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The content is about the present situation of Pharma Market of Bangladesh & The impressive growth of a pharmaceutical company of Bangladesh.
Transcript of Pharma Market
- Bangladesh & Pharma Market Prepared By: Biplob Kumar Sarker, Product Executive, PMD, Medicon Pharmaceuticals Ltd.
- The pharmaceutical sector is highly developed in Bangladesh and contributes significantly to the country's economy. 97% need of Bangladesh Pharma market is fulfilled by their own manufacturers. Among the Bangladeshi pharmaceuticals, some company is improving day by day in a aggressive manner & some are going with average business.
- 1. Square Pharmaceuticals Ltd. 2. Incepta Pharmaceuticals Ltd. 3. Beximco Pharmaceuticals Ltd. 4. Opsonin Pharma Ltd. 5. Eskayef Bangladesh Ltd..
- A symbol of improvement
- Incepta Pharmaceuticals is a very first growing pharmaceuticals of Banngladesh. Incepta Pharmaceuticals Ltd. is a leading pharmaceutical company in Bangladesh established in the year 1999. The history of this company is very much attractive and impressive.
- December 16th 1998, the construction of the factory began. August 1999, office operations began. December 1999, first batch of product Neodin S 150 (Ranitidine 150 mg tablet) was produced. January 2000, sales began formally. February 2000, training of the first batch of medical representatives began. April 2000, with the launching of Osartil (Losartan Potassium) the first prescription product of Incepta was launched in the market. The company started off in a new direction. Several other first ever product, Celenta (Celecoxib), Rofenta (Rofecoxib) and Omidon (Domperidone) followed in the footsteps of Osartil. A total of 23 new generics with 35 presentations were launched this year. 4 of these generics were first ever in Bangladesh. By the end of 2000 Incepta was the number 31st company of the country.
- There was massive restructuring throughout the company. Sales, Distribution, Marketing Strategy Department, and Factory; all were reorganized. A total of 18 new generics with 37 presentations were launched this year. 11 of these generics were first ever in Bangladesh. By the end of the year Incepta was ranked the 12th company of the country. The company had a phenomenal growth of 448% over the previous year (IMS).
- A total of 32 new generics with 49 presentations were launched. 14 of these generics were first ever in Bangladesh. Massive expansion project of the factory was envisioned. New office for the sales and distribution operation was also taking shape. The company registered an excellent growth of 55.85% over the previous year. By the end of the year Incepta was ranked the 10th company of the country (IMS).
- Incepta kept on introducing innovative and newer molecules to the local market. A total of 32 new generics with 48 presentations were launched. 18 of these generics were first ever in Bangladesh. The new office (Dhanmondi) for the sales and distribution operation was inaugurated. The company registered an excellent growth of 28.5% over the previous year (IMS). By the end of the year Incepta was ranked the 8th company of the country (IMS).
- A total of 17 new generics with 32 presentations have been launched. 6 of these generics were first ever in Bangladesh. The company maintained an excellent growth of 48.2% over the previous year (IMS). The ranking went up again and the company was ranked the 5th largest company of the country with the highest growth rate among the top five (IMS).
- We thrived under challenge and excelled in venturing into unexplored grounds and continued to satisfy our customers. Incepta was audited and accepted as a supplier for UNICEF & UNDP. We started to supply life saving drugs to UNICEF from March, 2005. A total of 27 new generics with 76 presentations were launched. 12 of these generics were introduced first time ever in Bangladesh. The company maintained an excellent growth of 34.8% over the previous year (IMS). The company was ranked 3rd largest with the highest growth among the top five (IMS).
- By 2006 Incepta had positioned itself as an innovative research oriented and knowledge based pharmaceutical company specializing in analysis, design and development of new products. Incepta successfully started overseas marketing operation from May 2006. A total of 25 new generics with 82 presentations were launched. 9 of these generics were first ever in Bangladesh. The company maintained an excellent growth of 31.26% over the previous year (IMS). The company maintained the ranking of 3rd largest (IMS).
