Market Expansion Strategy Of Square Pharmaceuticals Ltd.

Internship report on

Market Expansion Strategy of Square Pharmaceuticals Ltd.

Supervised by:

Prepared by: SAUMITRA KUMAR PAUL th

Roll No. 060007, 5 Batch MBA (evening) Program IBA, University of Rajshahi

DR. MD. HASANATH ALI Associate Professor IBA University of Rajshahi.

INSTITUTE OF BUSINESS ADMINISTRATION University of Rajshahi

LETTER OF TRANSMITTAL

Dated: 7th May, 2009. To, Dr. Md. Hasanath Ali Associate Professor Institute of Business Administration University of Rajshahi Rajshahi. Subject : Submission of Internship Report. Dear Sir, It is my great pleasure to submit the internship report on "Market Expansion Strategy of Square Pharmaceuticals Ltd." which is a part of MBA program to you for your kind consideration. Encouraged by your mentoring, I went beyond typical “observe-describe” manner in preparing this report. My endeavor was to attain a thorough understanding of the analytical techniques and skill necessary to identify and exploit strategies successfully. Within the time limit and my knowledge & capability, I paid sincere efforts to study related materials, documents, observed operations performed in Square Pharmaceuticals Ltd and examine relevant records for preparation of the report. But there may exist some mistakes and errors due to various limitations. Therefore, I beg your kindness in advance. I’ll be available anytime if you confront any difficulty to translate any aspect of this report. You are requested to accept this internship report and oblige me thereby.

Sincerely yours

Saumitra Kumar Paul Roll No. 060007, 5th Batch MBA (evening) Program, IBA Rajshahi University

ACCEPTANCE LETTER

This is to certify that the internship report on “Market expansion strategy of Square Pharmaceuticals Ltd.” has been prepared by Saumitra Kumar Paul, bearing Roll No. 060007, a regular student of MBA (evening) Program, 5th Batch, Institute of Business Administration, University of Rajshahi, under my direct supervision and guidance. During the internship program, his devotion, sincerity and modesty were quite impressive and praiseworthy.

I wish him every success in life.

Dr. Md. Hasanath Ali Associate Professor Institute of Business Administration University of Rajshahi Rajshahi.

RECOGNITION LETTER

To Whom It May Concern

I am very pleased to certify that Saumitra Kumar Paul bearing roll no. 060007 a student of MBA program, Institute of Business Administration, University of Rajshahi was engaged in Square Pharmaceuticals Ltd. for the period from 10th November 2008 to 10th February 2009 to conduct the internship program. He completed the assigned task successfully. During the period of his internship, I found him sincere, punctual, creative, hard working and dedicated in doing his assigned jobs. I wish him every success in life.

Dewan Sazzadul Karim Senior Manager Market Research and Planning Cell Square Pharmaceuticals Ltd. Dhaka.

ACKNOWLEDGEMENT

“Market expansion strategy of Square Pharmaceuticals Ltd.” symbolizes the power of team work despite of being my personal academic effort. More precisely, it symbolizes the nature of virtual team with different individuals from different geographical locations. Superb virtual team requires equally superb team members, and I was extremely fortunate to have this in my favor. I owe a debt of gratitude to all those people without whom this report would have never been accomplished. These people, not only mentored me but they also made it a point that this study becomes a classy piece of study and its only their patronage, their mentoring, their constructive assistance and guidance that has made the study really meaningful and a well thought out piece of literature. To start off, it’s a privilege for me to express my deepest sense of acknowledgement to Dr. Md. Hasanath Ali, my Academic supervisor from Institute of Business Administration, University of Rajshahi, my mentor and undoubtedly the key person behind this study. It has been an out and out honor to work under him. His versatile viewpoint and understanding of the subject matter, his guidance’s, his constructive criticisms and above all the level of motivation and helpfulness he showed really made me to stay focused and work logically. I am gratefully indebted to Mr. Dewan Sazzadul Karim, Senior Manager, MRPC, Square Pharmaceuticals Ltd, my organization supervisor, who deserves dedication of this report and so I did. I will be really honored to work with him again.

It would be true to say that, without the helping hand of Mr. Md. Kamruzzaman Khan, Executive, and Mr. H. M. Ashiquer Rahman, Executive, the whole project might have been unsuccessful. These two Officers are entitled to receive thanks for their patience and assistance. I’ll remember such an obliging personality like Mr. Monsur Rahman Khan, Executive, MRPC. He always behaved with me affectionately & cordially.

My sincere acknowledgement also goes to Mr. Mark Rupayan. His tremendous support always followed me as my own shadow does. I would also like to express my gratitude to the other members of MRPC. Invaluable assistance was provided by the entire MRPC team. I regret that I cannot list the dozens of names that should be placed herein. To all I extend my sincere thanks. Many of my friends contributed ideas and made suggestions that greatly enhanced this report. I would like to thank them. At the last, but not the least, A special recognition goes to Mr, Nasir Uddin

Ahmed who provided sincere cooperation to manage my internship in Square Pharmaceuticals Ltd and on demand information necessary to prepare this report. Where this report succeeds I share the credit, where it errs I alone accept the responsibility.

Saumitra Kumar Paul Roll-060007, 5th Batch. MBA (Evening) Program Institute of Business Administration University of Rajshahi.

EXECUTIVE SUMMERY

Of late, the issue of market expansion has attracted the significant attention of academia as well as industry. Market expansion as a strategic growth option is particularly relevant in developing countries like Bangladesh because of very low product penetration and consumption levels. Bangladesh is one of Asia Pacific’s most promising opportunities for drug makers with $700 million sector. There are currently a total of 245 companies out of which 200 have operations in the country. The market is totally dominated by the local companies and there are only 5 multi-nationals currently operating. The total number of brands that are registered in Bangladesh are currently estimated to be 5,300, while the total number of dosage forms & strengths are 8,300 from 450 generics. SQUARE today symbolizes a name - a state of mind. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985. At the end of 2007 as well, Square was the leading company with annual sales worth BDT 68.9bn (USD 106.5mn) and market share of 18%. Such is the dominance of Square that the closest competitor Beximco has only about half the market share. and is now on its way to becoming a high performance global player. This paper presents a comprehensive analysis of Market Expansion Strategy of Square Pharmaceuticals Ltd, and some strategic recommendations with criticism.

TABLE OF CONTENTS

Letter of Transmittal

i

Acceptance Letter

ii

Recognition Letter

iii

Acknowledgement

iv

Executive summery

v

1

Chapter 1: Introduction 1.1 Origin of the report 1.2 Rationality of the study 1.3 Scope of the study 1.4 Objective of the study 1.5 Methodology 1.6 Collection of the data 1.7 Limitations of the study 1.8 List Of Abbreviations Used 1.9 Definition of the terms

1 2 2 2 3 3 3 3 4 5

2

Chapter 2: An Overview of Square Pharmaceuticals Ltd. 2.0 Introduction 2.1 Corporate history 2.2 Vision 2.3 Mission 2.4 Objective 2.5 Corporate focus 2.6 Management philosophy 2.7 Organogram of SPL Corporate governance 2.8 The executive management 2.9 Dividend policy 2.10 Shareholders' relationship 2.11 Corporate socialization 2.12 Research and new products development 2.13 Present financial position 2.14 Human resources 2.15 Technological upgradation 2.16 R&D activities 2.17 Business portfolio 2.18 Distribution channel 2.19 Manufacturing facilities 2.20 Raw material manufacturing 2.21 Present market position 2.22 Export 2.23

7 8 9 9 9 9 9 12 13 16 16 17 18 18 19 20 21 21 21 21 22 23 24 25

2.24 2.25 2.26 2.27 3

Value proposition Value creation activities Revenue model Comparison between domestic and export sales

25 25 26 26

Chapter 3: Market Expansion Strategy of SPL 3.1 Marketing mix 3.2 Consistent upgradation 3.3 Export 3.4 Low manufacturing cost through vertical integration 3.5 Product market growth matrix strategy of SPL

28 31 31 31 35

4

Chapter 4: Marketing Problems of SPL

34

5

Chapter 5: Recommendations

36

6

Chapter 6: Conclusion

41

Bibliography

42

Appendix

43

Part 1

Introduction

1

Introduction

1.1 Origin of the report In order to fulfill the partial requirement of the MBA program, my respected supervisor Dr. Md. Hasanath Ali, Associate Professor, Institute of Business Administration, University of Rajshahi assigned me to study

market

expansion strategy of Square Pharmaceuticals Ltd. followed by a detail report.

1.2 Rationality of this study Internship is a mandatory prerequisite for students willing to attain a MBA degree at Institute of Business Administration, Rajshahi University. The internship program includes a period of 12 weeks of on-the-job-training where I could have first-hand observations concerning the utility of different departments. Besides this, Of late the issue of market expansion has attracted the significant attention of academia as well as industry. Market expansion as a strategic growth option is particularly relevant in developing countries like Bangladesh because of very low product penetration and consumption levels. Therefore, this study is very much significant in terms of modern business environment.

1.3 Scope of this report The scope of the report was based on the annual reports & web site, input from interviews of executives of the Square. To analyze the situation in question, I worked on focusing on Square Pharmaceuticals Ltd. Analyzing their objectives, market strategies, Market situations, product mixes, etc. The analysis was based on the exposed and available information

2 | Page

only. In-depth data were not always available on-demand due to some unavailable reasons. SWOT analysis of the company has been done. Some recommendations also have been worked out to improve the current situations for the company.

1.4 Objective of the study The broad objective of this report is to fulfill the partial requirement of the MBA program. As per the requirement of MBA program of IBA, University of Rajshahi, every student needs to work for three months as an intern to acquire practical knowledge in a real business setting. The specific objectives aimed for this report is to conceptualize the current market expansion strategy of SPL and to identify and suggest scopes of improvement in current strategy.

1.5 Methodology Information used to prepare this report has been collected from both the primary

and

secondary

sources

which

together

provided

a

more

comprehensive information.

1.6 Collection of the data An open discussion method was followed to gather primary information by informally interviewing the various executives of the company. Participants were purposefully selected as they commonly engaged in marketing directly or indirectly. Observations were also used to collect primary data while working in different desks.

The secondary data was accumulated from two sources- a. internal and b. external. The former sources were annual reports, periodicals, articles and brochures published by the company. But in the later case, journals, research papers and articles from various online sources. 3 | Page

1.7 Limitations Of The Study This report suffered from several limitations: • The most important of them was “time constraint”. Time was not adequate

to complete the study more perfectly. • Another important limitation was “inaccessibility in many section of the

organization”. I confronted difficulties in getting appointment from the desired respondents as well as appropriate response from the selected respondents due to being confidential for the company. • This report also suffered from inadequate secondary information. • This report’s factual accuracy may be compromised due to out-of-date

information. • The findings may not be generalized to the SPL as a whole.

1.8 List Of Abbreviations Used SPL IMS WTA MRPC cGMP

: : : : :

API UKMHR A MPO DDA POM OTC

: : : : : :

Square Pharmaceuticals Ltd. Information Medical Statistics World Trade Agreement Market Research Planning & Cell Current Good Manufacturing Practice is a term recognized worldwide as a holistic approach for the control and management of manufacturing and quality control testing of food and pharmaceutical products. Active Pharmaceutical Ingredients. United Kingdom Medicines and Healthcare Products Regulatory Agency Medical Promotion Officer Directorate of Drug Administration. Prescription Only Medicine Over The Counter

4 | Page

1.9 Definition Of The Terms • Value Proposition. Chesbrough and Rosenbloom (2002) define the

value proposition as the value created for users by the offering based on the technology. • Biotechnology is a radical innovation which has a very different

technological regime from the traditional pharmaceutical one. The manner in which biotechnology has been applied to the search for, and development of, biopharmaceuticals is quite different from the traditional approach. This new regime has resulted in the innovation process being substantially conducted by small specialist firms. However pharmaceutical companies have remained innovative, both with respect to the traditional small molecule based technological trajectory but also in their adjustment process to the new technology. • OTC product- Over the counter medicine product which can be

advertised of commercialized • POM product- Prescription only medicine. Strictly regulated in terms of

pricing and approaches.

5 | Page

Chapter 2

An Overview of Square Pharmaceuticals Ltd.

