Find out the top 10 medicine companies in Bangladesh that excel in producing high-quality pharmaceuticals. Get insights into industry giants like Square, Incepta, and Beximco.
The pharmaceutical industry is a cornerstone of Bangladesh’s economy, fulfilling 98% of the country’s medical needs. Demonstrating an impressive average growth rate of over 15% per annum, the sector achieved export earnings of $169 million in FY 2020-21, spanning over 160 countries. Domestically, the market is valued at approximately TK 13,000 crore, with international market worth surpassing TK 650 crore. With a robust growth rate exceeding 9%, the country boasts over 269 pharmaceutical companies, including 169 involved in regular medicine production. For those seeking to navigate this vibrant industry, we present an introduction to Bangladesh’s top 10 pharmaceutical companies.
Table of Contents
- E-Commerce in the Pharmaceutical Industry
- Top 10 Pharmaceutical Companies in Bangladesh
- FAQs About the Pharmaceutical Industry in Bangladesh
- Conclusion
E-Commerce in the Pharmaceutical Industry
In recent years, the integration of e-commerce into the pharmaceutical industry in Bangladesh has revolutionized the way medicines are accessed and distributed. Online pharmacies and digital platforms have made it easier for consumers to purchase medications and healthcare products from the comfort of their homes. This shift towards digitalization has been particularly accelerated by the COVID-19 pandemic, which highlighted the need for convenient and contactless purchasing options.
Key Aspects of E-Commerce in the Pharmaceutical Industry:
- Convenience: Consumers can order medications online and have them delivered to their doorstep, reducing the need for physical visits to pharmacies.
- Accessibility: Online platforms provide access to a wide range of products, including those that may not be available in local pharmacies.
- Transparency: E-commerce platforms often provide detailed information about products, including ingredients, usage instructions, and potential side effects.
- Discounts and Offers: Online pharmacies frequently offer discounts and promotional deals, making medications more affordable for consumers.
- Digital Prescriptions: Many e-commerce platforms allow users to upload prescriptions digitally, streamlining the process of obtaining prescription medications.
Challenges and Considerations:
- Regulation and Safety: Ensuring the authenticity and safety of medications sold online is crucial. Regulatory bodies need to establish and enforce guidelines to prevent the sale of counterfeit or expired drugs.
- Privacy and Data Security: Protecting consumer data and ensuring privacy in online transactions is paramount.
- Delivery Logistics: Efficient and timely delivery systems are necessary to maintain the effectiveness of medications, especially those requiring specific storage conditions.
The rise of e-commerce in Bangladesh’s pharmaceutical sector not only enhances consumer convenience but also opens new avenues for business growth and innovation. Companies that successfully integrate digital strategies into their operations are likely to see significant benefits in terms of market reach and customer satisfaction. As the industry continues to evolve, the role of e-commerce will undoubtedly become more prominent, driving further advancements in healthcare accessibility and delivery.
Top 10 Pharmaceutical Companies in Bangladesh
Explore the top 10 pharmaceutical companies in Bangladesh, leading the industry with innovation, quality products, and extensive global reach. From Square Pharmaceuticals Ltd. to Aristopharma Ltd., discover their contributions to Bangladesh’s healthcare sector and their impact on the global pharmaceutical landscape.
1. Square Pharmaceuticals Ltd.
Square Pharmaceuticals Ltd. is the largest pharmaceutical company in Bangladesh, renowned for its significant contribution to the country’s healthcare sector and its extensive product range. Founded in 1958 by Samson H. Chowdhury and his associates, the company has grown to become a leader in the industry, both domestically and internationally.
Key Facts:
- Products: Tablets, syrups, capsules, injections, infusions, suppositories, insulin, basic chemicals, animal health products, agro vet, and pesticide products.
- Export: Began exporting in 1987; now exports to 42 countries including Asia, Africa, America, and Australia.
- International Operations: First Bangladeshi company to set up a manufacturing plant abroad (Kenya).
- Revenue (FY 2020-21): BDT 58.35 billion (Domestic: BDT 56.84 billion, Export: BDT 1.51 billion).
- Market Share: 17.73%.
- Employees: Approximately 10,000.
Future Prospects
Square Pharmaceuticals continues to invest in research and development to stay ahead in the competitive pharmaceutical market. The company aims to expand its product portfolio, enhance its manufacturing capabilities, and strengthen its presence in both domestic and international markets.
2. Incepta Pharmaceutical Ltd.
Incepta Pharmaceutical Ltd. is one of the leading pharmaceutical companies in Bangladesh, known for its innovative product offerings and significant market share. Founded in 1999 by Abdul Muktadir, the company quickly established itself as a major player in the industry. Incepta is a concern of Impress Group and includes two sister concerns: Incepta Vaccine and Neocare.
