Renata Secures EU GMP Certification, Aims for Growth in International Marketplaces
**Renata PLC Achieves EU GMP Certification, Boosting Global Footprint**
In a significant development, Renata PLC, a leading pharmaceutical company in Bangladesh, has received the EU Good Manufacturing Practice (GMP) certification for its Rajendrapur General Facility. This certification is a key milestone in Renata's journey to strengthen its global footprint.
The certification, which was earned following a comprehensive audit by European authorities, confirms that Renata's manufacturing facility meets the stringent quality, safety, and compliance standards of the EU. This compliance is mandatory for any pharmaceutical manufacturer aiming to supply medicines to the EU market, regardless of their location.
Renata's Rajendrapur General Facility is equipped with state-of-the-art production lines capable of manufacturing pharmaceutical products of oral solid dosage form, such as capsules, tablets, and soft gel capsules. The company manufactures a wide range of pharmaceutical products, including antibiotics, anti-inflammatories, analgesics, vitamins, neurological products, anti-diabetics, anti-cancer products, and more.
Jubayer Alam, company secretary of Renata PLC, stated that the certification is crucial for strengthening Renata's global footprint. He emphasised that the certification opens up new opportunities for Renata to export its products directly to European countries, expanding its global footprint.
The EU GMP certification presents several specific benefits and opportunities for Renata PLC. Compliance with EU standards not only ensures the quality and safety of its products but also opens the door to new markets. It enhances Renata's reputation as a leader in pharmaceutical manufacturing excellence, both locally and internationally.
With the certification, Renata can now easily export a variety of pharmaceutical products, including capsules and tablets, to European markets, potentially increasing its revenue. The ability to export to the EU will likely boost Renata's exports and create new revenue streams, contributing to its overall growth and profitability.
Moreover, the EU GMP certification is also recognised by several Latin American countries, providing Renata with opportunities to expand its exports beyond the EU to other regions.
The pharmaceutical business alone registered a 12.2% year-on-year growth in FY24, contributing to an overall growth of 16.6% for the company. Renata is currently exporting to 50 countries worldwide, and the EU GMP certification opens a new door to the global market, particularly for exporting medicines to European countries.
In FY2023-24, Renata exported medicines worth Tk191 crore, up from Tk183.28 crore in the previous fiscal year. The company is a market leader in Animal Health Products, and the 9.1% growth in the Animal Health division in FY24 further underscores its success.
Good manufacturing practice (GMP) refers to the minimum standards that manufacturers must adhere to in their production processes to ensure the quality and safety of medicines. The European Union good manufacturing practice (EU GMP) certification is a testament to Renata's commitment to these standards.
In conclusion, the EU GMP certification marks a significant step forward for Renata PLC in its mission to strengthen its global footprint and provide high-quality, safe, and effective pharmaceutical products to both domestic and international markets.
Technology played a crucial role in Renata PLC's EU GMP certification, as the company's Rajendrapur General Facility is equipped with state-of-the-art production lines incorporating advanced technology capable of manufacturing pharmaceutical products of oral solid dosage form.
The EU GMP certification opens up new opportunities for Renata to leverage technology in exporting its pharmaceutical products directly to European countries, potentially increasing its revenue and contributing to its overall growth and profitability.