6 | Page

2

Company Overview

2.0 INTRODUCTION SQUARE Pharmaceuticals Limited (SPL) is the largest pharmaceutical company in Bangladesh and is leading the Pharmaceuticals sector from the very beginning. It has been continuously in the 1st 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 SPL was more than Taka 7.5 Billion (US$ 107.91 million) with about 16.92% market share (April 2006– March 2007) having a growth rate of about 23.17%. Square Pharmaceuticals Limited is an organization with equal emphasis on Leadership, Technology, Quality and Passion. Square Pharmaceuticals Ltd. is the leading branded generic pharmaceutical manufacturer in Bangladesh producing quality essential and other ethical drugs and medicines. SQUARE today symbolizes a name - a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player.

7 | Page

2.1 CORPORATE HISTORY Square Pharmaceuticals started as a Partnership Firm in 1958. It converted into a Private Limited Company in 1964. The company made its initial price offering in 1995. It has achieved MHRA certificate as the first pharmaceutical company of Bangladesh. Year of Establishment (Initially as a Partnership)

: 1958

Incorporated as a Private Limited Company

: 1964

Technical Collaboration Agreement with Janssen Pharmaceuticals of Belgium ( a subsidiary of Johnson & Johnson International Ltd. )

: 1975

Technical Collaboration Agreement with F. Hoffman-La Roche & Co. Ltd.

: 1984

Converted into Public Limited Company

: 1991

Initially Public Offering (IPO)

: 1994

Stock Exchange Listings

:

: 1995

Agreement with M/s. Bovis Tanvec Ltd. of UK for implementation of Dhaka Plant

: 1996

Awarded ISO-9001 Certificate

: 1998

Awarded UK-MHRA Certificate

: 2007

Business Lines

: Manufacturing and Marketing of Pharmaceutical Finished Products, Basic Chemicals, AgroVet Products and Pesticide Products

Authorized Capital

: Tk. 5,000 million

Paid-up Capital

: Tk. 894.24 million

Number of Employees

: 3,564

Subsidiary Company

: Square Spinnings Ltd. Square Cephalosporins Ltd.Square Biotechs Ltd.

Associate Company

: Square Textiles Ltd. Square Knit Fabrics Ltd. Square Fashions Ltd. Square Hospitals Ltd.

Source: Annual report of SPL

8 | Page

2.2 VISION Square views business as a means to the material and social wellbeing of the investors, employees and the society at large, leading to accretion of wealth through financial and moral gains as a part of the process of the human civilization.

2.3 MISSION It’s Mission is to produce and provide quality & innovative healthcare relief for people, maintain stringently ethical standard in business operation also ensuring benefit to the shareholders, stakeholders and the society at large.

2.4 OBJECTIVE It’s objectives are to conduct transparent business operation based on market mechanism within the legal & social frame work with aims to attain the mission reflected by it’s vision.

2.5 CORPORATE FOCUS It’s vision, mission and objectives are to emphasize on the quality of product, process and services leading to growth of the company imbibed with good governance practices.

2.6 MANAGEMENT PHILOSOPHY The Philosophies as have been adopted by Square Pharmaceuticals Ltd. are as follows : •

Businesses

should

support

and

respect

the

protection

of

internationally proclaimed human rights within their sphere of influence; and •

Make sure that they are not complicit in human rights abuses. 9 | Page

•

Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

•

The elimination of all forms of forced and compulsory labor;

•

The effective abolition of child labor and

•

Eliminate discrimination in respect of employment and occupation.

•

Business should support a precautionary approach to environmental challenges:

•

Undertake initiatives to promote greater environmental responsibility; and

•

Encourage the development and diffusion of environmentally friendly technologies.

•

Business should work against corruption in all its forms,

including

extortion and bribery. •

Square strives, above all, for top quality health care products at the least cost reaching the lowest rungs of the economic class of people in the country. Square values our social obligations.

•

Square owes our shareholders and strive for protection of their capital as well as ensure highest return and growth of their assets.

•

Square strives

for best compensation to all the employees who

constitute the back-bone of the management and operational strength of the company through a pay-package composing salary/wages, allowances,

bonuses,

profit

participation,

leave

salary

and

superannuation & retirement benefits. •

Square strives for the best co-operation of the creditors & debtors the banks & financial

Institutions who provide financial support when

Square needs them, the suppliers of raw materials & suppliers who offer them at the best prices at the opportune moments,

the

providers of utilities-power, gas & water etc. and the customers who buy our products & services by redeeming their claim in time by making prompt payment and by distributing proper product on due dates to our customers.

10 | Page

•

Square strives for fulfillment of our responsibility to the government through payment of entire range of due taxes, duties and claims by various public agencies like municipalities etc.

•

Square strives, as responsible citizen, for a social order devoid of

malpractices,

anti-environmental

behaviors,

unethical

and

immoral activities and corruptive dealings. •

Square strives for practicing good-governance in every sphere of activities covering inter alia not being limited to, disclosure & reporting to shareholders,

holding AGM in time,

and other benefits to shareholders, price sensitive

information,

reporting/dissemination of

acquisition of shares by

recruitment & promotion of staff, assets etc.

distribution of dividends

all that directly and

insiders,

procurement & supplies, indirectly affect the

concerned groups - the shareholders,

the creditors,

sale of

interest of suppliers,

employees, government and the public in general. •

Square strives for equality between sexs, races, religions and regions in all spheres of our operation without any discriminatory treatment.

•

Square strives for an environment free from pollution and poisoning.

•

Square strives for the achievement of millennium development goals for the human civilization.

11 | Page

2.7 Organogram of Square Pharmaceuticals Ltd. Managing Director

Vice-Chairman

Chairman

Board of Director Executive Secretary Executive Director (Admin)

Executive Director (Operation)

Director (Account & finance)

Director (Marketing & Sales)

GM (Supply Chain)

GM (HR)

DGM

DGM

DGM (IMD)

DGM (PMD)

AGM

AGM

AGM

AGM

GM (sales)

GM (marketing)

AGM Depo

AGM

NSM Sr. Manager

Sr. Manager (GSD)

Sr. Manager

Sr. Manager MRPC

Sr. Manager

Manager (regulatory)

Manager

Manager

Manager

Sr. Executive

Sr. Executive

Sr. Executive

Sr. Executive

TM

Executive

Executive

Executive

Executive

SMPO

Sr. Manager (Training)

Sr. Manager (Accounts)

Sr. Manager (Finance)

Sr. Manager

Sr. Manager

Manager

Manager

Manager

Manager

Manager

Manager

Sr. Executive

Sr. Executive

Sr. Executive

Sr. Executive

Sr. Executive

Executive

Executive

Executive

Executive

Executive

RSM

MPO

Source: Primary interview with HR executive of SPL

2.8 CORPORATE GOVERNANCE Corporate Governance involves decision making processes for any corporate body as a going concern for the benefit of all concerned, present and future. These decisions may be categorized as policy & strategic, operational and executing, assets

performance & evaluation and sharing of the accretional

between present & future cohorts.

The involvement of the

entrepreneur in all these areas invokes decision making governance on a continuous basis, extent

the degree of involvement being variable with the

of delegation

of

authority

top

down

and

reporting

for

accountability bottom up of the Management echelon. These aspects of governance Management,

are

shared

operational

by

the

Board

participants

of

Directors,

and workers

and

Executive others

in

fulfillment of the common goals that converge in increasing the benefits of all stakeholders. To this end entire corporate governance efforts are blended with acceptable

"good

governance

standards

under

practices" a

given

as

ethically

and morally

socio politico environmental

phenomenon of our society in which we work, live and exist. The organisms through which the corporate governance functions are carried out are: Board Of Directors : a) Constitution. The Board of Directors, the top Management echelon, consisting

of

the

Independent Director,

founding

entrepreneurs/successors and an

provides the policy and strategic support and

direction for the entire range of the corporate activities. The Board of Directors consist of nine (9) members including the Independent Director with varied education and experience which provides a balancing character in decision making process. The Board is re-constituted every year at each Annual General Meeting when one-third of the members retire and seek re-election.

A director is liable to be removed if the

13 | Page

conditions of the Articles of Association and the provisions of the Companies Act 1994 are not fulfilled. b) Role & Responsibilities. The main role of the Board of Directors, which is the highest level of authority,

is to provide general

superintendence,

oversee the operations and control the affairs of

the

through

company

appropriate delegation and accountability

processes via the lines of command. However the Board of Directors hold the ultimate responsibility & accountability with due delligence for conducting the activities of the company as per provisions of law in the interest of the shareholders, the stakeholders, the state and the society. The Board of Directors,

in fulfillment of its responsibility hold

periodic meetings, at least once a quarter and provide appropriate decisions/directions to the Executive Management.

Such meetings

usually consider operational performance, financial results, review of budgets,

capital

projects/divisions/product

expenditure proposals lines,

for BMRE or new

procurement of

funds by

issue of

shares or borrowing, procurement of raw materials, plant & machinery, pricing of products/discounts,

recruitment,

training and promotion of

officers, approval of audited accounts and distribution of dividends and other interest of the stakeholders including the employees and workers. The Board of Directors take special care in designing and articulating productivity and compensation plans of employees and workers and rewarding them appropriately on the basis of quality and quantity of performance as an incentive.

Board also

remains

responsible

for

removal of operational hazards to life and health of workers, friendly environmental work condition and social relationship as demanded of good citizen in a country. c) Relationship with Shareholders & Public. The

shareholders

as

owners, are required to be provided with material information on the company's operation half-yearly and annually,

the latter at the AGM.

They are also provided routine services by the Company Secretary in matters of transfer of shares,

replacement in case of loss or

damage of shares, payment of dividends etc. The Board is however 14 | Page

responsible

to

the

public

for

publication

information as per SEC regulation.

of

any

price sensitive

A qualified Chartered Secretary

is in charge for all these responsibilities as Company Secretary. d) Relationship with Government. In its role on accountability to the government,

the Board of Directors ensure payment of all dues to

government in the form of import duty, custom duty and port charges, VAT, Corporate Taxes and other levies as and when they become due on the basis of actual operations and make sure to avoid corruption. This has enabled the company to enhance its contribution to the National Exchequer on a progressive rate year after year. e) Relationship with Financers/Bankers. The

Board

oversees

the

financial transactions and ensures to meet company's commitments to the lenders without default. This has resulted in securing lower interest rates from them. f) Relationship with Suppliers. As the company has to import plant and machinery and almost all the raw materials from abroad,

it

maintains cordial and mutually beneficial interest with its international as well as local suppliers. This has enabled the company to avoid any legal

disputes

in

international/local

courts

and

enhanced

the

company's image as a good customer. g) Corporate Social Responsibilities (CSR). The Board of Directors is also awoken of the Corporate Social Responsibilities (CSR) especially in the areas of gender equality, race-religion-regional equality, non-employment of child labor, human rights, environmental pollution, social-marketing, social activities (promotion of sports & culture, health care and population control programs, elimination of corruption programs, participation in charitable activities etc.

in non-partisan manner) right to form and

participate in Union under ILO convention, employment of disableds etc.

15 | Page

2.9 THE EXECUTIVE MANAGEMENT The Executive Management is led by the Managing Director (CEO) who is

appointed

by

the

Board

of Directors

for

a

term

of

5

years

(renewable) with the approval of shareholders in the Annual General Meeting.

The Managing Director

is

supported

by

professional,

well

educated, trained and experienced team consisting of Executive Directors, Directors, General Managers and a host of Senior Executives in the hierarchy of management.

The Board has approved an organogram with modern

features ensuring clear lines of delegation of authority and reporting for accountability for effective decision making evaluation of performance on merit

for

both

rewarding

and

disciplinary

action.

The

Executive

Management is responsible for preparation of budgetary segment plans/subsegment plans for every cost/profit centers and are held accountable for performance

therefore.

The

Executive

Management

is

aided

by

committee(s)/sub-committee(s) in carrying out its functions.

