Renata PLC, a publicly traded pharmaceutical company, has received European approval to market Cabergoline 0.5 mg tablets for treating hyperprolactinemia and Parkinson’s disease. This approval, obtained through the decentralized procedure, grants access to several European markets including Ireland, France, Portugal, Italy, Denmark, Sweden, the Netherlands, Norway, and Spain. The tablets will be manufactured at Renata’s UK MHRA-approved facility in Gazipur and distributed across Europe through strategic partnerships. Additionally, Renata’s plant in Gazipur recently received FDA approval, allowing exports of Metoprolol Tartrate tablets to the US. The company’s stock price increased by 0.16% to Tk 770.20 on the Dhaka Stock Exchange. Renata, which started as Pfizer (Bangladesh) Limited in 1972 and was listed on the stock exchange in 1979, currently exports to over 30 countries. Despite a 54.8% drop in net profit for FY2022-23 due to increased raw material and energy costs, the company reported a 21.4% profit growth and 9% revenue increase for Q1 of FY2023-24, with a profit of Tk 72.62 crore and revenue of Tk 921.844 crore.
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