Key Facts:
- Products: Capsules, tablets, nasal sprays, eye drops, more than 600 generic drugs including sustained-release tablets, quick-mouth dissolving tablets, effervescent tablets, and insulin.
- Manufacturing Plants: Located in Savar and Dhamrai.
- Distribution Network: 28 depots across Bangladesh.
- Export: Products exported to 78 countries.
- Revenue (2021): BDT 2,755 crore.
- Employees: Approximately 10,000.
- Market Share: 10.21%.
Future Prospects
Incepta aims to continue its growth trajectory by expanding its product portfolio, enhancing manufacturing capabilities, and increasing its international market presence. The company is also focusing on biotechnology and vaccine production to meet global health needs.
3. Beximco Pharmaceuticals Ltd.
Beximco Pharmaceuticals Ltd. (BPL) is a prominent player in Bangladesh’s pharmaceutical industry, known for its strong emphasis on quality, innovation, and global reach. Established in 1976 as a subsidiary of BEXIMCO Group by brothers A.S.F Rahman and Salman F Rahman, Beximco Pharma has grown into one of the country’s leading pharmaceutical manufacturers and exporters.
Key Facts:
- Products: Generic drugs, Intravenous Fluids, Therapeutic Nutrition Products, Active Pharmaceutical Ingredients (APIs).
- Popular Product: Napa (painkiller).
- Export: Products exported to more than 50 countries, including the USA, EU, Australia, and Canada.
- Revenue (FY 2020-21): BDT 2,949 crore (Domestic: BDT 2,633 crore, Export: BDT 312 crore).
- Market Share: 8.39%.
- Employees: More than 5,000.
Future Prospects
Beximco Pharmaceuticals aims to maintain its growth momentum by expanding its product portfolio, enhancing manufacturing capabilities, and strengthening its presence in international markets. The company is also focused on developing and manufacturing high-value generics and specialty products.
4. Opsonin Pharma Ltd.
Opsonin Pharma Ltd. is one of the oldest and most respected pharmaceutical companies in Bangladesh. Founded in 1956 by Abdul Khaleque Khan, the company has built a strong reputation for its commitment to quality and innovation in the pharmaceutical industry. Opsonin ranks fourth in terms of pharmaceutical sales in Bangladesh, holding a market share of 5.54%.
Key Facts:
- Products: 428 brands of 393 generic drugs including capsules, tablets, injections, syrups, infusions, and suppositories.
- Export: 16 countries in Asia, Africa, and the Middle East.
- Market Share: 5.54%.
- Employees: Not specified.
Future Prospects
Opsonin Pharma aims to continue its growth by expanding its product portfolio, enhancing manufacturing capabilities, and increasing its international market presence. The company is focused on maintaining its reputation for quality and innovation, ensuring its continued success in the competitive pharmaceutical industry.
5. Renata Limited.
Renata Limited is one of Bangladesh’s leading pharmaceutical and animal health product companies. Originally founded as Pfizer Limited in 1972, the company was rebranded as Renata Limited in 1993 after Pfizer Inc. sold its shares to local shareholders. Renata has since grown into a major player in the pharmaceutical industry, known for its high-quality products and extensive market reach.
Key Facts:
- Products: Medicines and animal health products.
- Manufacturing Sites: 10 factories at 3 sites.
- Distribution Network: 19 depots across Bangladesh.
- Revenue (FY 2020-21): BDT 2,925 crore.
- Market Share: 4.97%.
- Employees: Approximately 8,000.
Future Prospects
Renata Limited aims to maintain its growth trajectory by expanding its product portfolio, enhancing manufacturing capabilities, and strengthening its presence in international markets. The company is also focused on developing and manufacturing high-value generics and specialty products.
6. Healthcare Pharmaceuticals Limited.
Healthcare Pharmaceuticals Limited (HPL) is a prominent player in the Bangladeshi pharmaceutical industry, known for its commitment to innovation and quality. The company holds a market share of 4.57% and ranks sixth among the leading pharmaceutical manufacturers in Bangladesh. HPL has a diverse product portfolio and a strong presence both domestically and internationally.
Key Facts:
- Products: 120 generic to 210 branded products including tablets, capsules, liquids, dry syrups, creams, ointments, and gels.
- Distribution Network: 13 storehouses across Bangladesh.
- Export: Products exported to Asia, Africa, and the Commonwealth.
- Market Share: 4.57%.
- Employees: About 800.