- Incepta pioneered the introduction of biotech products (Human Insulin) and lyophilized products (Pantoprazole injection) in the Bangladesh pharmaceutical market. This was the first time a local pharmaceutical company produced such highly sophisticated technology product in the country. A total of 32 new generics with 82 presentations were launched. 4 of these generics were first ever in Bangladesh. Marketing, Sales, Distribution and Administration departments shifted to the fully owned new office premises in Tejgaon, Dhaka. The international standard head office of Incepta started operation in the new office premises on 1st October, 2007. A marketing and sales team was setup in Myanmar headed by a country manager from the Marketing Strategy Team to promote the 35 products registered with the Myanmar FDA. The company maintained a growth of 12.93% over the previous year (IMS). The company held the 3rd largest ranking (IMS) among the companies.
- Continued investment in our core strength that is our manufacturing plant led to recognition from European authorities and on January 11, 2008 Incepta attained European "Certificate of GMP Compliance". 40 new products with 86 presentations were introduced of which 10 were first ever in Bangladesh. The plant received GMP certification (General formulations and Cephalosporins) from Kenyan Ministry of Health on January 21, 2008. Incepta was also awarded GMP (Cephalosporins) from Ethiopian Ministry of Health on July 22, 2008. Incepta registered 51 products in Mongolia on September 26, 2008 (As first Bangladeshi Company). Incepta registered 3 products in Georgia on October 13, 2008 (As first Bangladeshi Company). In 2008 significant number of products got registration in different countries. 19 products from Democratic Republic of Congo, 20 products from Sri Lanka, 22 products from Togo, 8 products from Hong Kong, 20 products from Mauritania, 6 products from Vietnam, 1 product in Cambodia. The company maintained a growth of 12.10% over the previous year (IMS). The company became the 2nd largest (IMS) among the companies operating in Bangladesh.
- Incepta started venturing in the field of human vaccines and hormonal products. Construction of the Vaccine & Hormones facilities started on 1st January 2009 and 8th November 2009 respectively. Incepta became the first Bangladeshi Company to get GMP Compliance Certificate from Turkey (Tablets, Capsules and Lyophilized products) on January 08, 2009. Incepta achieved GMP certification from the Ministry of Health, Yemen on May 25, 2009 (Sterile and Non-sterile products). Incepta launched 51 new products in 2009. 4 of these were first ever in Bangladesh pharmaceutical market. The company maintained an excellent growth of 27.71% over the previous year (IMS). The company maintained the 2nd largest (IMS) position in 2009.
- Incepta was accepted and became enlisted with the Copenhagen office of UNICEF, UNDP and UNESCO as global supplier of medicine. Incepta was awarded GMP certificate from Uganda, National Drug Authority on 5th August 2010 (Sterile Products, Non-sterile products and Cephalosporins). Incepta launched 56 product presentations. 10 of which were first ever in Bangladesh market. Incepta maintained the 2nd largest (IMS) position in Bangladesh pharmaceutical market in 2010. The company showed the strongest growth among the top 10 companies with a growth rate of 34.97% (IMS).
- Incepta introduced Human Vaccines to the market and become the first Bangladeshi vaccine manufacturing company. Export has emerged as a focus area for Incepta. With over 300 products registered in different countries export is now set to play more important role in the growth of the company. Currently the company exports to 37 countries of the world with many more in the pipeline. Since starting supply of medicine to UNICEF in Bangladesh, Incepta has remained the largest supplier till today. In 2011 the company has launched 55 products, 9 of which are first ever in Bangladesh market.
- In 2012 the company has launched 52 products, 7 of which are first ever in Bangladesh market.
- Up to March, 2013, the company has launched 21 products, 4 of which are first ever in Bangladesh market.
- Reference: 1. http://www.inceptapharma.com 2. http://archive.thedailystar.net/newDesign/ news-details.php?nid=239204