Profit earning by leading pharma cos on track

The profits of leading pharmaceutical companies of the country during the January-September period of the current calendar year (2013) recorded a respectable growth despite political turmoil, industry insiders said.
They said the country's pharmaceutical companies have made profits ranging between 8.0 per cent and 15 per cent in the first nine months of 2013 compared to that of the corresponding period of the last year.
"There has been a respectable growth in profits of the pharmaceutical companies; it's a piece of good news to all," Managing Director of Incepta Pharmaceuticals Ltd Abdul Muktadir told the FE.
He said the demand for pharmaceutical products is always high; so despite the unstable political environment the drug manufacturers have been doing good business.
Mr Muktadir said the pharmaceutical industry is one of the most developed sectors in the country.
He said the country's pharmaceutical companies are continuously working hard for expanding their domestic and overseas markets.
Recently an international study said there are about 231 companies in the pharmaceutical sector and the total annual market size is about Tk 120 billion in Bangladesh.
Some 92 per cent of the total requirement for medicines is met by the local companies and the rest 5.0 per cent is imported.
The imported medicines mainly include cancer drugs, vaccines for viral diseases, hormones etc.
Beximco Pharmaceuticals Ltd (BPL), a leading manufacturer of pharmaceutical goods, earned Tk 1.8 billion in profits in the period mentioned above while its profits were worth Tk 1.3 billion in the same period last year.
Meanwhile, Square Pharmaceuticals Ltd, another market leader of the industry, made profits worth Tk 2.51 billion during the April-September period of this year. It, however, made Tk 2.5 billion profits in the corresponding period of the last year.
Managing Director of Hudson Pharmaceuticals Ltd SM Shafiuzzaman said although the country is passing through political turmoil, most pharmaceutical companies have increased their production capacity.
He said in recent times the production costs have increased by 10-12 per cent but due to the implementation of effective policies their profits are increasing.
Managing Director of General Pharmaceuticals Ltd Momenul Haq said the pharmaceutical industry could have perform better had there been adequate supply of gas and electricity.
He said due to lack of infrastructure most of the companies could not utilise their hundred per cent capacity.
Vice President of Bangladesh Pharmaceutical Society Prof Md Anwar Ul Islam said the pharmaceutical industry always remains out of the purview of hartals and other political activities; so the sector has been doing well.
"But if the political turmoil and political activities linger on, then the pharmaceutical sector might also be affected," he said.
According to Bangladesh Association of Pharmaceutical Industries (BAPI), the country's pharmaceutical goods are being exported to many destinations including Europe Union (EU), Afghanistan, Bhutan, Cambodia, Fiji, Hong Kong, Iraq, Macau, Malaysia, the Maldives, Myanmar, Nepal, Papua New Guinea and Sri Lanka.