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Denmark’s IFU to Invest $12.5M in AKS Pharmaceuticals
Denmark's Investment Fund for Developing Countries (IFU) is set to invest $12.5 million in AKS Khan Pharmaceuticals, a key player in Bangladesh's healthcare sector, to fuel the expansion of its pharmacy network. The aim is to reach 8 million patients annually within three years, significantly increasing access to healthcare across the nation.
The investment, facilitated through IFU, a development finance arm of the Danish government, was formalized at a signing ceremony at the Radisson Blu Water Garden Hotel in Dhaka on Wednesday night. AK Shamsuddin Khan, director of AK Khan & Company Limited, and Lars Bo Bertram, CEO of IFU, were present to sign the agreement.
Christian Brix Møller, Denmark’s Ambassador to Bangladesh, highlighted the importance of this investment during a transitional period for the country, emphasizing that it reflects strong confidence in Bangladesh’s progress and the efforts of the interim government.
Samanzar S Khan, Managing Director of AKS Khan Holdings, shared that the company plans to establish 100 pharmacies and diagnostic centers, marking a bold step in its mission to reach a broader patient base. "We aim to expand our reach to 8 million people annually, a substantial increase from the 1.5 million lives we touch today," she said.
Since its inception in 1990, IFU has invested over €300 million in various projects, including a fertiliser company and a water treatment plant in Dhaka. Lars Bo Bertram, CEO of IFU, explained that the institution focuses on impact investments, supporting initiatives that foster both economic and social development, while also ensuring financial returns.
"Access to authentic, quality medicine is critical in treating chronic diseases and improving the quality of life for millions of people in Bangladesh," said AK Shamsuddin Khan, emphasizing the vital role of the expanded network in tackling public health challenges.
Through this partnership, both IFU and AKS Khan Pharmaceuticals are poised to make a significant difference in the country's healthcare landscape, offering greater access to essential services for millions in need.