2.10 DIVIDEND POLICY Ethics is an ingredient of Good Governance and involves a determination of what is right and what is wrong and deals with things to be sought and things to be avoided with way of life and the end of life. Ethics invokes the management of the environment within which we function from a perspective broader than, but obviously inclusive of, the current cohort. Since the corporate environment is in theory an infinitely lived entity owned by finitely lived shareholders, a governance ethic must represent a system that serves the needs of the current ownership while preserving the ability of the corporation to sustain itself and benefit future cohorts. The corporate ethic must necessarily promote efficiency

in

co-existing with

the

environment to generate the quality of life for a current cohort and yet also provide an equity that does not disadvantage

a

future

cohort by

decisions of a current cohort. As an environmental ethic analogy,

the those

living today naturally believe in dividend payouts today with less regard for the consequence tomorrow and those living tomorrow would prefer

16 | Page

dividend payouts tomorrow without regard for the sacrifices we make today to allow their greater consumption tomorrow. Based on the above concept,

the company is committed to show a

stable policy of distribution (cash outlay) of the accretional wealth (profits) between the current and the future generation of shareholders. This would enable the company to enhance its capital wealth and sustain for perpetuity of existence, benefiting both the present cohorts and the progeny.

2.11 SHAREHOLDERS' RELATIONSHIP Corporate Governance issues include how major policy decisions are made in business corporations, process,

who

is

how various held

stakeholders

accountable

for

can

influence

performance

and

the what

performance standards are applied. In a nutshell power and influence are crucial in corporate governance. As

shareholders belong

to

the most

important stakeholders, ownership structure has an impact on the balance of power among shareholders.

Though sponsors usually hold majority

shares required for ordinary resolutions,

public shareholders have a

definite role and influence in the passing of special resolutions required for changes in the business object,

sale of business/productive assets,

merger and amalgamation, winding up or dissolution and amendments to Memorandum and Articles of Association for protection of minority interest up to 49.9% of the shareholdings. The position of shareholders as on 31-032008 indicates that the sponsors of the company do not hold the required shareholdings (75%) for passing special resolutions.

This allows the

public shareholders (individuals & institutions) to play an effective role in protecting their legal corporate rights. The Company holds regularly as per law the Annual General Meeting with adequate notice and disclosures in the Directors' Report and the Auditors' Report on Accounts/Notes and resolutions are passed with consensus and unanimity. All reasonable and practicable suggestions are

17 | Page

implemented with good grace. Special Resolutions are passed in General Meeting with due notices. All

enquiries

are

attended

by

the

Company

Secretary.

Where

necessary,

Internal Audit Committee investigates matters of significant

merit

consideration

for

by

the

Management

Committee/Managing

Director/Audit Committee of Board/Board of Directors as the case may be.

2.12 CORPORATE SOCIALIZATION In order to play a model role for Good Governance characteristics in the corporate sector, chamber

the company has become members of country's leading

- Metropolitan Chamber of Commerce &

Industries (MCCI),

Bangladesh Association of Publicly Listed Companies (BAPLC), Central Depository Bangladesh Limited (CDBL),

Dhaka Stock Exchange Ltd.

(DSE) and Chittagong Stock Exchange Ltd. (CSE). These memberships have provided scope to the company for improvement of Governance Practices for the benefit of the shareholders /stakeholders.

2.13 RESEARCH AND NEW PRODUCTS DEVELOPMENT As a part of Corporate Social Responsibility for Good Governance the company maintains a team of scientific pharmaceutical experts who continuously conduct research & development programs for improving quality of products, reduction of cost, adaptation of products that are free of intellectual property rights and innovative products. These efforts have enabled the company to add new products to its product lines every year to the benefit of the common men of the country and the shareholders. The success in this field has secured the leading position for the company in the pharmaceutical sector.

18 | Page

2.14 PRESENT FINANCIAL POSITION Capital Resources

Table: 2.1

ASSETS 31-03-08

31-03-07

Non-Current Assets: Property, Plant and Equipment-Carrying Value Capital Work-in-Progress Investment - Long Term (at Cost)

8,291,290,984 4,088,432,171 591,114,649 3,611,744,164

6,804,429,292 3,531,003,509 481,239,419 2,792,186,364

Current Assets: Inventories Trade Debtors Advances, Deposits and Prepayments Investment in Marketable Securities (at Cost) Short Term Loan Cash and Cash Equivalents

4,411,836,436 2,026,736,322 360,245,646 288,806,440 20,250,000 1,510,502,334 205,295,694

3,682,510,712 1,544,191,798 322,864,637 236,455,395 20,250,000 1,418,893,703 139,855,179

12,703,127,420

10,486,940,004

TOTAL ASSETS

Sources: Annual report 2008, SPL

Corporate operational results

Table: 2.2 (figure in thousand)

2007-08

2006-07

2005-06

2004-05

2003-04

Turnover (Gross) Value Added Tax Turnover (Net) Gross Profit Net Profit before Tax Net Profit after Tax Shareholders' Equity Total Assets Total Bank Borrowings Total Current Assets Total Current Liabilities

9,565,716 1,307,872 8,257,844 3,401,782 1,868,634 1,381,863 8,417,041 12,703,127 3,569,280 4,411,836 3,500,845

8,711,035 1,210,223 7,500,811 3,232,364 1,722,906 1,303,243 7,333,258 10,486,940 2,536,524 3,682,511 2,555,566

7,085,553 995,648 6,089,905 2,564,503 1,533,043 1,165,865 6,402,015 9,298,987 2,334,925 4,031,685 2,260,755

6,199,135 867,088 5,332,047 2,172,593 1,513,019 1,255,848 5,568,790 7,907,933 1,902,331 3,242,502 1,949,949

5,482,088 760,536 4,721,552 1,906,592 1,151,636 970,044 4,590,142 6,021,497 988,611 2,016,056 1,250,676

Current Ratio No. of Share Outstanding Dividend per Share (Cash) Dividend per Share (Stock) Shareholders' Equity per Share EPS at original capital at IPO Earning per Share (SPL) Earning per Share (Consolidated) Quoted Price per Share - DSE Quoted Price per Share - CSE Price Earning Ratio-DSE (Time) Number of Shareholders Human Resources: Executives Staff Workers

1.26 8,942,400 40 35% 941 690.93 154.53 170.28 4,110 4,107 26.60 31,688

1.44 5,961,600 50 50% 820 651.62 145.74 163.06 2,447 2,462 16.79 13,009

1.78 4,968,000 75 20% 716 582.93 130.37 151.47 2,276 2,289 17.46 13,206

1.66 4,320,000 77 15% 623 627.92 140.44 146.64 3,768 3,766 26.83 10,486

1.61 3,600,000 70 20% 513 485.02 108.48 112.70 2,272 2,316 20.94 9,270

1,525 1,110 929

1,242 913 846

1,143 796 764

949 740 705

895 686 661

Sources: Annual report 2008, SPL

19 | Page

2.15 HUMAN RESOURCES Executives Staff Workers

2007-08

2006-07

2005-06

2004-05

2003-04

1,525 1,110 929

1,242 913 846

1,143 796 764

949 740 705

895 686 661

Table: 2.3

Sources: Annual report 2008, SPL

All manufacturing units are staffed with adequate number of Professionals related to Pharmaceutical sciences in accordance with WHO guidelines in order to produce good quality, safe and effective drugs and pharmaceuticals. Adequate number of other supporting trained and skilled technical personnel is employed for smooth functioning of the manufacturing plant. SPL has a dedicated team of adequate professionals for smooth functioning of the company. It has a team of more than 300 well-trained employees to market it’s product countrywide which is second to none. Square strives for best compensation to all the employees who constitute the back-bone of the management and operational strength of the

company

through a pay-package composing salary/wages,

bonuses,

allowances,

profit participation, leave salary and superannuation & retirement benefits. In order to improve productivity of human input, the company continuously provide formal and informal training to the employees at every echelon of operation

and management. During the

year under 2008 2247 person

received in-house or in-operation/on the job training at home and abroad which will ultimately make great contribution to the company's profitability as well their own remuneration in due course.

20 | Page

2.16 TECHNOLOGICAL UPGRADATION The company is endeavoring to upgrade and adopt new technology in production, quality control, to patients.

During the

distribution and administration of its products year (2007-2008) the

company invested

an

amount of Tk. 36,424,234 in improving its Laboratory.

2.17 R&D ACTIVITIES A team of scientific pharmaceutical experts who continuously conduct research & development programs for improving quality of products, reduction of cost,

adaptation of products that are free of intellectual

property rights and innovative products.

These efforts have enabled the

company to add new products to its product lines every year to the benefit of the common men of the country and the shareholders. The success in this field has secured the leading position for the company in the pharmaceutical sector.

2.18 BUSINESS PORTFOLIO Subsidiary Operation Square Spinnings Ltd.

Long-term investment Square Textiles Ltd.

Square Cephalosporins Ltd. United Hospital Ltd. Square Biotechs Ltd.

Investment In Marketable Securities Shares Pioneer Insurance Company

National Housing Finance and Investment Ltd. Central Depository Bangladesh Ltd. Square Hospitals Ltd. Square Knit Fabrics Ltd. Square Fashions Ltd. Square InformatiX Ltd

2.19 DISTRIBUTION CHANNEL SPL has the strongest distribution network for smoothing distribution of medicines to all parts of the country. Currently it has 15 depots all over the

21 | Page

country. Those are situated at Dhaka, Pabna, Bogra, Rangpur, Khulna, Barisal, Comilla, Mymensingh, Chittagong, Noakhali, Sylhet, Tangail, Rajshahi, Faridpur and Naryanganj. It uses own transport system to deliver its product to the stockist and retailer.

2.20 MANUFACTURING FACILITIES a. Dhaka unit This is a state of the art manufacturing facility for oral solid dosage forms and all facilities have been developed meeting the requirements of cGMP CFR 21. Dhaka Unit started its operation at the end of 2002. In the year 2002, the representative of UNICEF, Copenhagen, audited Dhaka Unit facility and enlisted this plant for their global supply. Besides UNICEF audit, in 2003, David Begg Associates, an UK based consulting company also audited this facility and recognized that this plant fulfills the requirement of MHRA. b. Pabna Unit Pabna Unit is the first manufacturing facility of SQUARE Pharmaceuticals Ltd. and started operation in 1958. It is a modern plant that fully complies with WHO – cGMP Requirements. It has earned ISO 9001 Certificate in 1998, for which Auditor was Orion Registrar Inc., USA. Again, it’s Quality Management System upgraded to 2000 version in 2002. c. Pesticide unit Pesticide Unit is a newly formed unit dedicated to the diversification of agro business through agricultural chemicals and public health insecticides. The main operations include repacking, selling and marketing of insecticides, fungicides, and herbicides of Chimac-Agriphar s.a., Belgium and FMC Corporation, USA. d. Cephalosporins Unit Dedicated and state-of-the-art Cephalosporins Manufacturing Facility is built as per the requirement of International GMP standard like EMEA, UK MHRA

22 | Page

and US FDA. This world class facility manufactures Cephalosporin antibiotics in Tablets, Capsules, Dry Syrup and Injectable preparations.

2.21 RAW MATERIAL MANUFACTURING • Pet Bottle Unit: First integrated machine of its kind in pharmaceuticals

industry of Bangladesh. Operation started from 2004. Production capacity/hour is 5000 pcs. • API Unit. Pharmaceutical Bulk Manufacturing Plant. It is presently the

largest quality-bulk drugs manufacturer in the country producing international standard bulk pharmaceuticals to satisfy more than hundred pharmaceutical companies throughout the country. API product range(1) Amoxycillin Trihydrate (Compacted) BP/USP (2) Amoxycillin Trihydrate (Micronised) BP/USP (3) Cloxacillin Sodium (Compacted) BP/USP (4) Cloxacillin Sodium (Micronised) BP/USP (5) Paracetamol BP/USP (6) Diclofenac Sodium BP/USP (7) Diclofenac Di Ethyl Amine BP (8) Diclofenac Potassium BP (9) Diclofenac INN (Free Acid) (10) Flucloxacillin Sodium (Compacted) BP (11) Flucloxacillin Sodium (Micronised) BP

23 | Page

2.22 PRESENT MARKET POSITION Top 10 Manufacturers in Bangladesh by sales - 2007 Company name Square Beximco Incepta Acme Eskayef Drug Int. Aristopharma Sanofi-Aventis ACI Renate

Sales USD mn Share (%) 106.5 18.03 54.3 9.91 43.5 7.37 31.9 5.4 26.8 4.54 23.1 3.91 22.9 3.88 22.4 3.8 22.4 3.79 21.5 3.63

Table: 2.4

Source: IMS Report,4th Quarter - 2007

Fig: 2.1 Top 10 market player by market share 20

Square

18 16 14 12 10 8

market share

6 4

Beximco

2

Incepta

0

Acme Drug Int. Sanofi-Aventis

Eskayef

0

1

2

3

4

5

6

7

8

9

Aristopharma

10

Renata

ACI

11

Market standing

Source: IMS Report,4th Quarter - 2007

24 | Page

2.23 EXPORT The company is continuously pressing hard for expanding it's export sales. During the year under review, the exports amounted to Tk. 212.49 million as against Tk. 192.95 million in previous year, a 10.13% increase. The exports are expected to rise in the forthcoming years so far. As the Company has secured license under UK MHRA, it is expected that the export potential will increase substantially in the near future. It may be mentioned that the company has, for the first time, exported basic chemicals for over Tk. 2 million during the year. The company is making entry into foreign markets and making efforts in registering its products in USA/EU countries for which is has already set up a modern state-of-art production facilities at Kaliakoir, Gazipur. The company has already secured permission for marketing its products in UK/EU countries.

