Syndicated lenders' team visits plant of Popular Pharma
Wednesday, 2 July 2008
A delegation of the syndicated lenders recently visited the plant of Popular Pharmaceuticals Limited (PPL) to observe commercial production and current status of the project.
Syndications and Structured Finance Unit of Prime Bank Limited organised the visit programme as the lead arranger, said a press release.
SVP and Head of Syndications and Structured Finance Unit of Prime Bank Limited Md Touhidul Alam Khan coordinated the programme in favour of the lead arranger along with other officials and executives from participating banks and financial institutions (FIs).
The release said the syndicated term loan was sanctioned for setting up a state-of-the-art manufacturing facility for pharmaceutical formulations on the former FISONS premises at Tongi in Gazipur district.
The manufacturing site has been built with strict compliance of WHO cGMP standards and also meeting US FDA and UK MHRA regulatory requirements, the release added.
Nine banks and FIs that have participated in the syndication deals are Prime Bank Limited, Standard Bank Limited, United Commercial Bank Limited, Commercial Bank of Ceylon Limited, Trust Bank Limited, State Bank of India, BRAC Bank Limited, Export Import Bank of Bangladesh Limited (EXIM Bank) and SABINCO.
PPL went into commercial production in August 2005 and is engaged in manufacturing and marketing of pharmaceutical products of different dosages form like tablet, capsule, dry syrup, liquid, cream and ointment, injectables for both beta lactam and non-beta lactam group and eye products.
For the first time in Bangladesh, PPL is producing dialysis fluids, omeprazole and pantaprazole injectable and cardiac vitamin etc. So far it is producing and marketing 215 products till date.
PPL has started to export processing to different countries and the consequent is that they have exported their products to Kenya, Sri Lanka, Somalia and Maccau. PPL will export their product in Singapore, Yemen, Tanzania, Libya, Sudan, Nigeria, the Philippines etc in 2008.
Syndications and Structured Finance Unit of Prime Bank Limited organised the visit programme as the lead arranger, said a press release.
SVP and Head of Syndications and Structured Finance Unit of Prime Bank Limited Md Touhidul Alam Khan coordinated the programme in favour of the lead arranger along with other officials and executives from participating banks and financial institutions (FIs).
The release said the syndicated term loan was sanctioned for setting up a state-of-the-art manufacturing facility for pharmaceutical formulations on the former FISONS premises at Tongi in Gazipur district.
The manufacturing site has been built with strict compliance of WHO cGMP standards and also meeting US FDA and UK MHRA regulatory requirements, the release added.
Nine banks and FIs that have participated in the syndication deals are Prime Bank Limited, Standard Bank Limited, United Commercial Bank Limited, Commercial Bank of Ceylon Limited, Trust Bank Limited, State Bank of India, BRAC Bank Limited, Export Import Bank of Bangladesh Limited (EXIM Bank) and SABINCO.
PPL went into commercial production in August 2005 and is engaged in manufacturing and marketing of pharmaceutical products of different dosages form like tablet, capsule, dry syrup, liquid, cream and ointment, injectables for both beta lactam and non-beta lactam group and eye products.
For the first time in Bangladesh, PPL is producing dialysis fluids, omeprazole and pantaprazole injectable and cardiac vitamin etc. So far it is producing and marketing 215 products till date.
PPL has started to export processing to different countries and the consequent is that they have exported their products to Kenya, Sri Lanka, Somalia and Maccau. PPL will export their product in Singapore, Yemen, Tanzania, Libya, Sudan, Nigeria, the Philippines etc in 2008.