Future Prospects
Healthcare Pharmaceuticals Limited aims to maintain its growth trajectory by expanding its product portfolio, enhancing manufacturing capabilities, and strengthening its presence in international markets. The company is focused on developing and manufacturing high-value generics and specialty products to meet global health needs.
7. ACI Pharmaceuticals Limited.
Advanced Chemical Industries (ACI) Pharmaceuticals Limited, a subsidiary of ACI Limited, is one of the leading pharmaceutical companies in Bangladesh. With a market share of 4.43%, ACI Pharmaceuticals is known for its high-quality products and significant contributions to the healthcare sector. The company operates under the larger ACI Group, which has diverse business interests including pharmaceuticals, consumer brands, agribusiness, and retail chain shops.
Key Facts:
- Products: 387 types of medications including tablets, capsules, injections, infusions, insulin, and suppositories.
- Manufacturing Plant: Narayanganj (11.5 acres).
- Distribution Network: 18 warehouses across Bangladesh.
- Revenue (FY 2020-21): BDT 1,224 crore.
- Export: Products exported to 30 countries.
- Market Share: 4.43%.
- Employees: Approximately 5,000.
Future Prospects
ACI Pharmaceuticals aims to maintain its growth trajectory by expanding its product portfolio, enhancing manufacturing capabilities, and strengthening its presence in international markets. The company is focused on developing and manufacturing high-value generics and specialty products to meet global health needs.
8. Eskayef Pharmaceuticals Ltd.
Eskayef Pharmaceuticals Ltd., also known as SK+F, is one of the leading pharmaceutical companies in Bangladesh. As a subsidiary of the Transcom Group, Eskayef has earned a reputation for its commitment to quality and innovation in the pharmaceutical industry. The company produces a wide range of products, including pharmaceuticals, bulk pellets, and animal health products, catering to both domestic and international markets.
Key Facts:
- Products: Pharmaceuticals Finished Products, Bulk Pellets, Animal Health & Nutrition Products.
- Export: Products exported to more than 30 countries including Asia, Europe, Australia, and Africa.
- Market Share: Not specified.
- Employees: Not specified.
Future Prospects
Eskayef Pharmaceuticals Ltd. aims to maintain its growth trajectory by expanding its product portfolio, enhancing manufacturing capabilities, and strengthening its presence in international markets. The company is focused on developing and manufacturing high-value generics and specialty products to meet global health needs.
9. ACME Laboratories Ltd.
ACME Laboratories Ltd., part of the ACME Group, is one of the oldest and most reputable pharmaceutical companies in Bangladesh. Established in 1954, ACME has built a strong reputation for manufacturing high-quality pharmaceutical products. The company is known for its wide range of therapeutic offerings and its commitment to improving healthcare both domestically and internationally.
Key Facts:
- Products: Over 500 different types of dosages including cardiovascular, gastrointestinal, anti-infective, CNS, anti-diabetic, and respiratory disease medications.
- Export: Products exported to South East Asia, Central America, and Africa.
- Market Share: Not specified.
- Employees: Not specified.
Future Prospects
ACME Laboratories Ltd. aims to maintain its growth trajectory by expanding its product portfolio, enhancing manufacturing capabilities, and strengthening its presence in international markets. The company is focused on developing and manufacturing high-value generics and specialty products to meet global health needs.
10. Aristopharma Ltd.
Aristopharma Ltd. is one of the renowned pharmaceutical companies in Bangladesh, known for its commitment to innovation and quality in the pharmaceutical industry. Since its inception in 1986, Aristopharma has made significant strides in providing high-quality medicines at affordable prices, both domestically and internationally.
Key Facts:
- Products: Wide range of dosage forms including antipyretics, vitamins, minerals, antibiotics, NSAIDs, antiulcerants, steroids, antispasmodics, cardiovascular drugs, antidiabetics, antipsychotics, antiemetics, and antiseptics.
- Manufacturing Facility: Shampur-Kadamtali I/A near Dhaka.
- Market Share: Not specified.
- Employees: Not specified.
Future Prospects
Aristopharma Ltd. aims to maintain its growth trajectory by expanding its product portfolio, enhancing manufacturing capabilities, and strengthening its presence in international markets. The company is focused on developing and manufacturing high-value generics and specialty products to meet global health needs.
FAQs About the Pharmaceutical Industry in Bangladesh
1. What role does the pharmaceutical industry play in Bangladesh’s economy?
The pharmaceutical industry is a vital component of Bangladesh’s economy, meeting 98% of the country’s medical needs. It has an impressive growth rate of over 15% per annum and significant export earnings, contributing to the country’s economic stability and growth.
2. How many pharmaceutical companies are currently operating in Bangladesh?
There are over 269 pharmaceutical companies in Bangladesh, with 169 engaged in the production of regular medicines.
