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Marketing Essay

4423 words - 18 pages

1.0 Introduction:

The pharmaceuticals sector is one of the potential as well as capital oriented sectors in Bangladesh. The pharmaceutical industry in Bangladesh is also one of the most developed sectors within the country's economy. Pharmaceutical industry is technologically the most developed manufacturing industries in Bangladesh and the third largest industry in terms of contribution to government’s revenue. The industry contributes about 1% of the total GDP. The pharmaceuticals market is almost self-sufficient in meeting local demand as 97% of the drugs are manufactured locally while the remaining 3% are imported from abroad. The industry manufactured about 5,600 brands of medicines ...view middle of the document...

The topic of the CME was ‘Immunity in childhood -The role of probiotics’. Dr. Kazi Nawshad-Un-Nabi, Chief Consultant gave the welcome speech with a glimpse of wide use and importance of probiotics.
2.0 Pharmaceuticals Industry:
Pharmaceutical sector is technologically the most developed manufacturing industries in Bangladesh. Again after the decree of Drug Control Ordinance - 1982, the development of this sector was accelerated. The professional knowledge, thoughts and innovative ideas of the pharmaceutical professionals working in this sector are the key factors for these developments. There are about 250 licensed pharmaceutical manufacturers in the country; however, currently a little over 100 companies are in operation. It is highly concentrated as top 20 companies produce 85% of the revenue. According to IMS, a US-based market research firm, the retail market size is estimated to be around BDT 84 billion as on 2011.Retail sales in the domestic market achieved 23.6% growth in 2011 following 23.8% and 16.8% growth in 2010 and 2009 respectively. It is one of the fastest growing sectors in the country with an annual average growth rate of 17.2% over the last five years and 13.1% over the last decade. The pharmaceutical industry is trying to export to 120 countries from the existing 83 in the next few years. The pharmaceutical sector is the highest contributor to the national exchequer, along with being the largest white-collar employment sector of the country. Bangladesh pharmaceuticals earned around Tk.400 crore through export in 2010, and this could rise to around Tk.500 crore in 2012.
Bangladesh pharmaceutical companies focus primarily on branded generic final formulations, mostly using imported APIs (Active Pharmaceuticals Ingredient). Branded generics are a category of drugs, including prescription products. Bangladesh manufactures about 450 generic drugs for 5,300 registered brands which have 8,300 different forms of dosages and strengths. These include a wide range of products from anti-ulcerants, flour quinolones, anti-rheumatic non-steroid drugs, non-narcotic analgesics, antihistamines, and oral anti-diabetic drugs. Some larger firms have also started producing anti-cancer and anti-retroviral drugs. The latest addition in this segment is the introduction of human vaccines, which were previously imported from abroad.
Regulatory Authorities:
There are two main regulatory authorities whose responsibilities are to look after all the activities of pharmaceuticals companies of Bangladesh. From Two organizations, one is governmental, named The Directorate General of Drug Administration (DGDA) and another one is semi-governmental, named Pharmacy Council of Bangladesh (PCB). PCB was established under the Pharmacy Ordinance in 1976. DGDA works under the Ministry of Health and Family Welfare. Its regulates all activities related to import and export of raw materials of pharmaceuticals, packaging materials, production, sale, pricing, license...

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