The Acme Laboratories has undertaken a series of medicinal projects including Oncology, Steroid and Ayurvedic to meet the growing demand of the drugs in the country.
“To widen our production capacity we have taken three projects titled “Oncology, Steriod and Hormone and Ayurvedic, Modern Herbal and Nutraceuticals,” said Mizanur Rahman Sinha, Managing Director of the The ACME Laboratories Limited at a press conference in his factory office yesterday.
The market size of the products under the projects are large and it witnesses a sound growth every day, Rahman said, describing the medicine industry as the next driving force for the country’s economy.
He came up with the announcement at the media briefing.
The managing director also talked about offloading shares of the company to the institutional and individual investors through stock exchanges.
The Acme Laboratories, the country’s oldest pharmaceutical, will float 5 core ordinary shares of Tk10 each using book-building method.
Currently, the company produces 70 products and exports to 20 countries. It earned Tk1,021 crore in the last fiscal and witnessed a 15% growth.
ACME would be the third company to use the book-building system after the stock market regulator modified the pricing rules following the market crash in 2011.
According to the financial statement as of June 30, 2014, the earning per share (EPS) of the company is Tk5.65 and the net assets value per share is Tk66.16.
The authorised capital of the company is Tk500 crore, while the paid up capital is Tk161 crore.
Md Zahangir Alam, Chief Financial Officer (CFO) the company said: “We will be able to continue production within two years after the IPO proceeding.”
The pharmaceutical sector is the second largest industry in the country.
As one of the fastest growing sectors in the country, its average growth stood at 17.2 percent over the last five years while 13.1 percent over the last decade.
The current market size of pharmaceutical sector is about Tk12,000 crore, which would likely exceed Tk15,000 crore by 2015.
The market growth in 2011 was 25 percent, with approximately Tk9,000 crore in revenues, it said.
The company expects the pharma market size to exceed Tk15,000 crore by 2015.