Published:  12:00 AM, 10 January 2017

Square Pharma to set up subsidiary company in Kenya

Square Pharmaceuticals Ltd, one of the leading pharmaceutical companies of Bangladesh, will establish a subsidiary company in Nairobi of Kenya by 2019. The company has informed the matter in the news posted on Dhaka Stock Exchange website on Monday. As per DSE website, the Board of Directors of Square Pharma has decided to establish a pharmaceuticals manufacturing subsidiary company in Nairobi, Kenya. The Initial estimated total project cost will be US$ 20.00 million, it added. US$ 8.00 million of it will be financed by equity investment by the company for which Bangladesh Bank has given permission and the balance would be invested from loans. It is expected that the project would be completed by June 2019.

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