Present export market covers: Myanmar Nepal Libya Mauritius Tanzania Sri Lanka Afghanistan Ukraine Iraq Benin Cambodia Comoros Mozambique Gambia Papua New Sierra Leone Guinea

Kosovo Malawi Somalia Uzbekistan Botswana Island Niger Macau countries

Table: 2.5

Kenya Yemen Vietnam Ghana Bhutan Tajikistan Rwanda

Source: Annual report 2008, SPL

2.24 VALUE PROPOSITION SPL has presently been offering it’s products to its market segment with the value proposition “Utmost quality, Excellent efficacy”.

2.25 VALUE CREATION ACTIVITIES Discovery

Development

Register

Mfg.

M&S

SPL Fig: 2.2

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2.26 REVENUE MODEL Total revenues are highly dependant on sales from a small number of drugs. Because, In the pharmaceutical industry, the pharmaceuticals products are divide in to two broad categories: (a) OTCcommercialized

(b). POM-

Can be advertised of

Strictly regulated in terms of pricing and

approaches. SPL strives to increase the sale of those POM drugs.

2.27 Comparison between domestic and export sales a) Revenue from domestic sales b) Revenue from export

9353.22 212.49

Total

9,565.71

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Chapter 3

Market Expansion Strategy of Square Pharmaceuticals Ltd.

27 | Page

3

Market Expansion Strategy of SPL

3.1 MARKETING MIX Before going into deeper, we should define the present marketing mix of SPL which is figured out in the following model:

Product

Price

(medicine)

(all most regulated)

Target customers (doctors & physicians)

Promotion

Place

(personal selling through relationship)

(domestic & foreign)

Fig: 3.1

a) Market Segments.. The main basis of segmenting market in Bangladesh is therapeutic drug i.e. NASAL DROPS, ANTIBIOTIC etc. Presently SPL has the largest product portfolio to serve as many segments as possible. It consistently strives to make it larger. Its present segments are identified in the product table. b) Target Customers.. Rather than the consumer of the medicine, the key customers for SPL has been the physician. Physicians are considered here as opinion leader. The major innovative drugs can not be purchased without a prescription provided by a doctor. SPL’s main selling task has been directed, therefore, not at the user, but at physicians.

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Doctors and physicians are segmented on the basis of its therapeutic drug segment. As for example, NASAL DROPS products are communicated at E.N.T specialists. Therefore, if SPL has NASAL DROPS product line, then E.N.T. specialists are treated its target customers. Besides this, general physicians are also it’s target customers. c) Value Proposition.. SPL has presently been offering it’s products to its market segment with the value proposition “Utmost quality, Excellent efficacy”.

d) Product.. SPL develops, produces, and markets drugs of different therapeutic groups licensed for use as medications. The Bangladeshi Pharmaceutical Market is primarily a generic market producing both patented and off-patented products. This is popularly known as Branded Generic Market since any manufacturer can produce the same molecule (either patented or off-patented) and market it in different brand names. SPL is not beyond this scenario. It produces off-patented molecule and market it in it’s own brand. The product list according to generic segment can be found in appendix part. e) Price.. Drug pricing is heavily dependent on the National Drug Policy adopted by Directorate of Drug Administration of Bangladesh Govt. Governments

agencies

act

as

a

countervailing

power

in

pricing

pharmaceuticals. As per the NDA 2005, regulatory authority pursuing “Rational pricing” of drugs to ensure essential drugs available to the end-users at affordable prices. On the basis of that policy, SPL has been pursuing two different kinds of pricing policya. For OTC product, all most similar price as the competitors’. b. For POM product, competitive pricing.

29 | Page

There are also few exceptions. If SPL introduces a product first in the market, it charges little bit higher price than it’s competitors, but within the rules and regulations of Drug Administration.

f) Place.. SPL has the strongest domestic distribution network for smoothing distribution of medicines to all parts of the country. Currently it has 15 depots all over the country. Those are situated at Dhaka, Pabna, Bogra, Rangpur, Khulna, Barisal, Comilla, Mymensingh, Chittagong, Noakhali, Sylhet, Tangail, Rajshahi, Faridpur and Naryanganj. It uses own transport system to deliver its product to the stockist and retailer. SPL also exports its products to 31 countries. Present export market covers: Myanmar Nepal Libya Mauritius Tanzania Sri Lanka Afghanistan Ukraine Iraq Benin Cambodia Comoros Mozambique Gambia Papua New Sierra Leone Guinea

Table: 3.1

Kosovo Malawi Somalia Uzbekistan Botswana Island Niger Macau countries

Kenya Yemen Vietnam Ghana Bhutan Tajikistan Rwanda

Source: Annual report 2008, SPL

g) Promotion.. Public advertisement for medicine, specially POM drug is strictly prohibited in Bangladesh. But it may be done for OTC medicine to some extent. However, no pharma company in Bangladesh is engaged in such advertisement. SPL heavily depends on personal selling through rapport building and maintaining. A team of sales representatives, called MPO

have been

employed to meet with physicians to explain the merits, demerits, indication, contraindications, etc. of the medicine with the help of literature, brochure, pad, booklet, leaflet, gift item etc. That is, the Medical Promotion Officers promote the companies product to doctors front with the help of different

30 | Page

promotional materials. If a new drug is to be more expensive, then it needs to demonstrate that its superior performance is worth it. Its promotional activities can be illustrated as follows: Core customer (doctor) End customer (patient)

Relation development literature, brochure, pad, booklet, leaflet, gift item etc

Marketing & Sales Team

Non-core customer (retailer) Customer (stockist)

Fig: 3.2

Customer (C&F)

3.2 CONSISTENT UPGRADATION SPL’s another strategy is upgrading and adopting new technology for it’s manufacturing plants consistently so that it can produce quality product with comparatively lower cost.

3.3 EXPORT This is an important market expansion strategy of SPL. Because the past fifty years have seen a dramatic lowering of barriers to cross-border trade and investment, For example, the average tariff rate on manufactured goods traded between advanced nations has fallen from around 40 percent to under 4 percent.

Similarly, in nation after nation, regulations prohibiting foreign

companies from entering domestic markets and establishing production facilities, or acquiring domestic companies, have been removed.

31 | Page

3.4 LOW MANUFACTURING COST THROUGH VERTICAL INTEGRATION To expand it’s market with low cost products, SPL’s strategy is to integrate itself more vertically so that it can get the raw materials cheaply. It has its own API manufacturing facilities and more API factory is being established.

3.5 PRODUCT MARKET GROWTH MATRIX STRATEGY OF SPL On the basis of the above discussion, we can conceptualize the market expansion strategies of SPL through the following figure:

New

Present

Market penetration

Product development

New

Markets

Products Present

Market development

Diversification

Fig: 3.3

32 | Page

Chapter 4

Marketing Problems of SPL

33 | Page

4

Marketing Problems of SPL After analyzing its present market expansion strategies, the following problems have been found in it: 1.

It seems that SPL pursuing “prescription for profit”

strategy for

market penetration. It is partially good, but may not be perfect as the completion is very hard. There are some other parties who has the scope and ability to act as “opinion leader” and to motivate the buyer. These potential “opinion leaders” are remaining unexploited. SPL has enough resources to let them add value to the company. 2.

I didn’t find SPL adopting any strategy to create brand loyalty. But client is more profitable than customer in terms of both transaction as well as positive word-of-mouth communication. He himself can be an opinion leader.

3.

Holding the heaviest product portfolio should not be the ultimate goal at all.

Emphasis must be given on how early a new product can be

launched in the market place than the competitor. 4.

At present, SPL gets only 20% raw materials from its API plant and the rest are to be imported. It increases product cost.

5.

Market should not be segmented only on the therapeutic drug basis.

6.

Pharmaceutical value chain is a bit different from traditional value as it includes an additional step in the start “Discovery”. This step is a vital strength of any pharmaceutical company. SPL lacks this component in its value chain.

34 | Page

Chapter 5

Recommendations

35 | Page

5

Recommendations 5.1 NEW CATEGORY OPINION LEADER Doctors are the only opinion leader in SPL’s present strategy. It may be partially good, but can not be perfect as the completion becomes more intense day by day. There are some other parties who has the scope and ability to act as “opinion leader” and to motivate the buyer. These potential “opinion leaders” are remaining unexploited. SPL has enough resources to let them add value to the company. Hereby I am proposing a hypothetical model to correct this strategyCustomer (stockist)

Profit

Marketing & Sales Team

Fig: 5.1

sharing

Non-core customer (retailer)

Core customer (doctor)

End customer (patient) In this model, Retailers have been selected as new opinion leader, besides the doctors & physicians. In return, they will enjoy above average profit margin by selling SQUARE product.

36 | Page

5.2 CUSTOMER ONCE, CLIENT FOR EVER Client is more profitable than customer in terms of both transaction as well as positive word-of-mouth communication. He himself can be an opinion leader. So, I am suggesting to adopt some programs that will let its customers be transformed into clients. The following model would better describe this concept:

Customer (stockist)

Non-core customer (retailer)

Marketing & Sales Team

Core customer (doctor)

End customer (patient)

Brand awareness

Fig: 5.2

SPL has a strong brand image in pharmaceutical industry. It will facilitate this strategy. I am citing some instances here which may be useful for this strategy: a. Mobile Hospital service with free treatment and medicine. b. Health awareness program in rural area. c. Modernization of educational institute or public hospital etc.

5.3 TODAY’S PLANT, TOMORROW’S TREE Those who are student of MBBS today, tomorrow they will become doctor. Therefore, SPL may approach them to establish and maintain a long-term rapport. 37 | Page

5.4 WHAT I HAVE TODAY, OTHER WILL HAVE TOMORROW SPL is always striving to maintain the highest product portfolio among the competitors for its product development strategy. Holding the heaviest product folio should not be the ultimate goal at all. Emphasis must be given on how early a new product can be launched in the market place than the competitor.

5.5 KEEP PACE WITH THE RACE Today’s world is changing very rapidly, in every sphere. Therefore, updating production plant alone is not enough to cope with the new environment. SPL has to have a keen eye if there is any change in HR development, transport, information technology, consumer relation management, medical science and so on.

5.6 INTEGRATE GREATLY SPL imports 80% raw materials of its total requirements. This is an weakness if it wants to consistently expand its market. So it require either more API plants or increase in present production capacity.

5.7 DISCOVER THE UNDISCOVERED Pharmaceutical value chain is a bit different from traditional value as it includes an additional step “Discovery”. in the start This step is a vital strength of any pharmaceutical company. SPL lacks this component in its value chain.

Discovery

Development

Register

Mfg.

M&S

SPL Fig: 5.3

38 | Page

5.8 ACT LOCALLY, THINK GLOBALLY As the Company has secured license under UK MHRA, it has created a tremendous opportunity for SPL to expand globally. Not only that, in nation after nation, regulations prohibiting foreign companies from entering domestic markets and establishing production facilities, or acquiring domestic companies, have been removed. As a result of these two developments, there has been a surge in both the volume of international trade and the value of foreign direct investment. Between 1950 and 2000, the volume of world trade increased more than twenty-fold. So, SPL must grab this opportunity.

