Square Pharma marks its footsteps in Hong Kong
Sunday, 14 September 2008
FE Report
Square Pharmaceuticals Ltd, the market leader of the Bangladesh pharmaceutical industry and the first Bangladeshi pharmaceutical company to attain the UK MHRA certification has recently started exporting its world-class pharmaceutical products to Hong Kong, said a press release.
Hong Kong, a special administrative region of China, enjoying first world living conditions with GDP per capita USD 42,000, has a pharmaceutical market worth around USD 715 million.
Square Pharma has already registered five products in Hong Kong and has exported its pharmaceutical consignment to Hong Kong in July 2008. Square has more than 20 products in queue in the office of the registration approval authority of the department of health, Hong Kong.
Hong Kong is a moderately regulated market with strict enforcement of the International Patent Regime. So, Square's products had to undergo the rigor and complexity of its highly meticulous regulatory screening system before attaining registration approval, the Square statement said.
With the inclusion of another strategically important market in its export distribution like Hong Kong, Square continues to maintain its stride for adding more premium export markets in its overall global international market presence.
Square Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the first position among all national and multinational companies since 1985.
It was established in 1958 and converted into a public limited company in 1991.
The sales turnover of the company was more than Taka 7.5 Billion (US$ 107.91 million) with about 16.92 per cent market share (April 2006- March 2007) having a growth rate of about 23.17 per cent.
Listed in 1995, Square Pharma remained the top market capitalisation leader on the Dhaka Stock Exchange (DSE) in recent months.
In the month of July, the company grabbed the top market capitalisation leader accounting for 4.83 per cent of the total market capitalisation of DSE with Tk 37,066.25 million.
Square Pharmaceuticals Ltd, the market leader of the Bangladesh pharmaceutical industry and the first Bangladeshi pharmaceutical company to attain the UK MHRA certification has recently started exporting its world-class pharmaceutical products to Hong Kong, said a press release.
Hong Kong, a special administrative region of China, enjoying first world living conditions with GDP per capita USD 42,000, has a pharmaceutical market worth around USD 715 million.
Square Pharma has already registered five products in Hong Kong and has exported its pharmaceutical consignment to Hong Kong in July 2008. Square has more than 20 products in queue in the office of the registration approval authority of the department of health, Hong Kong.
Hong Kong is a moderately regulated market with strict enforcement of the International Patent Regime. So, Square's products had to undergo the rigor and complexity of its highly meticulous regulatory screening system before attaining registration approval, the Square statement said.
With the inclusion of another strategically important market in its export distribution like Hong Kong, Square continues to maintain its stride for adding more premium export markets in its overall global international market presence.
Square Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the first position among all national and multinational companies since 1985.
It was established in 1958 and converted into a public limited company in 1991.
The sales turnover of the company was more than Taka 7.5 Billion (US$ 107.91 million) with about 16.92 per cent market share (April 2006- March 2007) having a growth rate of about 23.17 per cent.
Listed in 1995, Square Pharma remained the top market capitalisation leader on the Dhaka Stock Exchange (DSE) in recent months.
In the month of July, the company grabbed the top market capitalisation leader accounting for 4.83 per cent of the total market capitalisation of DSE with Tk 37,066.25 million.