Renata exported the first consignment of Cabergoline 0.5mg tablets to the UK market, having received approval four months ago.
This followed the launch of the generic drug in Australia in October last year, "highlighting the company's growing global presence," said the company in a stock exchange filing on Thursday.
Cabergoline, a dopamine agonist, is primarily used in treating conditions, such as hyperprolactinemia when high levels of hormone prolactin, which causes lactation, is present in blood, and Parkinson's disease.
This medicine is available in the local market of Bangladesh under the brand name Cabolin.
In September last year, Renata secured approval from the EU Decentralised Procedure (DCP) to export Cabergoline 0.5mg tablets to Europe.
The EU DCP, a regulatory body operating within the European Union (EU), facilitates the authorisation of certain human and veterinary medicinal products.
"This significant milestone reflects Renata's commitment to expanding its product offerings in the European market with strong competency in developing and delivering low dosage, high potency complex products," said the company.
Cabergoline is manufactured at Renata's "state-of-the-art UK-MHRA-approved potent drug facility", which adheres to stringent quality control standards and is fully equipped to meet the requirements of the European market, said the company.
Following the announcement, Renata's stock jumped 4 per cent to close at Tk 521.6 per share on Thursday.
Renata, one of the fastest growing drug makers in Bangladesh, has been heavily focused on research and development (R&D) of complex generics for several years.
The company manufactures and markets medicines, nutritional products, and vaccines for humans along with veterinary medications.
Renata is also the contract manufacturer for UNICEF and SMC for general products, such as birth control pills, oral saline, and micronutrient powders.
In April last year, the drug manufacturer started exporting medicines to the US market directly from its US-FDA-approved facility in Rajendrapur, becoming the sixth pharmaceutical manufacturer in Bangladesh to directly ship products to the world's largest market.
Financial Performance
Despite higher revenue, Renata's profit plunged 39 per cent year-on-year in the first half of FY25 to Tk 1.13 billion mainly due to higher finance costs driven by increased loans and borrowings.
Against the backdrop of high interest rates, the drug manufacturer's finance costs shot up in the recent quarters, leading to erosion of its bottom-line growth.
Renata's short-term and long-term borrowings rose to Tk 11.79 billion in the six months through December last year, from Tk 10.83 billion in June 2024.
Meanwhile, Renata is in the process of raising Tk 3.25 billion by issuing preference shares to alleviate its finance cost burden by paying off short-term bank loans.
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