Japanese NIPRO Corporation forays into Bangladesh Drug Market

Md. Abdur Razzaq, Managing director of JMI Group, and Kazuo Wakatsuki, Managing director of NIPRO Corporation, seen at Meet the Press to launch the NIPRO JMI Company Limited at a city hotel Tuesday, 13 March 2012.

World renowned medical, pharmaceuticals and life-saving healthcare company NIPRO Corporation Japan embarks upon its business in Bangladesh with a vision to manufacture high- tech appliances for health sector and help produce quality drugs in an increasingly dynamic pharmaceutical market.

The new companys officials Tuesday at a press conference held at a city hotel spoke to the media about their new business venture in health sector which is first of its kind in the investment history of Japan in Bangladesh.

Japanese NIPRO Corporation and Bangladeshi JMI Group will merge in a 51:49 per cent share company taking the name NIPRO JMI Pharma with the Japanese counterpart investing US$ 23 million (Tk 1.7 billion) in three projects--- NIPRO JMI Company Ltd, Hemo Dialysis Centres and NIPRO JMI Pharma.

NIPRO Corporation has invested US$ 12 million to form NIPRO JMI Company Ltd for production of Blood Tubing Set, a very important dialysis product, by July 2012 for Global Marketing.

NIPRO invested US$ 1.0 million to open Hemo Dialysis Centre at Panthapath in the city by July this year.

NIPRO invested US$ 10.5 million to merge with JMI Pharma to form new company NIPRO JMI Pharma Ltd for production of hormonal, injectable and ophthalmic products facilitating sales around the world through NIPRO s International Marketing Channel.

"This will herald a new era for Bangladesh in the global context marketing of pharmaceutical products," said Managing Director of NIPRO Corporation Kazuo Wakatsuki, adding, 74 sales companies around the world will be helpful for global marketing of the products produced here.

He said his organization has an investment policy in developing countries for desired economic progress through proper utilization of capital.

Answering the question why Japan chose Bangladesh for investment in pharmaceutical sector, Mr Wakatsuki referred Bangladesh Pharmaceutical market as huge which is growing 15 to 20 percent every year.

JMI Group is the distributor of NIPRO Corporation in Bangladesh which has 23 production units around the world. On the other hand JMI Pharma started its production last year.

Managing Director and founder of JMI Group Abdur Razzaq said the new project will create employment opportunity for 2000 people by the end of 2014. At present JMI Pharma employs about 600 people which will add another 600 by the end of this year as soon as the new project starts rolling, said company officials.

Razzaq said people around the world now know that pharmaceutical industry is going to be the second export -oriented sector after garments. Japan has the best technology in every sector which will also facilitate production as well as quality control and export.

Health minister AFM Ruhal Haque will formally inaugurate the new joint venture company in a ceremony at the same hotel in the evening.