29. September 2010 3 29 /09 /September /2010 22:46
Pharma sales upbeat
Local pharmaceutical sales have grown to 21 percent in the April-June period, a rise from 19 percent in the first three months of this year, according to a report of a global pharmaceutical market intelligence agency. Intercontinental Marketing Services (IMS) published the quarterly report in August. Developed manufacturing process, newer investments in the sector and improved marketing strategy boosted the sales growth, said industry insiders.
Opsonin Pharma Ltd performed the best with a 51 percent growth, followed by Eskayef Bangladesh Ltd with 42 percent and Drug International Ltd with 39percent in the period, the IMS report said. Among the top ten performers ranked by IMS, others are Beximco Pharmaceuticals Ltd, Incepta pharmaceuticals Ltd, Reneta Ltd, Advanced Chemical Industries (ACI) Ltd, Square Pharmaceuticals Ltd, Aristopharma Ltd and ACME Laboratories Ltd. IMS report indicates the local retail sales of pharmaceutical products of different countries for a particular period, excluding the government purchase and exports.
AM Faruque, managing director of Eskayef Bangladesh, said enhanced quality of their products helped increase prescription coverage during this period. “The first and foremost concern of a consumer is the quality of a product. So when a drug company produces high quality products, doctors confidently prescribe the medicines of that company, eventually helping increase its sales,” he said. “People usually visit the doctors more when they are financially better off. This year the bumper production of Boro crop helped more people go to doctors. It's also an important reason for sales growth,” Faruque added.
“We are constantly trying to improve the quality of our products,” he said, adding that the marketing strategy of the company also added to the growing sales in both the local and international markets. Syed Golam Rahman, general manager of Opsonin Pharma, also echoed Faruque's view, saying the increased prescription coverage and improved marketing strategy have fueled their growth in sales. “Simultaneously, we have launched some new products in the local market that also helped us gain more revenue,” he said.
Opsonin recorded a 38 percent growth in the January-June period of this year, the highest among the local companies, said Rahman. Square Pharmaceuticals, the local leader with around 20 percent of the total market share, has recorded an 18 percent growth in the April-June period. Ahmed Kamrul Alam, assistant general manager of Square Pharmaceuticals, said quality products and growing health awareness among people are the main reasons behind the growth in sales.
Square launched some essential pharmaceutical products, including anti-fungal and anti-depression medicines in the April-June period, which also helped the company post more sales in local market, said Alam. Currently, the market size of the local pharmaceutical industry is worth Tk 7,000 crore, said industry insiders. There are 250 small, medium and large local and multinational pharmaceutical companies operating in Bangladesh. Of the companies, the top 10 -- Square, Beximco, Eskayef, Incepta, ACME, Opsonin, Renata, ACI, Aristopharma and Drug International -- take up nearly 70 percent of the total market, according to an IMS survey conducted in 2008.
|September 13th, 2009, 06:33 PM||#87|
Join Date: Nov 2008
Square Pharma's export rises 59 per cent
The country's largest drug manufacturer Square Pharmaceuticals Ltd. has registered a whopping 58.28 per cent rise in its export in the year ended March 31,2009. "Our exports amounted to Tk 336.34 million during the year as against Tk 212.50 million in the corresponding period of 2008," according to the company's latest annual report. Of the total export value, Tk 331.84 million came from pharmaceutical products while Tk 4.49 million was fetched by agrovet products. The report said the exports are expected to rise in the coming years. The company's present export market covers Myanmar, Nepal, Kenya, Libya, Mauritius, Papua New Guinea, Somalia, Sri Lanka, Vietnam, Yemen, Ukraine, Bhutan, Cambodia, Mozambique, Afganistan, Tanzania, Costa Rica, North Korea, Belize, Hong Kong, Mouritania and Philippines.
"As the company has secured licence under UK MHRA, it is expected that the export potential will increase substantially in the near future," the report added. At the same time, the conglomerate's gross turnover, net turnover, gross profit and net profit after tax showed 18.51 per cent, 18.93 per cent, 21.94 per cent and 36.78 per cent rises respectively against the previous year. The company's gross turnover, net turnover, gross profit and net profit after tax rose to Tk 11.33 billion, Tk 9.82 billion, Tk 4.14 billion and Tk 1.89 billion respectively.
The company's number of shareholders grew 49.13 per cent in 2008-09 against 2007-08. There were 47,258 shareholders in the year ended March 31,2009. The company in its last annual general meeting on September 7 last approved cash dividend at 40 per cent and stock dividend at 25 per cent for the shareholders. During the year 2008-2009, Square Pharma has contributed Tk 2.31 billion to the national exchequer as against Tk. 1.87 billion during the previous year. "The contribution constitutes 23.62 percent of the sales revenue in as against 22.67 percent in the previous year," the report said.
Established in 1958 and converted into a public limited company in 1991, Square Pharmaceuticals Ltd. has turned itself into a leading figure in the pharmaceutical industry of Bangladesh over the last few decades and now aims to grow into a high performance global player.
The company went public in 1994 and got listed in 1995 on Dhaka Stock Exchange (DSE). With a paid-up capital of Tk 1.20 billion, Square Pharma has four each subsidiary and associate companies. The subsidiary companies are Square Spinnings Ltd, Square Cephalosporins Ltd, Square Biotechs Ltd and Square Multi Fabrics Ltd. On the other hand, the associate companies are Square Textiles Ltd, Square Knit Fabrics Ltd, Square Fashions Ltd and Square Hospitals Ltd.
Published by Alamgirkingpin