Square maintains lead, Incepta 2nd, Beximco slips to 3rd position
Saturday, 13 September 2008
Naim-Ul-Karim
The year-on-year turnover of around 255 local drug manufacturers grew nearly 10 per cent in the fiscal year (FY) 2007-08 with top ten companies marketing high quality new products, industry insiders said on Thursday.
Of the total sales worth around Tk 40 billion (Tk 4000 crore) in the outgoing fiscal, they said around 30 pharmaceutical companies occupied more than 80 per cent of total market share.
In terms of market share, industry insiders said Incepta Pharmaceuticals Limited for the first time emerged as second largest company while market leader Square maintained its superiority by holding the top position.
According to a report of the IMS Health Bangladesh Limited, a Switzerland based research organisation, Incepta's turnover in the fiscal 2007-08 surpassed Tk 3.01 billion (Tk 301 crore), up by around eight per cent from fiscal 2006-07.
Incepta Pharmaceuticals Ltd said the success came as the company managed to produce a number of high quality new products using cutting edge technology to win the consumers' confidence.
The chief of the company Abdul Muktadir said: " Our market share enhanced as we manufactured a number of high quality drugs and were able to gain consumers' trust on our products."
Incepta's market share increased to 7.5 per cent in the immediate past fiscal from nearly seven per cent in 2006-07 year.
Sector insiders said Beximco's failure to manufacture its many regular products for various reasons also contributed to the success of the Incepta to emerge as second largest company in the outgoing fiscal year.
Beximco Pharmaceuticals Ltd's turnover came down to nearly Tk 2.92 billion (Tk 292 crore) in the last fiscal from Tk 3.99 billion (Tk 399 crore) in 2006-07 fiscal causing to slump its market share to stand at seven per cent, they said.
When contacted, chief executive officer of Bexmico Pharmaceuticals Nazmul Hasan said the company's market share declined to some extent as it could not produce a number of drugs in the immediate past year due to various problems.
But, he expressed the hope that Beximco will regain its position by October this year.
"We expect to regain our position by October this year as we are now in a shape to utilise our full capacity," Mr. Nazmul said.
Though Beximco slipped from its second position, Square continued to maintain its double-digit growth holding top most rank.
The market share of the company stood at over 18 per cent in 2007-08 fiscal from around 17 per cent previously in 2006-07 year, a senior company official said.
He said the company's turnover surpassed Tk 7.52 billion (Tk 752 crore) recording nearly 15 per cent growth in the outgoing fiscal year.
"Our commitment to produce high quality time demanding drugs at affordable prices helped us maintain the top position," Square's general manager Md Mizanur Rahman told the FE.
He said Square, which obtained UK's MHRA approval for exporting medicine to that part of the world as a first Bangladeshi company, will make its efforts in manufacturing new products in the coming years to meet growing demand of the domestic market.
Of total demand of medicine in the domestic market, the pharmaceutical industry insiders said the local and leading multinational companies including Sanofi-Aventis and Nuvista (previously Organon) can meet over 90 -95 per cent.
Most of the aforesaid companies except for Beximco and Drug International had nearly double digit growth in sales in the past fiscal.
In the list of the top ten companies in the past fiscal, Acme ranked 4th, Eskayef Bangladesh Limited ranked 5th, ACI Bangladesh Ltd ranked 6th, Renata Pharmaceuticals Ltd ranked 7th, Aristo Pharmaceuticals Ltd ranked 8th, Drug International Ltd ranked 9th and Opsonin Bangladesh Limited ranked 10th position in sales in 2007-08 fiscal.
The year-on-year turnover of around 255 local drug manufacturers grew nearly 10 per cent in the fiscal year (FY) 2007-08 with top ten companies marketing high quality new products, industry insiders said on Thursday.
Of the total sales worth around Tk 40 billion (Tk 4000 crore) in the outgoing fiscal, they said around 30 pharmaceutical companies occupied more than 80 per cent of total market share.
In terms of market share, industry insiders said Incepta Pharmaceuticals Limited for the first time emerged as second largest company while market leader Square maintained its superiority by holding the top position.
According to a report of the IMS Health Bangladesh Limited, a Switzerland based research organisation, Incepta's turnover in the fiscal 2007-08 surpassed Tk 3.01 billion (Tk 301 crore), up by around eight per cent from fiscal 2006-07.
Incepta Pharmaceuticals Ltd said the success came as the company managed to produce a number of high quality new products using cutting edge technology to win the consumers' confidence.
The chief of the company Abdul Muktadir said: " Our market share enhanced as we manufactured a number of high quality drugs and were able to gain consumers' trust on our products."
Incepta's market share increased to 7.5 per cent in the immediate past fiscal from nearly seven per cent in 2006-07 year.
Sector insiders said Beximco's failure to manufacture its many regular products for various reasons also contributed to the success of the Incepta to emerge as second largest company in the outgoing fiscal year.
Beximco Pharmaceuticals Ltd's turnover came down to nearly Tk 2.92 billion (Tk 292 crore) in the last fiscal from Tk 3.99 billion (Tk 399 crore) in 2006-07 fiscal causing to slump its market share to stand at seven per cent, they said.
When contacted, chief executive officer of Bexmico Pharmaceuticals Nazmul Hasan said the company's market share declined to some extent as it could not produce a number of drugs in the immediate past year due to various problems.
But, he expressed the hope that Beximco will regain its position by October this year.
"We expect to regain our position by October this year as we are now in a shape to utilise our full capacity," Mr. Nazmul said.
Though Beximco slipped from its second position, Square continued to maintain its double-digit growth holding top most rank.
The market share of the company stood at over 18 per cent in 2007-08 fiscal from around 17 per cent previously in 2006-07 year, a senior company official said.
He said the company's turnover surpassed Tk 7.52 billion (Tk 752 crore) recording nearly 15 per cent growth in the outgoing fiscal year.
"Our commitment to produce high quality time demanding drugs at affordable prices helped us maintain the top position," Square's general manager Md Mizanur Rahman told the FE.
He said Square, which obtained UK's MHRA approval for exporting medicine to that part of the world as a first Bangladeshi company, will make its efforts in manufacturing new products in the coming years to meet growing demand of the domestic market.
Of total demand of medicine in the domestic market, the pharmaceutical industry insiders said the local and leading multinational companies including Sanofi-Aventis and Nuvista (previously Organon) can meet over 90 -95 per cent.
Most of the aforesaid companies except for Beximco and Drug International had nearly double digit growth in sales in the past fiscal.
In the list of the top ten companies in the past fiscal, Acme ranked 4th, Eskayef Bangladesh Limited ranked 5th, ACI Bangladesh Ltd ranked 6th, Renata Pharmaceuticals Ltd ranked 7th, Aristo Pharmaceuticals Ltd ranked 8th, Drug International Ltd ranked 9th and Opsonin Bangladesh Limited ranked 10th position in sales in 2007-08 fiscal.