5.9 INNOVATION IS THE DESTINATION Pharma is on the brink of a scientific and technological revolution that will ultimately transform both the nature of the medicines it makes and how it makes them. In future, then, Pharma will not only make the white powders, creams and tablets it has traditionally produced, it will manufacture a complete mix of biopharmaceuticals, parenterals and diagnostics. Making targeted treatment solutions will generate greater revenues than conventional drugs and offset the increasing competition from generic producers. But it will also require the restructuring of the entire pharmaceutical value chain, including the fixed asset base and downstream distribution.

5.10 SEGMENT THE CURRENT MARKET SEGMENT SPL is in need of more segmentation tools in an ongoing effort to establish close and sustainable relationships with customers.

39 | Page

Chapter 6

Conclusion

40 | Page

6

Conclusion

The purpose of this paper has been to analyze the market expansion activities of Square Pharmaceuticals Ltd. SPL is a very big business organization. Therefore, its very difficult on my part to analyze its each and every strategy precisely in this small study. There can be various ways through which a business organization can achieve success in the market, After scanning its external & internal environment and considering all alternatives, I have tried my level best to sort out the best way as per my thinking ability for SPL to run ahead. But finally I can say this much that it has a large potential both in the short and long run due to its sound distinctive competencies .

41 | Page

Bibliography

⇒ Philip Kotler & Gary Armstrong, 10th Edition, Principles of Marketing, Pearson Education International, New Jersey, USA. ⇒ Annual Reports of Square Pharmaceuticals Ltd. ⇒ www.squarepharma.com.bd

42 | Page

Appendix Product Portfolio of SPL SL No.

Brand name

Generic name

Strength

Market segment: ANTIBIOTIC AND ANTIMICROBIAL 1

Anca 500 Tablet

Cefprozil

500 mg

2 3

Anca 250 Tablet

Cefprozil

250 mg

Anca Suspension

Cefprozil

250 mg / 5 ml

4

Benzapen 1.2 million injection

Benzathine Penicillin

1.2 million/Vial

5

Cef - 3 Capsule

Cefixime

200 mg

6

Cef - 3 DS Capsule

Cefixime

400 mg

7

Cef - 3 Dry Syrup

Cefixime

100 mg / 5 ml

8

Cef - 3 Dry Syrup

Cefixime

100 mg / 5 ml

9

Cef - 3 Dry Syrup

Cefixime

100 mg / 5 ml

10

Cefdir Capsule

Cefdinir

300 mg

11

Cefdir Suspension

Cefdinir

125 mg / 5ml

12

Cefotil 125 Tablet

Cefuroxime Axetil

125 mg

13

Cefotil 250 Tablet

Cefuroxime Axetil

250 mg

14

Cefotil 500 Tablet

Cefuroxime Axetil

500 mg

15

Cefotil Suspension

Cefuroxime Axetil

125 mg / 5ml

16

Cefotil IM/IV Injection

Cefuroxime Sodium

750 mg

17

Cefotil 1.5 Injection

Cefuroxime Sodium

1.5 gm

18

Ceftron 1gm IM / IV Inj.

Ceftriaxone

1 gm

19

Ceftron 2 gm IV inj.

Ceftriaxone

2 gm

20

Ceftron 250 IM / IV Inj.

Ceftriaxone

250 mg

21

Ceftron 500 IM / IV Inj.

