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The board of directors of Renata Limited has given the approval to establish a subsidiary company in UK fulfilling the regulatory requirement to export in the EU countries in the name of Renata (UK) Limited.
Earlier in Januray18, the Renata informed that two factories—the Potent Product Facility at Mirpur and the General Facility at Rajendrapur—had approved by the Medicines and Healthcare products Agency (MHRA) of the UK.
The company also received registration for two products in the United Kingdom. The sales of Hydrocortisone 10 mg and 20 mg tablets started in February.
The government of Bangladesh has also approved the acquisition of two abbreviated new drug applications (ANDAs) by Renata.
Each share of the drug maker closed at Tk 1,237.60 each on Wednesday at the Dhaka Stock Exchange (DSE).
Renata, which was listed on the Dhaka bourse in 1979, disbursed 130 per cent cash and 15 per cent stock dividend for the year ended on June 30, 2017.
The company’s paid-up capital is 700.30 million, authorised capital is Tk 1.0 billion and the total number of securities is 70.03 million.
Sponsor-directors own 51.16 per cent stake in the company while institutional investors 17.61 per cent, foreign 22.39 per cent and the general public 8.84 per cent as on March 31, 2018.
The company’s consolidated earnings per share (EPS) was Tk 11.06 for January-March 2018 as against Tk 8.87 for January-March 2017.
In the nine months from July 2017 to March 2018, consolidated EPS was Tk 31.14 as against Tk 26.26 for July 2016-March 2017.
The company was founded in 1972 as a subsidiary of Pfizer Inc and the ownership transferred from Pfizer Inc. to local institutions and the general public in 1993.