3. What are the major products manufactured by pharmaceutical companies in Bangladesh?
Pharmaceutical companies in Bangladesh manufacture a wide range of products, including tablets, syrups, capsules, injections, infusions, suppositories, insulin, basic chemicals, animal health products, agro vet products, and pesticides.
4. How has the pharmaceutical industry in Bangladesh evolved over the years?
The pharmaceutical industry in Bangladesh has evolved significantly, with increased production capabilities, international market expansion, and the establishment of modern manufacturing plants. Companies like Square Pharmaceuticals and Incepta have set benchmarks in innovation and quality.
5. What makes Square Pharmaceuticals the largest pharmaceutical company in Bangladesh?
Square Pharmaceuticals, founded in 1958, is the largest pharmaceutical company in Bangladesh due to its extensive range of products, significant market share, and strong domestic and international presence. The company also pioneered the establishment of a manufacturing plant abroad.
6. How does Incepta Pharmaceutical Ltd. contribute to innovation in the industry?
Incepta Pharmaceutical Ltd., established in 1999, focuses on launching new and innovative products, including sustained-release tablets, quick-mouth dissolving tablets, effervescent tablets, and insulin. The company also has a robust distribution network and exports to 78 countries.
7. What are some of the notable achievements of Beximco Pharmaceuticals Ltd.?
Beximco Pharmaceuticals Ltd., founded in 1976, is known for its successful manufacturing and export operations. It is the first Bangladeshi company listed on the London Stock Exchange’s Alternative Investment Market and has a strong presence in over 50 countries.
8. How has Renata Limited evolved from its origins as Pfizer Limited?
Renata Limited started as Pfizer Limited in 1972 and rebranded in 1993 after local shareholders took over. The company has since grown to be a major player in the pharmaceutical industry with extensive manufacturing and distribution networks.
9. Which countries are the primary export markets for Bangladeshi pharmaceutical companies?
Bangladeshi pharmaceutical companies export to numerous countries across Asia, Africa, America, and Australia. Square Pharmaceuticals, for example, exports to 42 countries, while Incepta exports to 78 countries.
10. What is the total market value of the pharmaceutical industry in Bangladesh?
The domestic market value of the pharmaceutical industry in Bangladesh is around TK 13,000 crore, while the international market worth exceeds TK 650 crore.
11. How has the export performance of the pharmaceutical industry impacted Bangladesh’s economy?
The pharmaceutical industry’s export performance has significantly contributed to Bangladesh’s economy, with export earnings of $169 million in FY 2020-21. This has helped boost the country’s global trade presence and economic growth.
12. What regulatory measures ensure the quality of pharmaceutical products in Bangladesh?
Pharmaceutical companies in Bangladesh adhere to strict regulatory measures, including ISO certifications and compliance with international standards. For instance, ACI Pharmaceuticals was the first company in Bangladesh to introduce an ISO 9001-certified quality management system.
13. How do Bangladeshi pharmaceutical companies maintain their competitive edge in the international market?
Bangladeshi pharmaceutical companies maintain their competitive edge by focusing on high-quality production, innovation, and compliance with international standards. They invest in modern manufacturing facilities and continuously improve their product offerings.
14. What are some challenges faced by the pharmaceutical industry in Bangladesh?
Challenges include regulatory compliance, maintaining high-quality standards, competition in the international market, and the need for continuous innovation to meet global demands.
15. What are the future growth prospects for the pharmaceutical industry in Bangladesh?
The future growth prospects for the pharmaceutical industry in Bangladesh are promising, with continued expansion in domestic and international markets, increased investment in research and development, and the potential for more innovative product launches.
16. How is technology impacting the pharmaceutical industry in Bangladesh?
Technology is significantly impacting the pharmaceutical industry in Bangladesh through advancements in manufacturing processes, improved quality control, and the development of new and innovative products. Companies are also leveraging technology for better distribution and supply chain management.
17. What opportunities exist for new entrants in the Bangladeshi pharmaceutical market?
New entrants have opportunities to tap into the growing domestic market, explore export potential, and focus on niche products or innovative solutions. Collaboration with established companies and investment in state-of-the-art manufacturing facilities can also provide a competitive advantage.
Conclusion
Bangladesh’s pharmaceutical industry is a beacon of growth and innovation, significantly contributing to the national economy and healthcare sector. With leading companies like Square Pharmaceuticals and Incepta setting benchmarks, the industry continues to expand both domestically and internationally. The top 10 pharmaceutical companies in Bangladesh exemplify excellence in manufacturing, quality, and global reach, positioning the country as a key player in the global pharmaceutical landscape.