Ceftriaxone

500 mg

22

Ceporin 250 Capsule

Cephalexin

250 mg

23

Ceporin 500 Capsule

Cephalexin

500 mg

24

Ceporin Dry Syrup

Cephalexin

125 mg / 5ml

25

Ceporin DT

Cephalexin

250 mg

26

Ciprocin 250 Tablet

Ciprofloxacin

250 mg

27

Ciprocin 500 Tablet

Ciprofloxacin

500 mg

28

Ciprocin 750 Tablet

Ciprofloxacin

750 mg

29

Ciprocin Suspension

Ciprofloxacin

250 mg / 5 ml

30

Ciprocin XR 1000 Tablet

Ciprofloxacin

1000 mg

31

Cotrim Suspension

Sulphamethoxazole+Trimethoprim

(200 mg + 40 mg) / 5 ml

32

Cotrim Tablet

Sulphamethoxazole+Trimethoprim

400 mg + 80 mg

33

Cotrim DS Tablet

Sulphamethoxazole+Trimethoprim

800 mg + 160 mg

34

Doxacil 100 Capsule

Doxycycline HCI

100 mg

35

Emcil Tablet

Pivmecillinam

200 mg

36

Eromycin 250 Tablet

Erythromycin

250 mg

37

Eromycin Dry Syrup

Erythromycin

125 mg / 5 ml

38

Eromycin DS Tablet

Erythromycin

500 mg

39

Eromycin Pediatric Drops

Erythromycin Ethylsuccinate

200 mg / 5 ml

40

Force 1 gm IV Injection

Cefpirome

1 gm

41

Gati 400 Tablet

Gatifloxacin

400 mg

42

Genacyn 20 Injection

Gentamicin

20 mg / 2 ml

43

Genacyn 80 Injection

Gentamicin

80 mg / 2 ml

43 | Page

44

Lebac 1 gm IV Injection

Cephradine

45

Lebac 500 mg Injection

Cephradine

1 gm 500 mg

46

Lebac 250 Capusle

Cephradine

250 mg

47

Lebac 500 Capsule

Cephradine

500 mg

48

Lebac Dry Syrup

Cephradine

125 mg / 5 ml

49

Lebac Pediatric Drops

Cephradine

125 mg / 1.25 ml

50

Lebac Forte Suspension

Cephradine

250 mg / 5 ml

51

Loracef 500 Capusle

Cefaclor

500 mg

52

Loracef Suspension

Cefaclor

125 mg / 5 ml

53

Loracef Pediatric Drops

Cefaclor

125 mg / 1.25 ml

54

Loracef 375 ER Tablets

Cefaclor

375 mg

55

Maxcef 250 mg Injection

Cefotaxime

250 mg

56

Maxcef 500 mg Injection

Cefotaxime

500 mg

57

Maxcef 1 gm Injection

Cefotaxime

1 gm

58

Mexlo 400 Tablet

Lomefloxacin

400 mg

59

Moxacil 250 Capsule

Amoxycillin Trihydrate

250 mg

60

Moxacil 500 Injection

Amoxycillin

500 mg / vial

61

Moxacil 500 Capsule

Amoxycillin Trihydrate

500 mg

62

Moxacil Dry Syrup

Amoxycillin

125 mg / 5 ml

63

Moxacil Forte Suspension

Amoxycillin

250 mg / 5 ml

64

Moxacil DT

Amoxycillin

250 mg

65

Moxacil Pediareic Drops

Amoxycillin

125 mg / 1.25 ml

66

Moxacil 875 Tablet

Amoxycillin Trihydrate

875 mg

67

Moxaclav 375 Tablet

Amoxycillin + Clavulanic acid

250 mg + 125 mg

68

Moxaclav 625 Tablet

Amoxycillin + Clavulanic acid

500 mg + 125 mg

69

Moxaclav Dry Syrup

Amoxycillin + Clavulanic acid

(125 + 31.25) mg / 5 ml

70

Moxaclav Dry Syrup

Amoxycillin + Clavulanic acid

(125 + 31.25) mg / 5 ml

71

Moxaclav Forte Suspension

Amoxycillin + Clavulanic acid

(400 + 57.50) mg / 5 ml

72

Moxaclav 1 gm Tablet

Amoxycillin + Clavulanic acid

875 mg+ 125 mg

73

Nalid 500 Tablet

Nalidixic Acid

500 mg

74

Nalid Dry Syrup

Nalidixic Acid

300 mg / 5 ml

75

Penvik Dry Syrup

Phenoxymethyl Penicillin

125 mg / 5 ml

76

Penvik 250 Tablet

Phenoxymethyl Penicillin

250 mg

77

Penvik DS Tablet

Phenoxymethyl Penicillin

500 mg

78

Penvik Forte Dry Syrup

Phenoxymethyl Penicillin

250 mg / 5 ml

79

Phylopen 250 Capsule

Flucloxacillin

250 mg

80

Phylopen Dry Syrup

Flucloxacillin

125 mg / 5 ml

81

Phylopen Forte Dry Syrup

Flucloxacillin

250 mg / 5 ml

82

Phylopen DS Capsule

Flucloxacillin

500 mg

83

Phylopen 500 Injection

Flucloxacillin

500 mg / vial

84

Remac 500 Tablet

Clarithromycin

500 mg

85

Rutix 200 Tablet

Ofloxacin

200 mg

86

Rutix 400 Tablet

Ofloxacin

400 mg

87

Saga 200 mg Tablet

Sparfloxacin

200 mg

88

Specbac 1 gm IV Injection

Meropenem

1 gm

89

Specbac 500 mg IV Injection

Meropenem

500 mg

90

Tazid 250 mg IM/IV Injection

Ceftazidime

250 mg

91

Tazid 500 mg IM/IV Injection

Ceftazidime

500 mg

92

Tazid 1 gm IM/IV Injection

Ceftazidime

1 gm

93

Tetrax 500 Capsule

Tetracycline HCl

500 mg

94

Trevox 500 Tablet

Levofloxacin

500 mg

95

Trevox 750 Tablet

Levofloxacin

750 mg

44 | Page

96

Trevox Syrup

Levofloxacin

125 mg / 5 ml

97

Vanprox 100 Capsule

Cefpodoxime Proxetile

100 mg

98

Vanprox 200 Capsule

Cefpodoxime Proxetile

200 mg

99

Vanprox Pediatric Drops

Cefpodoxime Proxetile

20 mg / ml

100

Vanprox Dry Syrup

Cefpodoxime Proxetile

40 mg / 5 ml

101

Vanprox Forte Suspension

Cefpodoxime Proxetile USP

80 mg/5ml

102

Zimax 500 Tablet

Azithromycin

500 mg

103

Zimax 250 Capsule

Azithromycin

250 mg

104

Zimax Suspension

Azithromycin

200 mg / 5 ml

105

Zimax Suspension

Azithromycin

200 mg / 5 ml

Market segment: ANALGESIC, ANTIPYRETIC, ANTIRHEUMATIC AND ANTISPASMODIC 1

Ace Pediatric Drops

Paracetamol

80 mg/ml

2

Ace Pediatric Drops

Paracetamol

80 mg/ml

3

Ace suspension

Paracetamol

120mg/5ml

4

Ace Syrup

Paracetamol

120mg/5ml

5

Ace 500 tablet

Paracetamol

500mg

6

Ace 120 DT

Paracetamol

120 mg

7

ACE 60 Suppository

Paracetamol

60 mg

8

ACE 125 Suppository

Paracetamol

125 mg

9

ACE 250 Suppository

Paracetamol

250 mg

10

ACE 500 Suppository

Paracetamol

500 mg

11

Ace Plus Tablet

Paracetamol + Caffeine

500 mg + 65 mg

12

Anadol Capsule

Tramadol HCl

50 mg

13

Anadol Injection

Tramadol HCl

100 mg/2ml

14

Anadol Suppository

Tramadol HCl

100 mg

15

Clofenac 25 tablet

Diclofenac Sodium

25 mg

16

Clofenac 50 tablet

Diclofenac Sodium

50mg

17

Clofenac DT

Diclofenac free acid

46.50mg

18

Clofenac gel

Diclofenac Diethylammonium Salt

10mg/gm

19

Clofenac injection

Diclofenac Sodium

75mg/3ml

20

Clofenac Plus injection

Diclofenac Sodium + Lidocaine

(75mg + 20mg)/2ml

21

Clofenac SR tablet

Diclofenac Sodium

100mg

22

Clofenac 12.5 suppository

Diclofenac Sodium

12.5 mg

23

Clofenac 25 suppository

Diclofenac Sodium

25 mg

24

Clofenac 50 suppository

Diclofenac Sodium

50 mg

25

Colicon Tablet

Dicycloverine

10 mg

26

Colicon Injection

Dicycloverine

20 mg / 2 ml

27

Colicon Syrup

10 mg/5ml

40 mg/2 ml

28

Contilex Tablet

29

Espa tablet

Dicycloverine Glucosamine Sulfate INN + Chondroitin Sulfate INN Drotaverine HCl

30

Espa injection

Drotaverine HCl

250 mg + 200 mg 40 mg

31

Flexi Tablet

Aceclofenac

100 mg

32

Kitex Tablet

Dexketoprofen

25 mg

33

Kop 200 SR Capsule

Ketoprofen

200 mg

34

Kop 50 tablet

Ketoprofen

50 mg

35

Kop 100 SR Capsule

Ketoprofen

200 mg

36

Kop gel

Ketoprofen

25 mg/gm

37

Kop IM injection

Ketoprofen

100mg/2ml

38

Melcam 7.5 Tablet

Meloxicam

7.5 mg

39

Melcam 15 Tablet

Meloxicam

15 mg

45 | Page

40

Miclofenac 50 Tablet

Diclofenac Sodium + Misoprostol

50 mg + 200 mcg

41

Miclofenac 75 Tablet

Diclofenac Sodium + Misoprostol

75 mg + 200 mcg

42

Norvis Tablet

Tiemonium Methylsulphate

50 mg

43

Norvis Injection

Tiemonium Methylsulphate

5 mg / 2 ml

44

Panodin SR Tablet

Etodolac USP

600 mg

45

Penrif 15 Cream

Methylsalicylate + Menthol

15% + 10%

46

Penrif 30 Cream

Methylsalicylate + Menthol

30% + 8%

47

Selecox 100 tablet

Celecoxib

100 mg

48

Selecox 200 tablet

Celecoxib

200 mg

49

Sonap 10% Gel

Naproxen

10%

50

Sonap 250 tablet

Naproxen

250 mg

51

Sonap 500 tablet

Naproxen

500 mg

52

Sonap 500 Suppository

Naproxen

500 mg

53

Tilex 500 Tablet

Glucosamine HCl

500 mg

54

Torax 10 Tablet

Ketorolac Tromethamine

10 mg

55

Torax 10 Injection

Ketorolac Tromethamine

10 mg/ml

56

Torax 30 Injection

Ketorolac Tromethamine

30 mg/ml

57

Torax 60 Injection

Ketorolac Tromethamine

60 mg/ml

58

Tory 60 Tablet

Etoricoxib

60 mg

59

Tory 90 Tablet

Etoricoxib

90 mg

60

Tory 120 Tablet

Etoricoxib

120 mg

61

Xflam 200 tablet

Dex-Ibuprofen INN

200 mg

62

Xflam 300 tablet

Dex-Ibuprofen INN

300 mg

63

Xflam 400 tablet

Dex-Ibuprofen INN

400 mg

64

Xripa tablet

Nefopam HCl INN

30 mg

65

Xripa Injection

Nefopam HCl INN

20 mg/ml

66

Xtra 10 tablet

Valdecoxib

10 mg

67

Xtra 20 tablet

Valdecoxib

20 mg

67

Timotor tablet

Trimebutine Maleate INN

100 mg

Market segment: GASTROPROKINETIC AND ANTIEMETIC 1

Motigut Suspension

Domperidone

5mg/5ml

2

Motigut Tablet

Domperidone

10 mg

3

Motigut Paediatric Drops

Domperidone

5mg/ml

4

Motifast Tablet

Domperidone

5 mg

5

Naurif 1 mg Tablet

Granisetron

1 mg

6

Naurif 1 mg Injection

Granisetron

1 mg / ml

7

Vertina Chewable Tablet

Meclizine

50 mg

Simethicone

67 mg/ml

Market segment: ANTIFLATULENT PLAIN 1

Flacol Paediatric Drops

Market segment: ANTIALLERGIC AND ANTIHISTAMINE 1

Alatrol syrup

Cetirizine Hydrochloride

5mg/5ml

2

Alatrol tablet

Cetirizine Hydrochloride

10mg 2.5 mg/ml

3

Alatrol Paediatric Drops

Cetirizine Hydrochloride

4

Alarid Tablet

Ketotifen Fumerate

1 mg

5

Alarid Syrup

Ketotifen Fumerate

1 mg / 5 ml

6

Adryl Syrup

Diphenhydramine HCl

10 mg/5ml

7

Antista syrup

Chlorpheniramine Maleate

2 mg / 5 ml

8

Fexo 60 tablet

Fexofenadine HCl

60 mg

46 | Page

9

Fexo 120 tablet

Fexofenadine HCl

120 mg

10

Fexo 180 tablet

Fexofenadine HCl

180 mg

11

Loratin tablet

10 mg

12

Loratin Plus Tablet

13

Loratin suspension

Loratadine Loratadine+Pseudoephedrine sulphate Loratadine

5 mg/5ml

14

Loratin FT

Loratadine

10 mg

15

Sedno tablet

Desloratadine

5 mg

16

Sedno syrup

Desloratadine

2.50 mg / 5 ml

10 mg+ 240 mg

Market segment: CARDIOVASCULAR, ANTIHYPERTENSIVE, LIPID MODIFIER, ANTIPLATELET 1

Angilock 25 tablet

Losartan Potassium

25 mg

2

Angilock 50 tablet

Losartan Potassium

50 mg

3

Angilock 100 tablet

100 mg

4

Angilock 50 Plus Tablet

5

Angilock 100 Plus Tablet

Losartan Potassium Losartan Potassium + Hydrochlorothiazide Losartan Potassium + Hydrochlorothiazide

6

Angilock plus 100/12.5 tablet

Losartan Potassium + Hydrochlorothiazide

100 mg + 12.5 mg

7

Anzitor 10 tablet

Atorvastatin

10 mg

8

Anzitor 20 tablet

Atorvastatin

20 mg

50 mg + 12.5 mg 100 mg + 25 mg

9

Anclog Tablet

Clopidogrel

75 mg

10

Anclog Plus Tablet

Clopdrogrel + Aspirin

75 mg + 75 mg

11

Anril 0.5 Tablet

Nitroglycerin

0.5 mg

12

Anril Spray

Nitroglycerin USP

400 mcg/spray

13

Anril SR Tablet

Nitroglycerin

2.6 mg

14

ARB-8 tablet

Candesartan Cilexetil

8 mg

15

Camlodin 5 tablet

Amlodipine

5 mg

16

Camlodin 10 tablet

Amlodipine

10 mg

17

Camlodin Plus 25 Tablet

Amlodipine + Atenolol

5 mg + 25 mg

18

Camlodin Plus 50 Tablet

Amlodipine + Atenolol

5 mg + 50 mg

19

Camlopril 2.5/10 Capsule

Amlodipine Besylate + Benazepril

2.5 mg + 10 mg

20

Camlopril 5/10 Capsule

Amlodipine Besylate + Benazepril

5 mg + 10 mg

21

Camlopril 5/20 Capsule

Amlodipine Besylate + Benazepril

5 mg + 20 mg

22

Camlopril 10/20 Capsule

Amlodipine Besylate + Benazepril

10 mg + 20 mg

23

Cardipro 50 tablet

Atenolol

50mg

24

Cardipro 100 tablet

Atenolol

100mg

25

Cardipro 50 Plus Tablet

Atenolol + Chlorthalidone

50 mg + 25 mg

26

Cardipro 100 Plus Tablet

Atenolol + Chlorthalidone

100 mg + 25 mg

27

Carva 75 Tablet

Aspirin

75 mg

28

Cerevas tablet

Vinpocetine INN

5 mg

29

Cinaron tablet

Cinnarizine

15mg

30

Cholinor tablet

Ezetimibe

10 mg

31

Delipid capsule

Gemfibrozil

300mg

32

Diltizem SR 90 tablet

Diltiazem HCl

90mg

33

Durol 6.25 tablet

Carvedilol

6.25 mg

34

Durol 12.5 tablet

Carvedilol

12.5 mg

35

Durol 25 tablet

Carvedilol

25 mg

36

Esmo tablet

Isosorbide Mononitrate

20mg

47 | Page

37

Esmo LA capsule

Isosorbide Mononitrate

50 mg

38

Freflo Tablet

Frusemide + Spironolactone

20 mg + 50 mg

39

Esordin Tablet

Isosorbide Dinitrate

10 mg

40

Fusid injection

Frusemide

20mg/amp

41

Fusid tablet

Frusemide

40mg

42

Fusid 40 Plus Tablet

Frusemide + Spironolactone

40mg + 50 mg

43

Nidipine tablet

Nifedipine

10mg

44

Nidipine SR tablet

Nifedipine

20mg

45

Nimocal Tablet

Nimodipine

30 mg

46

Oxyfyl CR Tablet

Pentoxifylline

400 mg

47

Levocar Solution

Levocarnitine

500 mg / 5 ml

48

Levocar Tablet

Levocarnitine

330 mg

49

Lipired 200 Capsule

Fenofibrate

200 mg

50

Osiden Injection

Adenosine

6 mg/2ml

51

Repres 1.5 SR Tablet

Indapamide

1.5 mg Sustained Release

52

Repres Plus 2 tablet

Indapamide + Perindopril

0.625 mg + 2 mg

53

Repres Plus 4 tablet

Indapamide + Perindopril

1.25 mg + 4 mg

54

Ripril 1.25 Capsule

Ramipril

1.25 mg

55

Ripril 2.5 Capsule

Ramipril

2.5 mg

56

Ripril 5 Capsule

Ramipril

5 mg

57

Ripril 10 Capsule

Ramipril

10 mg

58

Ripril 1.25 Tablet

Ramipril

1.25 mg

59

Ripril 2.5 Tablet

Ramipril

2.5 mg

60

Ripril 5 Tablet

Ramipril

5 mg

61

Ripril plus 2.5/12.5 tablet

Ramipril BP + Hydrochlorthiazide BP

2.5 mg + 12.5 mg

62

Ripril plus 5/25 tablet

Ramipril BP + Hydrochlorthiazide BP

5 mg + 25 mg

63

Rosuva 10 Tablet

Rosuvastatin

10 mg

64

Simacor 10 Tablet

Simvastatin

10 mg

65

Vasopril 5 tablet

Enalapril Maleate

5mg

66

Vasopril 10 tablet

Enalapril Maleate

10mg

Market segment: ANTIHELMINTIC 1

Almex suspension

Albendazole

200 mg/5ml

2

Almex Tablet

Albendazole

400mg

3

Ermox 100 Tablet

Mebendazole

100mg

4

Ermox Suspension

Mebendazole

100mg/5ml

Market segment: ANTIAMOEBIC, ANTIPROTOZOAL, ANTIFUNGAL 1

Amodis 400 Tablet

Metronidazole

400mg

2

Amodis Suspension

Metronidazole

200mg/5ml

3

Candex Suspension

Nystatin

0.1million unit

4

Flugal 150 Capsule

Fluconazole

150mg

5

Flugal 50 Capsule

Fluconazole

50mg

6

Flugal Suspension

Fluconazole

50mg/5ml

7

Itra Capsule

Itraconazole

100 mg

8

Ketoral 200 Tablet

Ketoconazole

200mg

9

Robic Tablet

Ornidazole

500 mg

48 | Page

10

Secnid 500 Suspension

Secnidazole

500 mg

11

Secnid DS Tablet

Secnidazole

1 gm

Market segment: VITAMINS AND MINERALS 1

B-50 Forte Capsule

Vitamin B Complex

2

B-50 Forte Injection

Vitamin B Complex

3

B-50 Forte Syrup

Vitamin B Complex

4

B-50 Forte Syrup

Vitamin B Complex

5

B-50 Forte Tablet

Vitamin B Complex

6

Beovit Tablet

Thiamine HCl

100mg

7

Bicozin Syrup

Vit B1 + Vit B12 + Vit B6 + Nicotinamide + Zinc

5 mg + 2 mg + 2 mg + 20 mg + 10 mg per 5 ml

8

Bicozin Syrup

Vit B1 + Vit B12 + Vit B6 + Nicotinamide + Zinc

5 mg + 2 mg + 2 mg + 20 mg + 10 mg per 5 ml

9

Bicozin Tablet

Vit.B1 + Vit.B2 + Vit.B3+Vit.B6 +Zn

5 mg+ 2mg+20mg+2mg+10mg

10

Calbo Tablet

Calcium Carbonate

500mg

11

Calbo Junior Tablet

Calcium Carbonate

250 mg

12

Calbo - C Effervescent Tablet

Calcium Lactate Gluconate + Calcium Carbonate + Ascorbic Acid

1000 mg + 327 mg + 500 mg

13

Calbo - D Tablet

Calcium Carbonate + Cholecalciferol

500 mg + 200 IU

14

Calbo Forte Effervescent tablet

Calcium Carbonate BP+Calcium Lactate gluconate +Vitamin C BP+Vitamin D BP

327 mg+1000mg+500 mg+400IU

15

Calboplex Tablet

Calcium + Vitamin D + Mg + Mn + Cu+ B + Zn

600 mg + 200 IU + 40 mg + 1.8 mg + 1 mg + 250 mcg

16

Ceevit Tablet

Ascorbic acid+Sod Ascorbate

250mg

17

Ceevit Forte Effervescent Tablet

Ascorbic acid

1000 mg

18

Evit Tablet

Vitamin- E

200mg

19

Eyevi capsule

Vitamin C+Vitamin E+ Zinc+Copper+Lutein

60mg+30IU+15mg+2mg +6mg

20

Filwel Silver

Multivitamin multimineral for age above 45 yrs.

