Aster Pharmacy forays into Bangladesh in partnership with GD Assist to set up 25 pharma stores

Aster DM Healthcare has entered into a long-term franchise agreement with GD Assist Limited to operate the pharmacies in Bangladesh.

September 21, 2022 2:12 IST | India Infoline News Service
Aster DM Healthcare has announced its entry into the Bangladesh market with Aster Pharmacy division on Wednesday.

Aster Pharmacy, the leading pharmacy chain in the UAE, will be operated by GD Assist Limited in Bangladesh. Through this franchise agreement, Aster DM Healthcare and GD Assist Limited plans to be provide genuine and reliable pharmaceutical products in Bangladesh along with varied products in the segments of Nutrition, Baby care, Skin Care, Home Healthcare etc.

Through this franchise agreement Aster DM Healthcare and GD Assist Limited aims to bring Aster Pharmacy’s quality care products in the segments of Nutrition, Pharmaceuticals, Baby care, Skin Care, Home Healthcare etc. to serve the healthcare needs of the local population of Bangladesh.

The Pharma industry currently operates 446 pharmacies in India, GCC and Jordan, including 201 Pharmacies in India operated by Alfaone Retail Pharmacies Private Limited under brand license agreement. 

Commenting on the venture, Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said, “Since its inception over two decades ago, Aster Pharmacy has been a one stop solution for medicines and wellness products.

We have invested in our care offering and revamped the infrastructure and talent to ensure the best service experience to our customers and continued this endeavor during the pandemic to ensure patient safety and well-being. And now, we are looking to venture into a new market to serve more people and expand our footprint.”

Syed Moinuddin Ahmed, Managing Director of GD Assist, stated, “GD Assist was established with the aspiration to become a prominent one-stop healthcare solution provider. As such, it is our great delight to partake in this new venture with Aster Pharmacy! This partnership is enabling us to step into the new era by introducing world class healthcare products of different segments, which would subsequently provide us the opportunity to cater to the healthcare needs of the people of Bangladesh, on par with international standards.”

“With its vast experience over the years and leadership positioning in a number of markets that we operate in, Aster Pharmacy is fast emerging as a global pioneer in Health and Wellness and Integrated Pharmacy Concept. We are delighted to collaborate with GD Assist to launch Aster Pharmacy stores in Bangladesh which would provide the customers a very unique and superior wellness experience,” added N S Balasubramanian, CEO of Aster Retail GCC.

At around 2:11 PM, Aster DM Healthcare Ltd is currently trading at Rs253.25 per share up by Rs1.2 or 0.48% from its previous closing of Rs252.05 per share on the BSE.

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