Indo-Bangla Pharmaceuticals’ production, marketing banned
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
TUESDAY, MAY 17, 2022
TUESDAY, MAY 17, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Indo-Bangla Pharmaceuticals’ production, marketing banned

Pharma

TBS Report
23 March, 2021, 10:25 pm
Last modified: 23 March, 2021, 11:43 pm

Related News

  • Taliban bans drug cultivation, including lucrative opium
  • Brazil's Supreme Court suspends Telegram, a key Bolsonaro platform
  • Indo-Bangla Pharma sponsor to dump entire stake finding no seat on board
  • Indo-Bangla pharma, Paramount Textile to purchase land for expansion
  • UK travellers banned from entering Germany

Indo-Bangla Pharmaceuticals’ production, marketing banned

On Tuesday, the company disclosed the information on the DSE and CSE websites

TBS Report
23 March, 2021, 10:25 pm
Last modified: 23 March, 2021, 11:43 pm

The drug regulatory authority has temporarily banned the production and marketing of the publicly listed company Indo-Bangla Pharmaceuticals Limited.

On Tuesday, the company disclosed the information on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) websites.

Company Secretary Mohi Uddin told The Business Standard, "Due to personal problems of the company authorities, the drug administration has imposed a temporary ban on our production and marketing."

"We hope the problems will be resolved within a short time," he added.

As per information of the company, Indo-Bangla on 7 March received a letter from the Directorate General of Drug Administration (DGDA), banning the production and marketing of the company for a temporary period.

The company has instantly filed a writ petition against the order.

Acting upon the petition, the High Court on 14 March 2021 issued a rule asking the DGDA to explain why the ban on production and market should not be declared illegal.

The court fixed 6 April for the next hearing.

Previously, the name of the company was Indo-Pak Pharmaceutical Works (IPW) but after independence, the government took control of the company which was inaugurated in 1954.

It was registered in Bangladesh under the privatisation act in the name of Indo-Bangla Pharmaceutical Works.

In 1982, the government sold the company which got listed on the stock exchanges in 2018.

The company is engaged in manufacturing and selling all kinds of medicines (excluding antibiotics), and medical preparation of drugs and chemicals (human health).

The company has applied for permission for the production and selling of veterinary medicine also.

In the last fiscal year, Indo-Bangla reported a profit of Tk15.62 crore, and the earnings per share (EPS) stood at Tk1.40.

The board of the company has recommended a 4.50% cash and 2% stock dividend for the shareholders.

In fiscal 2018-2019, the company posted a profit of Tk15.52 crore and EPS was Tk1.39. It paid an 11% – 2% cash and 9% stock – dividend.

In FY20, the revenue of the company was Tk86.60 crore, which is 16.935% higher than the previous fiscal year when the revenue was Tk74.07 crore.

Corporates / Top News

Indo-Bangla Pharmaceuticals Limited / Banned / Production Banned / Marketing Banned

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: PID
    Prioritise dev projects, spend wisely: PM Hasina 
  • Workers carry sacks of wheat for sifting at a grain mill on the outskirts of Ahmedabad, India, May 16, 2022. REUTERS/Amit Dave
    India to allow wheat shipments awaiting customs clearance
  • Govt fixes tolls for Padma Bridge
    Govt fixes tolls for Padma Bridge

MOST VIEWED

  • Photo: Courtesy
    Four directors to buy 9 lakh Square Pharma shares
  • Sanofi Bangladesh renamed Synovia Pharma
    Sanofi Bangladesh renamed Synovia Pharma
  • Pharma on a Tk1 trillion journey
    Pharma on a Tk1 trillion journey
  • Beximco Pharmaceuticals Acquires Sanofi Bangladesh
    Beximco Pharma inks Sanofi acquisition deal
  • TBS Today: Pharmaceutical industry eyes on localisation of raw materials
    TBS Today: Pharmaceutical industry eyes on localisation of raw materials
  • Two Covid-19 drugs boost Beacon Pharma’s turnover, profits
    Two Covid-19 drugs boost Beacon Pharma’s turnover, profits

Related News

  • Taliban bans drug cultivation, including lucrative opium
  • Brazil's Supreme Court suspends Telegram, a key Bolsonaro platform
  • Indo-Bangla Pharma sponsor to dump entire stake finding no seat on board
  • Indo-Bangla pharma, Paramount Textile to purchase land for expansion
  • UK travellers banned from entering Germany

Features

Despite Bangladesh having about 24,000 km of waterways, only a few hundred kilometres are covered by commercial launch services. Photo: Saad Abdullah

Utilising waterways: When common home-goers show the way

3h | Panorama
Illustration: TBS

How Putin revived Nato

5h | Panorama
The reception is a volumetric box-shaped room that has two glass walls on both the front and back ends and the other two walls are adorned with interior plants, wood and aluminium screens. Photo: Noor-A-Alam

The United House: Living and working inside nature

5h | Habitat
Pcycle team members at a waste management orientation event. Photo: Courtesy

Pcycle: Turning waste from bins into beautiful crafts

6h | Panorama

More Videos from TBS

Can your coworker be your closest friend?

Can your coworker be your closest friend?

6h | Videos
The mystery behind Pyramid

The mystery behind Pyramid

7h | Videos
Finland, Sweden decide to join NATO

Finland, Sweden decide to join NATO

18h | Videos
Where you can swim for Tk5

Where you can swim for Tk5

20h | Videos

Most Read

1
Representative Photo: Pixabay.
Bangladesh

Microplastics found in 5 local sugar brands

2
Mushfiq Mobarak. Photo: Noor-A-Alam
Panorama

Meet the Yale professor who anchors his research in Bangladesh and scales up interventions globally

3
Impact of falling taka against US dollar
Banking

Taka losing more value as global currency market volatility persists

4
Govt tightens belt to relieve reserve
Economy

Govt tightens belt to relieve reserve

5
Union Capital asked to return Tk100cr FDR to BATBC 
Banking

Union Capital asked to return Tk100cr FDR to BATBC 

6
How Bangladesh can achieve edible oil self-sufficiency with local alternatives
Bazaar

How Bangladesh can achieve edible oil self-sufficiency with local alternatives

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab