Business Desk :
Square Pharmaceuticals Limited has decided to invest $1 million in the Philippines for opening a company named Samson Pharma Inc.
Samson Pharma will be incorporated in the Philippines. The total investment plan is $2.5 million in Samson, which will be engaged in the marketing and distribution of pharmaceutical products, the leading drug maker of the country said in a statement.
Of the total $2.5 million, the company will initially invest $1 million in Samson Pharma, it said.
Square Pharma expects that Samson will start business in April 2024.
“We are opening a company in the Philippines to sell our medicines directly to that country.
Samson Pharma will facilitate us to register our medicine in the Philippines,” Muhammad Zahangir Alam, chief financial officer of Square Pharma, told on Monday.
