Martin Dow
Pakistani pharmaceutical company founded 1995
From Wikipedia, the free encyclopedia
Martin Dow is a Pakistani multinational pharmaceutical company which is based in Karachi. It was founded in 1995[3][4] and has six manufacturing facilities in Pakistan[5] and one in France.[6]
| |
| Company type | Private |
|---|---|
| Industry | Pharmaceutical |
| Founded | 1995 |
| Founder | Muhammad Jawed Akhai |
| Headquarters | Karachi, Pakistan |
Area served | Asia, Middle East, Europe, Africa |
| Products | ADVIT-D, BUSCOPAN PLUS, CONCOR, GLUCOPHAGE, INFEXIN CAPS, KLARIBACT, MERCIP, NEUROBION, POLYBION, ROZANTO, SANGOBION, TIXOMER, VONOSPIRE, WINTOGENO |
| Revenue |  Rs. 3630 crore (US$130 million) (2023)[1] |
Number of employees | 1,000+ [2] |
| Subsidiaries | Martin Dow Limited Martin Dow Marker Ltd. Martin Dow Specialities (Pvt.) Ltd. Martin Dow Pharmaceuticals (France) |
| Website | martindow |
History
Martin Dow was founded in 1995 and began operations in 2000 with a small manufacturing facility in Lahore.[7]
In 2010, Martin Dow acquired the manufacturing facility and brands of Roche Pakistan.[8]
In 2015, Martin Dow was recognized as a Global Growth Company by the World Economic Forum.[9] In the same year, Martin Dow entered into an alliance with Biocodex S.A., a France-based pharmaceutical company.[10]
In 2016, German Merck KGaA executed a binding contract to divest its shareholding in Pakistan to Martin Dow Ltd.[11][12][13]
In 2016, in a €1.5 million deal, Martin Dow acquired the Laboratoires Salem (before 2010 Bristol-Myers Squibb) pharmaceutical manufacturing facility in Meymac, France.[14][15] In March 2017, the French President Francois Hollande inaugurated Martin Dow Pharma's Meymac Plant in France.[16][17] The plant of V2Pharm in Gien, France was also taken over by Martin Dow.[18]
In 2020, Martin Dow was awarded for excellent performance in fire safety and protection by the Sindh local government minister.[19]
Controversy
In 2016, the National Accountability Bureau (NAB) arrested two directors of Martin Dow because it wrongfully derived financial benefits on the basis of illegal price increase.[20][21][22]