http://www.thedailystar.net/newDesign/news-details.php?nid=170187
Drug makers double sales in three years
Sajjadur Rahman
Top medicine makers recorded robust growth last year at an average 25 percent, riding on people’s growing health awareness and purchasing power, according to the market players.
Also, increased rural penetration of the manufacturers and a significant development in healthcare sector have contributed to the growth.
Bangladesh medicine sales reached Tk 3,700 crore three years ago, which nearly doubled to
Tk 7,000 crore in 2010. The industry players forecast the growth trend would take the sales volume to Tk 10,000 crore in 2011.
Square, Beximco, Eskayef, Incepta and Acme are the top five manufacturers by sales and growth rate.
Beximco grew faster than other companies at a staggering 33 percent in 2010 with Tk 523 crore sales.
Incepta’s sales and growth rate were Tk 665 crore and 31 percent respectively, followed by Acme’s Tk 600 crore and 17 percent.
Eskayef logged Tk 426 crore in sales and the growth rate was 27 percent, the third highest pace in the year, said a company official.
“Increasing health consciousness and buying capacity have helped the industry grow consistently,” said Mizanur Rahman Sinha, managing director of Acme Pharmaceuticals, one of the fastest growing manufacturers.
Sinha predicts the industry’s total sales at Tk 10,000 crore in the current year.
Managing Director of Incepta Pharmaceuticals Abdul Muktadir echoed the same reason for the market growth, but he is not surprised to see the success.
Muktadir said 5 percent GDP growth helps the pharma industry grow at 15 percent, and 6 percent and 7 percent growth makes it 20 percent and 25 percent respectively.
Sales of Square Pharmaceuticals, the market leader, were Tk 1,270 crore in 2010, up from Tk 1,116 crore a year ago. Sales grew 14 percent year-on-year .
AM Faruque, managing director and chief executive officer of Apex Pharma, finds Bangladesh market to be a potential one. He thinks affordability and availability of medicines will help the market boom in the next few years.
Faruque said Apex Pharma, which is not a big player now, will emerge as one of the top five companies in five years. The present turnover of the company is Tk 60 crore only.
“Apex is coming in a big way,” said Faruque.
Bill Mckean, a UK pharmacist who has recently joined Apex Pharma as its chief technical officer, sees a huge prospect and high-quality players in the local market.
According to him, a large population and relaxation of trade related intellectual property rights (TRIPS) for least developed countries are contributing to the market growth.
Business Monitor International in its latest report (Q1 2011) said Bangladesh has moved up one place to occupy the 14th position in 17 regional markets surveyed in BMIs Pharmaceutical & Healthcare Business Environment Ratings for the Asia region.
Still, Bangladesh has a long way to go, the report said.
This adjustment now sees Bangladesh placed below Vietnam and above Sri Lanka. Bangladesh’s pharmaceutical rating is 40.2 out of 100, a figure that has changed marginally from the previous quarter but remains lower than the regional average of 53.1. Globally, Bangladesh occupies 67th position in BMIs 83 market-strong pharmaceutical universe.
Drug makers double sales in three years
Sajjadur Rahman
Top medicine makers recorded robust growth last year at an average 25 percent, riding on people’s growing health awareness and purchasing power, according to the market players.
Also, increased rural penetration of the manufacturers and a significant development in healthcare sector have contributed to the growth.
Bangladesh medicine sales reached Tk 3,700 crore three years ago, which nearly doubled to
Tk 7,000 crore in 2010. The industry players forecast the growth trend would take the sales volume to Tk 10,000 crore in 2011.
Square, Beximco, Eskayef, Incepta and Acme are the top five manufacturers by sales and growth rate.
Beximco grew faster than other companies at a staggering 33 percent in 2010 with Tk 523 crore sales.
Incepta’s sales and growth rate were Tk 665 crore and 31 percent respectively, followed by Acme’s Tk 600 crore and 17 percent.
Eskayef logged Tk 426 crore in sales and the growth rate was 27 percent, the third highest pace in the year, said a company official.
“Increasing health consciousness and buying capacity have helped the industry grow consistently,” said Mizanur Rahman Sinha, managing director of Acme Pharmaceuticals, one of the fastest growing manufacturers.
Sinha predicts the industry’s total sales at Tk 10,000 crore in the current year.
Managing Director of Incepta Pharmaceuticals Abdul Muktadir echoed the same reason for the market growth, but he is not surprised to see the success.
Muktadir said 5 percent GDP growth helps the pharma industry grow at 15 percent, and 6 percent and 7 percent growth makes it 20 percent and 25 percent respectively.
Sales of Square Pharmaceuticals, the market leader, were Tk 1,270 crore in 2010, up from Tk 1,116 crore a year ago. Sales grew 14 percent year-on-year .
AM Faruque, managing director and chief executive officer of Apex Pharma, finds Bangladesh market to be a potential one. He thinks affordability and availability of medicines will help the market boom in the next few years.
Faruque said Apex Pharma, which is not a big player now, will emerge as one of the top five companies in five years. The present turnover of the company is Tk 60 crore only.
“Apex is coming in a big way,” said Faruque.
Bill Mckean, a UK pharmacist who has recently joined Apex Pharma as its chief technical officer, sees a huge prospect and high-quality players in the local market.
According to him, a large population and relaxation of trade related intellectual property rights (TRIPS) for least developed countries are contributing to the market growth.
Business Monitor International in its latest report (Q1 2011) said Bangladesh has moved up one place to occupy the 14th position in 17 regional markets surveyed in BMIs Pharmaceutical & Healthcare Business Environment Ratings for the Asia region.
Still, Bangladesh has a long way to go, the report said.
This adjustment now sees Bangladesh placed below Vietnam and above Sri Lanka. Bangladesh’s pharmaceutical rating is 40.2 out of 100, a figure that has changed marginally from the previous quarter but remains lower than the regional average of 53.1. Globally, Bangladesh occupies 67th position in BMIs 83 market-strong pharmaceutical universe.
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