21

Filwel Gold

Multivitamin multimineral for age below 45 yrs

22

Filwel Kids Syrup

Vit.A+Vit.D+Vit.B1+Vit.B2+Vit.B6+Vit. C+Vit.E+Nicotinamide+Cod liver oil

(2000 IU+200IU+0.70mg+0.85 mg+0.35mg+17.5mg+1. 5mg+9 mg+0.1gm)/5ml

23

Filwel Kids Syrup

Vit.A+Vit.D+Vit.B1+Vit.B2+Vit.B6+Vit. C+Vit.E+Nicotinamide+Cod liver oil

(2000 IU+200IU+0.70mg+0.85 mg+0.35mg+17.5mg+1. 5mg+9 mg+0.1gm)/5ml

24

Methicol Tablet

Mecobalamin INN

500 mcg

25

Methicol Injection

Mecobalamin INN

500 mcg

26

Multivit Plus Tablet

Multivitamin-multimineral

27

Neuro-B Tablet

Vitamin B1 + Vitamin B6 + Vitamin B12

100 mg + 200 mg + 200 mcg

28

Neuro-B Injection

Vitamin B1 + Vitamin B6 + Vitamin B12

100 mg + 100 mg + 1000 mcg

29

Panvit Drops

Multivitamine drops

30

Rex Tablet

Beta carotene, Vit. C & Vit. E

6mg+200mg+50mg

49 | Page

31

Zesup Syrup

Zinc Sulphate

10 mg Zn / 5 ml

32

Zesup Forte Syrup

Zinc Sulphate

20 mg Zn / 5 ml

33

Z-DT 10

Zinc Sulphate

10 mg

34

Z-DT 20

Zinc Sulphate

20 mg

Market segment: ANTIULCERANT 1

Isovent 200 Tablet

Misoprostol

200 mcg

2

Isovent 100 tablet

Misoprostol INN

100 mcg

3

Entacyd Plus Suspension

Antacid + Simethicone

4

Entacyd Plus Tablet

Antacid + Simethicone

5

Entacyd Suspension

Antacid

6

Entacyd Tablet

Antacid

7

Famotack 20 Tablet

Famotidine

8

Famotack 40 Tablet

Famotidine

40 mg

9

Lanso 15 Capsule

Lansoprazole

15 mg

10

Lanso 30 Capsule

Lansoprazole

30 mg

11

Neotack 150 Tablet

Ranitidine HCl

150mg

12

Neotack 300 Tablet

Ranitidine HCl

300mg

13

Neotack Injection

Ranitidine HCl

50 mg/2 ml

14

Neotack Syrup

Ranitidine HCl

75 mg / 5 ml

15

Nexum 20 Capsule

Esomeprazole

20 mg

16

Nexum 40 Capsule

Esomeprazole

40 mg

17

Nexum 20 Tablet

Esomeprazole

20 mg

18

Nexum 40 Tablet

Esomeprazole

40 mg

19

Pylotrip

Lansoprazole+ Clarithromycin+ Amoxycillin

Lansoprazole 30 mg + Clarithromycin 500 mg + Amoxycillin1gm

20 mg

20

Seclo 20 Capsule

Omeprazole

20mg

21

Seclo 40 Capsule

Omeprazole

40 mg

22

Seclo DR 20 tablet

Omeprazole BP

20 mg

23

Trupan 20 Tablet

Pantoprazole

20 mg

24

Trupan 40 Tablet

Pantoprazole

40 mg

25

Xcid Tablet

Calcium Carbonate

1000 mg

Market segment: NASAL DROPS 1

Antazol Nasal Drop 0.05%

Xylometazoline HCl

0.05%

2

Antazol Nasal Drop 0.1%

3

Antazol Plus Nasal Spary

4

Nacromin 2% Nasal Drops

Xylometazoline HCl Xylometazoline + Sodium Cromoglycate Sodium Cromoglycate

0.10% (0.0325 mg + 2.6 mg) / Spray 20 mg / ml

6

Nocon 0.025% Nasal Drops

Oxymetazoline USP

0.025%

5

Nocon 0.05% Nasal Drops

Oxymetazoline USP

0.05%

7

Becospray

Beclomethasone dipropionate

50mcg/ spray

8

Flonaspray

Fluticasone propionate

50mcg/ spray

9

Rynaspray

Ipratropium Bromide

21 mcg/ spray

10

Snizex Nasal Spray

Azelastine HCl BP

137 mcg/spray

11

Trispray

Triamcenolone Acetonide

55 mcg / spray

Market segment: TOPICAL PREPARATIONS (ANTIBIOTIC, ANTIFUNGAL, ANTI-ACNE, ANTISCABIES, ANTIECZEMA) 1 Cresac 0.75% Cream

Metronidazole

0.75%

2

Clotrimazole

1%

Kensten Cream

50 | Page

3

Kensten-VT (Vaginal Tablet)

Clotrimazole

100 mg

4

Betameson-N Top. Cream

Betamethasone+ Neomycin

(1mg+5mg)/gm

5

Dermasol Cream

Clobetasol Propionate Clobetasol Propionate + Neomycin Sulphate + Nystatin Clobetasol Propionate

0.05% (0.5 mg+5 mg+1 lac unit)/gm 0.05%

6

Dermnasol-N Cream

7

Dermasol Ointment

8

Dermasol-N Ointment

Clobetasol Propionate + Neomycin Sulphate + Nystatin

(0.5 mg+5 mg+1 lac unit)/gm

9

Diprobet Cream

Betamethasone Dipropionate BP

0.5mg/gm

10

Diprobet Ointment

Betamethasone Dipropionate BP

0.5mg/gm

11

Equra Cream

Urea

10.00%

12

Eromycin 3 % Lotion

Erythromycin

3%

13

Ezex 0.05% Cream

Clobetasone Butyrate

0.05%

14

Ezex 0.05% Ointment

Clobetasone Butyrate

0.05%

15 16 17

Fona Cream Fungidal HC Cream Fungidal Cream

Adapalene Miconazole nitrate+ Hydrocortisone Miconazole nitrate

0.10% (20mg+10mg)/g 20mg/gm

18

Pevitin Cream

Econazole Nitrate +Triamcenolone Acetonide

1% + 0.1%

19

Genacyn Topical Ointment

Gentamicin

1mg/gm

20

Gelora Gel

Miconazole

2% (W/W)

21

Nebanol Ointment

Neomycin Sulphate + Bacitracin

5mg+9.16mg/g

22

Nebanol Powder

23

Nebanol Plus Ointment

24

(5mg+4.56mg)/g 3.5 mg + 400 IU + 5000 IU 0.03%

Nilac Gel

Neomycin sulphate+Bacitracin Neomycin sulphate+Bacitracin + Polymixin Tretinoin

25

Oni Cream

Betamethasone DP+Clotrimazole

0.05%+1%

26 27 28

Pracort Ointment Pracort Cream Remus cream

Hydrocortisone Acetate + Pramoxine Hydrocortisone Acetate + Pramoxine Tacrolimus

1% + 2.5% 1% + 2.5% 0.01%

29

Scabex Cream

Permethrin

5%

30

Scabex Cream

Permethrin

5%

31

Ticas 0.005% Ointment

Fluticasone Propionate

0.005%

32

Ticas 0.05% Cream

Fluticasone Propionate

0.05%

33

Topicort Cream

Hydrocortisone Acetate

1.00%

34

Xfin Cream

Terbinafine

1.00%

35

Bactrocin 2% Ointment

Mupirocin

2.00%

Market segment: ANTISEPTIC + DISINFECTANT 1

Viodin 1% Mouth Wash

Povidone – Iodine

50 mg/5 ml

2

Viodin 5% Ointment

Povidone – Iodine

50 mg/gm

3

Viodin 10% Antiseptic solution

Povidone Iodine

500 mg/ 5ml

4

Viodin 10% Antiseptic solution

Povidone Iodine

10% Solution

Market segment: ANTICOUGH, EXPECTORANT 1 2

Ambrox pediatric Drops Ambrox SR Capsule

Ambroxol Ambroxol

6 mg/ml 75 mg

3

Ambrox Syrup

Ambroxol

15 mg/5ml

4

Brofex Syrup

5

Ofkof Syrup

10mg/5ml 10 mg + 30 mg + 1.25 mg per 5 ml 8 mg 4 mg / 5 ml

6

Mucospel Tablet

Dextromethorphan Dextromethorphane + Pseudoephedrine + Triprolidine Bromhexine HCl

7

Mucospel Syrup

Bromhexine HCl

51 | Page

8

Tusca Syrup

9

Nectar Linctus

Guaiphenesin + Pseudoephedrine + Triprolidine HCl Glycerol BP+Liquid Sugar ph.grd

