Wednesday, 27 October, 2021

Bangladeshi firm Albion starts exporting medicines

  • Nur Uddin Alamgir
  • 11 August, 2021 12:00 AM
  • Print news
Bangladeshi firm Albion starts exporting medicines

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CHATTOGRAM: Chattogram-based Albion Laboratories Limited is set to start exporting medicines for the first time.

A consignment of medicines worth $66,690 of the company, a sister concern of Albion Group, is awaiting shipment from Chattogram port to Kabul, Afghanistan next month.

The company officials said they received confirmation for the export on May 29 this year and 20 per cent of money against the export reached the country on June 9, as per the agreement.

Albion obtained the Good Manufacturing Practice (GMP) certificate on January 13.

It also received confirmation for exporting medicines to Yemen. Invoice for exporting 10 types of medicine worth $53,650 to Yemen has already been issued.

The company management is preparing for the shipment from Chattogram port to the Aden sea port in Yemen in the first week of October.

Besides, it also reached the final stage of negotiations to export medicines to Cambodia and Myanmar.

Agreements have also been inked for exporting drugs to Cambodia and Sri Lanka. Albion also sent final documents to Myanmar and Bhutanese health ministries for approval last month.

The drugs to be exported by Albion will have brand name along with generic names, said the officials.

Albion produces 450 types of complex and international standard medicines including tablets, capsules and injections.

The company is also continuing its efforts to enter the drug markets in Vietnam, the Philippines, Sudan, Ghana, Somalia, Cameron and Nigeria in phases.

Albion also has plans to expand its drug market in the West, said the company officials.

 “It is a great pleasure for us to be able to start the journey as the first Chittagong-based drug exporter,” Albion Group Chairman Raisul Uddin Saikat said.

 “We will uphold the image of the country in the export market through increasing investment and using our talents, labour and experience,” he added.

He also observed that medicine prices will decrease if all the raw materials are produced in the country.

The development of Active Pharmaceutical Ingredient (API) Park at Munshiganj will also be a milestone for the country’s drug industry, said Saikat.

Albion Laboratories Ltd started its journey in a rented house in the city’s Chandgaon Residential Area in 1991 with a workforce of only 100 employees.

Md Nezam Uddin, the father of Saikat, started the initiative as managing director of the company then. His sons got involved with the business in 2006.

Saikat studied computer sciences in Australia. After completing his studies, he returned to the country and joined Albion Laboratories.

He also started changing the business style gradually and developed the company as an export-oriented one.

Nezam's second son Muntahar Uddin Sakib joined the company in 2012 after completing his studies as a chartered accountant in Malaysia.

He is currently serving as the managing director. Nezam’s youngest daughter Tasnuva Afrin herself is a pharmacist and now serving as a director of the company.

Their cousin brother Muntasir Jashim, who studied BBA in Australia, is also now working as executive director of the company. Albion started production in its own factory at Barabkunda at Sitakunda upazila in the district after the expansion of the business area in 2007.

The pharmaceutical company is now carrying out production on a 1.40 lakh square-feet area to meet the demands of the clients in home and abroad.

The expanded company is going to be renamed as ‘Albion Specialized Pharma Limited’ with a workforce of 3,000 people soon. Other sister concerns of the company include Albion Animal Health Limited, Albion Consumer Products Limited, Albion Trading Corporation, Cleanzy Formulations Limited, Segafredo Zanetti Espresso, Favourita Limited, Favourita Limited and Favourita Plastica Limited.