Photo: Collected
BRAC Bank is providing a financing facility to SKF Pharmaceuticals Limited to increase the supply of the life-saving drug insulin in the domestic and international markets. Through this, the company will increase its insulin production capacity.
The information was given in a press release from BRAC Bank this Saturday.
The release said SKF Pharmaceuticals, one of the country’s leading drug manufacturers, has long been producing insulin in partnership with Novo Nordisk, a Denmark-based multinational pharmaceutical company that is one of the world’s top insulin manufacturers. Under this partnership the company is making insulin in both vial and Penfill formats, which is helping to ensure diabetes patients’ access to quality insulin.
As part of business expansion, SKF is currently setting up a third insulin vial production line. This will significantly increase the company’s production capacity, which will help meet the growing demand at home and abroad. This financing facility given to the company is a reflection of BRAC Bank’s declared commitment to strategic investment in the country’s pharmaceutical and healthcare products manufacturing sector.
As a result, besides an increase in the supply of life-saving insulin, the country’s production capacity will become stronger. This initiative will also play a role in increasing local production, reducing import dependence and further consolidating Bangladesh’s position as a hub of drug production and export.
On this financing, BRAC Bank’s Managing Director and CEO Tareq Refat Ullah Khan said, ‘Increasing insulin production in Bangladesh means building our own capacity in the case of medicines people need every day. By financing SKF’s production expansion, we are making the country’s health sector more enriched and self-reliant, and likewise helping to take forward one of Bangladesh’s most important manufacturing industries.’
