FE Report

RAK Pharmaceuticals Private Limited- the drug-manufacturing arm of the global conglomerate RAK Group has tapped into the country's booming pharmaceuticals market with the launching of its 13 brand new medicine products Friday.

The UAE-based corporate giant with a substantial presence in the local market for ceramic products, now emerges as the latest player to watch for in the country's highly competitive pharmaceuticals sector.

The company formally unveiled its whole new range of medicine products through an official launching ceremony at a city hotel this weekend. Minister for Health and Family Planning A F M Ruhul Haque attended the occasion as the chief guest.

Unveiling the product; the health minister in his speech said that the present government is committed from the very beginning for the export facilitation of the local pharmaceuticals industry realizing the high growth potential of the sector.

He also asked the RAK Pharmaceuticals authority to explore international market for their products to turn it into an export-oriented venture.

Chairman of RAK Pharmaceuticals Private Limited Khatar Massad said that the company would extensively capitalize on its experience in pharmaceuticals sector in other countries to make a mark into the Bangladeshi market.

"In the near future, RAK would like to expand its operation into other growing segments in this country including real estate," he added.

Chief Executive Officer of RAK Pharmaceuticals Private Limited (Bangladesh) A H M Zaker said the newborn company would soon launch 13 more medicine products to cater the local market.

"From our state-of-the-art manufacturing facility set up on 5.3 acre area at Sreepur of Gazipur and built at an expense of Tk. 800 million, we would go all-out to maintain the best quality in our manufactured product," he added.

Adviser to the Bangladesh Association of Pharmaceuticals Industries Mizanur Rahman Sinha also spoke on the occasion.

Established in the 1980s in Ras Al Khaimah- one of the seven emirates of the UAE, the RAK Group is now one of the largest producers of ceramic products while its other concerns include pharmaceuticals, painting and porcelain.