports from India were to the tune of $ 1.5 billion and imports from that country of the order of $ 60 million.

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