Renata expands global footprint with first export to Canada

Renata PLC, one of Bangladesh's leading pharmaceutical companies, has taken another significant step in its international journey by entering the Canadian market for the first time. 

The company announced today that it has launched its first product in Canada under the brand name Desolon, in collaboration with Ambicare Pharmaceuticals Inc, a top drug maker in the North American country. 

The product was commercialised following Health Canada's regulatory approval, which Renata secured in 2023, marking a major breakthrough in the company's export expansion strategy.

The announcement came through a price-sensitive disclosure filed with the Dhaka Stock Exchange (DSE), though the news did little to lift investor sentiment as Renata's share price edged down 0.68% to close at Tk496 on the day.

Entering the stringently regulated Canadian market through this partnership marks a historic milestone for Renata, the company said in a press release. Building on its proven expertise in navigating other stringent regulatory markets, the company aims to replicate its past successes by expanding its product portfolio in this new territory.

With the Canadian entry, Renata has now extended its presence to 57 countries, strengthening its position as one of Bangladesh's most internationally diversified drug makers. 

The company already holds approvals from some of the world's most stringent regulatory authorities, including the UK's Medicines and Healthcare products Regulatory Agency (UK-MHRA), the US Food and Drug Administration (US-FDA), Australia's Therapeutic Goods Administration (TGA), Brazil's ANVISA, and the World Health Organization's Prequalification Programme (WHO-PQ). 

In addition to these, it operates two international subsidiaries – Renata (UK) Limited and Renata Pharmaceuticals (Ireland) Limited – focused on serving key Western markets.

Since 2020, the company has achieved several milestones, successfully penetrating the US, UK, Australia, and EU markets.

Earlier, in July 2025, Renata earned the prestigious European Union Good Manufacturing Practice (EU GMP) certification for its Rajendrapur General Facility. This state-of-the-art plant is equipped with modern production lines to manufacture oral solid dosage products, including capsules, tablets, and soft gel capsules. 

The certification was described as a "key milestone" in Renata's global expansion strategy, reinforcing its ability to comply with the highest international manufacturing standards, said the company in a press release.

Renata said the Rajendrapur facility exemplifies its focus on technical sophistication and operational excellence, allowing it to serve both domestic and international markets effectively. "With this latest certification, Renata continues to demonstrate its commitment to global quality standards," the company said in a statement, adding that its diverse manufacturing capabilities position it well for sustained growth abroad.

Exports have already been playing an increasingly important role in Renata's financial performance. In the first nine months of the current fiscal year (July–March FY25), the company earned Tk199 crore in export revenue, representing a 22.5% increase compared to the same period last year. 

In FY24, exports rose by 4% year-on-year to Tk191 crore. The strong momentum reflects Renata's growing acceptance in global markets and the widening demand for its products.

Despite the export gains and a solid overall revenue performance, profitability has come under pressure. Renata reported a 13.2% year-on-year revenue growth in the first nine months of FY25, driven primarily by higher sales volumes in its pharmaceuticals segment, which grew by 15.5%. However, revenue from animal health products dropped by 19.6%, while contract manufacturing declined by 31.9%.

Net profit for the period fell sharply by 30.5% to Tk183.9 crore, down from Tk263.2 crore in the same period a year earlier. 

The decline was attributed largely to a surge in financing costs, which jumped 56% to Tk124.82 crore. The company explained in its financial commentary that profit was squeezed by both higher interest rates and additional debt taken on to support its ongoing expansion projects.

Renata has been investing heavily to expand its production capacity and strengthen its infrastructure. During the current fiscal year, the company has spent around Tk300 crore on capital expenditure projects, including the Kashor FG & RM Robotic Warehouse, the Hobirbari Potent Product Facility, the Rajendrapur R&D Lab, and the extension of its Oncology Solid Facility. 

Management expects these projects to be completed later this year, providing a substantial boost to capacity and supporting future sales growth.

Jubayer Alam, company secretary of Renata, told TBS, "Renata is exporting products to new countries with the aim of expanding its position in the global market. This will also increase the presence of Bangladeshi medicines in international markets."

Regarding exports to the Canadian market, he said, "Canada's market is quite large. We are just beginning, but there are opportunities for further expansion in the future. For exporting to Canada, we have signed an agreement with Ambicare Pharmaceuticals Inc, and shipments have already been sent."

Ambicare Pharmaceuticals Inc is a major distributor of generic medicines. Jubayer Alam believes that with their partnership, exports to Canada will grow further in the coming days.