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A joint venture pharma tech company enters the market

Azbil Telstar Bangladesh starts its journey: Third from right, Mohammed Nasim, minister for health and family welfare, attends the launch of Azbil Telstar Bangladesh, a joint venture company of Japan-Spain-Bangladesh, at the Westin Hotel in Dhaka yesterday. Photo: Star

Azbil Telstar Bangladesh starts its journey: Third from right, Mohammed Nasim, minister for health and family welfare, attends the launch of Azbil Telstar Bangladesh, a joint venture company of Japan-Spain-Bangladesh, at the Westin Hotel in Dhaka yesterday. Photo: Star

Azbil Telstar Bangladesh, a joint venture among Japan, Spain and Bangladesh to provide high-tech solutions to pharmaceutical companies, began its journey yesterday(3 April 2014).

“We expect to help Bangladeshi pharma companies achieve the high level of compliance that the international market demands,??? said Ton Capella, chairman of the newly-formed company.

The company provides high-tech solutions in design, engineering and construction, and sells equipment and machinery to pharma companies.

The investment in the company is Tk 100 crore, according to SA Khan, managing director of SAKA International, which has a 35 percent stake in the company. The remaining 65 percent is owned by Azbil Telstar, a joint venture of Japan-Spain.

“Our long experience in working with Telstar for our local valued partners inspired us to bring an international level solution at an affordable cost to Bangladesh,??? said Khan.

“Our endeavour will have a big significance in cooperation among Bangladesh, Spain and Japan for this specialised sector which has big contribution to the gross domestic product of Bangladesh,??? he added.

Mohammed Nasim, minister for health and family welfare, who inaugurated the company, said: “It is my great pleasure to know that countries like Japan and Spain has taken great interests in this flagship sector of Bangladesh.???

Azbil Telstar is a globally renowned company in the pharma sector with a yearly turnover of €2.58 billion. The company invests 3 percent of its turnover in research, development and innovation of its technologies and equipment.

Pharmaceutical exports rose around 24 percent year-on-year to $59.82 million in fiscal 2012-13 thanks to growing demand for Bangladeshi medicines in Southeast Asia, Asia Pacific and Africa.

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Source: Daily Star

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