Bangladeshi Medical Tourism to India Soars by 48% in 2023

The International Finance Corporation (IFC) has committed a $58 million long-term loan to Renata PLC, a prominent pharmaceutical company in Bangladesh, to ease its working capital constraints amid US dollar liquidity challenges. The funding aims to stabilize Renata’s supply chain by enabling secure access to imported Active Pharmaceutical Ingredients (APIs), vital for uninterrupted medicine production.

In Q3 of FY 2024–25, ACI Limited reported a consolidated loss of Tk 13.69 crore, a sharp decline from a Tk 1.65 crore profit in the same period last year, despite a 17% year-on-year revenue growth to Tk 3,573.50 crore.

In Q3 of FY 2024–25, Renata PLC’s profit fell 20% year-on-year to Tk 58 crore, despite a 16% rise in sales to Tk 1,070 crore, driven by strong domestic demand. However, profits declined due to a 100% surge in finance costs, reaching Tk 45 crore from Tk 23 crore, amid rising interest rates.

In Q3 of FY2024-25, Square Pharmaceuticals reported an 18% year-on-year profit increase, reaching Tk 605 crore, while revenue rose 22% to Tk 2,012 crore. Its EPS climbed to Tk 6.83 from Tk 5.55, and for the July–March period, EPS reached Tk 21.15, up from Tk 18.24.

Two directors of Square Pharmaceuticals, Samuel S Chowdhury and Ratna Patra, each purchased 15 lakh shares, totaling Tk 64.58 crore, based on the DSE’s disclosed closing price of Tk 215.40 per share. These transactions, declared earlier in March, reflect continued confidence in the company, whose shares rose 0.05% during morning trading.

The High Court (HC) has canceled its previous order to appoint a receiver for managing Beximco Group companies, allowing them to operate under their own management while being supervised by Bangladesh Bank and other regulatory bodies.