(100mg + 30mg + 1.25mg)/5ml (0.75ml+1.93ml)/5ml

Market segment: SEDATIVE, HYPNOTIC, ANTIDEPRESANT, ANTIVERTIGO 1

Carbizol 5 Tablet

Carbimazole

5 mg

2

Clobam Tablet

Clobazam

10mg

3

Diliner DR Capsule

Duloxetine

60 mg

4

Elzer Tablet

Donepezil

5 mg

5

Epitra 0.5 Tablet

Clonazepam

0.5 mg

6

Epitra 2 Tablet

Clonazepam

2 mg

7

Laxyl Tablet

Bromazepam

3 mg

8

Melixol tablet

Flupenthixol + Melitracen

0.5 mg+10 mg

9

Myonil tablet

Eperisone

50 mg

10

Nixalo 0.25 Tablet

Alprazolam

0.25 mg

11

Nixalo 0.50 Tablet

Alprazolam

0.50 mg

12

Oxapro Tablet

Escitalopram

10 mg

13

Oxat tablet

Paroxetine HCl

20 mg

14

Rislon Tablet

Betahistine Mesilate

6 mg

15

Prolert Capsule

Fluoxetine HCl

20mg

16

Sanit Tablet

Nortriptyline + Fluphenazine

10 mg + 0.5 mg

17

Sedil Injection

Diazepam

10mg/2ml

18

Sedil Tablet

Diazepam

5mg

19

Tryptin 10 Tablet

Amitryptyline HCl

10mg

20

Tryptin 25 Tablet

Amitryptyline HCl

25mg

Market segment: ANTIPSYCHOTIC, ANTIPERKINSONIAN 1

Deprex 5 mg tablet

Olanzapine

5 mg

2

Deprex 10 mg tablet

Olanzapine

10 mg

3

Peridol Tablet

Haloperidol

5 mg

4

Peridol Injection

Haloperidol

5mg/1ml

5

Perkinil Tablet

Procyclidine HCl

5mg

6

Perkinil Injection

Procyclidine HCl

10 mg / 2 ml

7

Perkirol 0.25 Tablet

Ropinirole

0.25 mg

8

Perkirol 2 Tablet

Ropinirole

2 mg

Market segment: ANTIDIABETIC 1

Comet 500 Tablet

Metformin HCl

500 mg

2

Comet 750 Tablet

Metformin HCl

750 mg

3

Comet 850 Tablet

Metformin HCl

850 mg

4

Comet Oral Solution

Metformin HCl

500 mg / 5 ml

5

Comet XR 500 Tablet

Metformin HCl

500 mg

6

Comet XR 1gm Tablet

Metformin HCl

1000 mg

7

Comprid Tablet

Gliclazide

80 mg

8

Comprid MR 30 Tablet

Gliclazide

30 mg

9

Dibenol Tablet

Glibenclamide

5mg

10

Glyros 1 Tablet

Glimepiride + Rosiglitazone

1 mg + 4 mg

11

Glyros 2 Tablet

Glimepiride + Rosiglitazone

2 mg + 4 mg

12

Repran 0.5 Tablet

Repaglinide

0.5 mg

13

Repran 1 Tablet

Repaglinide

1 mg

14

Repran 2 Tablet

Repaglinide

2 mg

52 | Page

15

Rezulin 500 Tablet

Pioglitazone + Metformin

15 mg + 500 mg

16

Rezulin 850 Tablet

Pioglitazone + Metformin

15 mg + 850 mg

17

Secrin 1 tablet

Glimepiride

1 mg

18

Secrin 2 tablet

Glimepiride

2 mg

19

Secrin 3 tablet

Glimepiride

3 mg

20

Secrin 4 tablet

Glimepiride

4 mg

21

Sensimet 1 tablet

Rosiglitazone + Metformin

1 mg + 500 mg

22

Sensimet 2 tablet

Rosiglitazone + Metformin

2 mg + 500 mg

23

Sensimet 4 tablet

Rosiglitazone + Metformin

4 mg + 500 mg

24

Sensimet 1 DS tablet

Rosiglitazone + Metformin

2 mg + 1000 mg

25

Sensimet 2 DS tablet

Rosiglitazone + Metformin

4 mg + 1000 mg

26

Sensulin 2 tablet

Rosiglitazone

2 mg

27

Sensulin 4 tablet

Rosiglitazone

4 mg

28

Tos 15 Tablet

Pioglitazone

15 mg

29

Tos 30 Tablet

Pioglitazone

30 mg

30

Zitrol XR 2.5

Glipizide

2.5 mg

31

Zitrol XR 5

Glipizide

5 mg

32

Zirol XR 10

Glipizide

10 mg

33

Tosirin 30/2 tablet

Pioglitazone INN+Glimepiride USP

30 mg+2 mg

34

Tosirin 30/4 tablet

Pioglitazone INN+Glimepiride USP

30 mg+4 mg

Market segment: HAEMATINIC 1

Bicozin-I Syrup

Iron Polymaltose + Thiamine + Riboflavin + Nicotinamide + Pyridoxine + Zinc

50 mg + 5 mg + 2 mg + 20 mg +2 mg +10 mg

2

Bicozin-I Syrup

Iron Polymaltose + Thiamine + Riboflavin + Nicotinamide + Pyridoxine + Zinc

50 mg + 5 mg + 2 mg + 20 mg +2 mg +10 mg

3

Bicozin-I Syrup

Iron Polymaltose + Thiamine + Riboflavin + Nicotinamide + Pyridoxine + Zinc

50 mg + 5 mg + 2 mg + 20 mg +2 mg +10 mg

4

Fe-PLUS CAPSULE 200mg

Ferrous Fumarate+Folic acid

200mg +0.2mg

5

Polyron Syrup

50 mg/5ml

6

Servin Capsule

Iron (iii) Hydroxide Polymaltose Dried Ferrous Sulphte + Folic acid + Thiamine Mononitrate + Riboflavin + Nicotinamide + Pyridoxine Hydrochloride + Ascorbic Acid

7

ZIF CAPSULE

Zinc Sulphate mono hydrate + ferrous sulphate + folic acid

61.8mg + 150mg + 0.50mg

8

Zif CI Capsule

61.8 mg + 0.50 mg + 50 mg

9

Zifolet Tablet

Zinc Sulphate + Folic Acid + Carbonyl Iron Zinc Sulphate mono hydrate + folic acid

10

Ziliron Tablet

Iron Polymaltose + Folic Acid + Zinc Sulphate Monohydrate

47 mg + 0.50 mg + 61.80 mg

0.10%

150mg + 0.5mg + 2mg + 2mg + 10mg + 1mg + 50mg

54.90 mg + 5 mg

Market segment: EYE / EAR DROPS 1

Alacot 0.1% Eye Drops

Olopatadine HCl

2

Alarid 0.025% Eye Drops

Ketotifen Fumarate BP

0.025%

3

Ciprocin 0.3% Eye / Ear Drops

Ciprofloxacin

0.30%

4

Clofenac Eye Drops

Diclofenac Sodium

1mg / ml

5

Genacyn Eye / Ear Drops

Gentamicin

3mg/ml

53 | Page

6

Iventi Eye Drops

Moxifloxacin

0.50%

7

Mexlo Eye Drops

Lomefloxacin

3 mg / ml

8

Nacromin 2% Eye Drops

Sodium Cromoglycate

20 mg / ml

9

Locular 0.2% Eye Drops

Brimonidine Tartrate

0.20% 5mg/ml

10

SQ-Mycetin Eye / Ear Drops

Chloramphenicol

11

Temlo 0.25% Eye Drops

Timolol Maleate

2.5 mg/ml

12

Temlo 0.50% Eye Drops

Timolol Maleate

5 mg/ml

2mg

Market segment: ANTIDIARRHOEAL 1

Imotil Capsule

Loperamide HCl

2

Zox 500 Tablet

Nitazoxanide

500 mg

3

Zox Suspension

Nitazoxanide

100 mg / 5 ml

4

Zox Suspension

Nitazoxanide

100 mg / 5 ml

Market segment: ANTIGOUT 1

Esloric 100 Tablet

Allopurinol

100 mg

2

Esloric 300 Tablet

Allopurinol

300 mg

Market segment: ANTIMALARIAL 1

Malacide Tablet

Sulfadoxine + Pyrimethamine

500mg+25mg

2

Lumartem tablet

Artemether INN+Lumefantrine INN

20 mg+120mg

Market segment: BRONCHODILATOR, ANTIASTHMATIC 1

Asmanyl Tablet

Theophylline

300mg

2

Beclomin 100 Inhaler

Beclomethasone Dipropionate

100 mcg/puff

3

Beclomin 250 inhaler

Beclomethasone Dipropionate

250 mcg/puff

4

Ezonide 80 Inhaler

Ciclesonide

80 mcg / puff

5

Ezonide 160 Inhaler

Ciclesonide

160 mcg / puff

6

Iprex Inhaler

Ipratropium Bromide

20 mcg/puff

7

Iprex Respirator Solution

Ipratropium Bromide

250 mcg/ml

8

Levostar 1 Tablet

Levosalbutamol

1 mg

9

Levostar 2 Tablet

Levosalbutamol

2 mg

10

Levostar Inhaler

Levosalbutamol

50 mcg / puff

11

Levostar Syrup

Levosalbutamol

1 mg / 5 ml

12

Levostar Syrup

Levosalbutamol

1 mg / 5 ml

13

Montene 4 chewable tablet

Montelukast

4 mg

14

Montene 5 Tablet

Montelukast

5 mg

15

Montene 10 Tablet

Montelukast

10 mg

16

Nacromin Cozycap

Sodium Cromoglycate

20 mg

17

Norvent Inhaler

Tiotropium Bromide

9 mcg/ puff

18

Salmate Inhaler

Salmeterol

25 mcg/puff

19

Sultolin Cozycap

Salbutamol

20 mcg

20

Sultolin Syrup

Salbutamol

2mg/5ml

21

Sultolin 100 Inhaler

Salbutamol

100mcg/puff

22

Sultolin 4 mg Tablet

Salbutamol

4mg

23

Sultolin SR Tablet

Salbutamol

8mg

24

Sultolin Respirator Solution

Salbutamol

5 mg / ml

54 | Page

25

Sulprex Inhaler

26

Ticamet 50 Inhaler

Salmeterol + Fluticasone

(100 mcg + 20 mcg) / puff (25 mcg+ 50 mcg) / puff

27

Ticamet 125 Inhaler

Salmeterol + Fluticasone

(25 mcg+125 mcg) / puff

28

Ticamet 250 Inhaler

Salmeterol + Fluticasone

(25 mcg+250 mcg) / puff

29

Ticamet 100 Cozycap

Salmeterol + Fluticasone

50mcg+100 mcg

30

Ticamet 250 Cozycap

Salmeterol + Fluticasone

50mcg+250 mcg

31

Optiven 10 tablet

Bambuterol

10 mg

32

Optiven 20 tablet

Bambuterol

20 mg

33

Optiven oral solution

Bambuterol HCl

5mg/5ml

Salbutamol + Ipratropium

Market segment: ANTIVIRAL / ANTIRETOVIRAL (ARV) 1

Avudin Tablet

Lamivudine + Zidovudine

150 mg + 300 mg

2

Adiva Tablet

Efavirenz

600 mg

3

Antiva tablet

Adefovir Dipivoxil

10 mg

4

Aviflu Capsule

Oseltamivir

75 mg

5

Hepavir Tablet

Lamivudine

100 mg

6

Hivarif Tablet

Lamivudine

150 mg

7

Hivarif Syrup

Lamivudine

10 mg / ml

8

Nelvir Tablet

Nelfinavir

9

Tivizid Tablet

Lamivudine + Zidovudine + Abacavir

10

Virux Cream

Acyclovir HCl

250 mg 150 mg + 300 mg + 300 mg 50mg/gm

11

Virux 200 Tablet

Acyclovir HCl

200mg

12

Virux 400 Tablet

Acyclovir HCl

400 mg

Market segment: OSTEOPOROSIS THERAPY 1

Ostel Tablet

Alendronate Sodium

10 mg

2

Ostel 70 Tablet

Alendronate Sodium

70 mg

3

Ostel-D 70/2800

Alendronate Sodium BP+Vit D3 BP

70 mg+2800 IU

4

Ostel-D 10/400

Alendronate Sodium BP+Vit D3 BP

10 mg+400 IU

5

Oxilar tablet

Raloxifene

60 mg

800 mg

Market segment: NEUROLEPTICS 1

Neurolep Tablet

Piracetam

2

Neurolep Solution

Piracetam

500 mg/5ml

3

Suev 10 Capsules

Atomoxetine

10 mg

Market segment: ANTI-MIGRAINE 1

Migranil 0.5 Tablet

Pizotifen

0.5 mg

2

Migranil 1.5 Tablet

Pizotifen

1.5 mg

3

Nomi tablet

Zolmitriptan HCl

2.5 mg

Market segment: LAXATIVE 1

Osmolax Solution

Lactulose

3.40gm/5ml

2

Osmolax Solution

Lactulose

3.40gm/5ml

Sibutromine

5 mg

Market segment: ANOREXIANTS 1

Obenil 5mg Capsule

55 | Page

Market segment: ANTICHOLINERGIC 1

Ucol 2 tablet

Tolterodine Tartrate

2mg

Market segment: GI SENSORY MOTOR MODULATOR 1

Tesod tablet

Tegaserod Hydrogen Maleate

6 mg

Market segment: ANTIHAEMORRHOIDAL 1

Hemorif Tablet

Diosmin + Hespiridine

450 mg + 50 mg

2

Erian Ointment

Cinchocaine + Hydrocortisone + Framycetin + Esculin

5 mg + 5 mg + 10 mg + 10mg

3

Erian suppository

Cinchocaine + Hydrocortisone + Framycetin + Esculin

(5 mg+5 mg+10 mg+10 mg)/gm

Market segment: PROSTATIC DISEASE PRODUCT 1

Maxrin Capsule

Tamsulosin HCl

2

Uriten Tablet

Alfuzosin HCl

0.4 mg 10 mg

3

Pronor Tablet

Finsteride

5 mg

Market segment: DENTAL PREPARATIONS 1

Orogel Dental Gel

Benzocaine USP

20 % W/W

Market segment: WATER PURIFIER 1

Puritar 1 Tablet

Sodium Dichlorisocyanurate INN

17 mg

2

Puritar 3 Tablet

Sodium Dichlorisocyanurate INN

51 mg

Market segment: OTHER GYNAECOLOGICAL PRODUCTS 1

Lerozol tablet

Letrozole USP

2.5 mg

500 mg

Market segment: ANTIFIBRINOLYTICS 1

Frabex 500 Capsule

Tranexamic acid BP

2

Frabex 500 Injection

Tranexamic acid BP

500 mg/5ml

3

K-One Solution/Injection

Phytomenadione BP

2 mg/0.2 ml

56 | Page