Acme set to enter US market
Acme Laboratories is going to set foot in American market with its generic drug, Zolpidem, through contract manufacturing with a US company.
"This is the first time we will launch our product in the America market," said a senior official of the pharmaceuticals company.
In its disclosure to the Dhaka STOCK MARKET (DSE) yesterday, Acme said exploring the united states market may be the company's most ambitious project, with that they intend to generate yearly earnings of around $50,000.
Zolpidem is a sleeping pill used to treat insomnia, for which a lot more than 10 million prescriptions are filled in America every year with treatments commonly involving similar medication.
However, Acme's share prices dropped by 1.13 percent going to Tk 69.9 yesterday.
The business declared 25 % cash dividend for the fiscal year ending in June 2020, down from 35 % for the prior four years.
Meanwhile, its earnings per share rose to Tk 6.85 in fiscal 2019-20 from Tk 6.81 the year prior, based on the company's posting.
Acme, listed with the DSE back in 2016, reported Tk 1,630 crore in earnings for fiscal 2018-19 when domestic sales accounted for 96 % of the full total value.
Through the same year, the business's exports grew 26.70 % to Tk 65.16 crore from Tk 51.4 crore in fiscal 2017-18, according to its gross annual report.
Acme's started its international business back in 1995 by exporting various medicine to Bhutan. Now, the business exports drugs to a lot more than 20 countries in South Asia, South East Asia, Africa and Central America, according to its website.
Acme currently produces over 500 products in different dosage forms covering broader therapeutic categories, it added.
