Pakistani Pharmaceutical Company to Operate in France
Shares
ISLAMABAD: (APP) A Pakistani Pharmaceutical company, Martin Dow has acquired a pharmaceutical manufacturing facility in Meymac, France.
The facility was earlier owned by the Renowned pharmaceutical firm Bristol-Myers Squibb.
President Francois Hollande of France, who is the President of the local Council invited the Chairman of Martin Dow, Jawed Akhai, for a meeting that took place on 12 August 2016 in Meymac to express his appreciation of Martin Dow's interest in the Meymac site.
The President was informed that Martin Dow will be ready to begin operations in early September, said a press release here on Wednesday.
The President who expressed his full support for Martin Dow's future plans is likely to inaugurate the factory by autumn this year.
This is the first acquisition by a Pakistani pharmaceutical company of a medicine manufacturing facility in France and one of the few instances where a Pakistani company has made a significant investment in an EU member country.
This acquisition reflects the growing economic potential of Pakistani economy and of growing economic ties between France and Pakistan.
Martin Dow was established in 1995 initially as a pharmaceutical marketing company in Karachi (Pakistan), which later acquired a manufacturing facility in Lahore (Pakistan) during the year 2000 and another facility earlier owned by Roche International in Karachi in 2010.
Martin Dow is one of the leading pharmaceutical companies in Pakistan and has been recognized as a Global Growth Company by the World Economic Forum, joining over 370 companies globally in this community.
At that time Martin Dow was not only the first pharmaceutical company but it was also the first from the entire healthcare sector of Pakistan to achieve this honor. Only 7 other Pakistani companies from all sectors in the country have made it to the coveted list of 370.
