Eskayef enters UK medicine market

Eskayef Bangladesh Ltd, a leading pharmaceutical company in the country, has started exporting medicines to a UK firm from this month, the company's managing director said.

“Initially, we have got an export order of Diuretics and Omeprazole worth around $3 million from the UK drug company and we have sent our first consignment to that country on Monday,” said AM Faruque, adding that his company would complete the export by September.

“We have got approval from the Medicines and Healthcare products Regulatory Agency (MHRA) of UK in August 2008, which allows us to export pharmaceutical products to the European market,” he said.

Faruque said this agency usually takes a long time, even years, to give such a go-ahead, but Eskayef has achieved it in only eight months because the company complies with the MHRA requirements, including quality assessment and hygiene maintenance.

“In addition, with this order we have been allowed to export non-sterile production of tablets, capsules and granules (commonly known as pellets), which would help us grow further, both locally and globally,” he went on.

He said his company eyes raising exports to $5 million in 2009 from $3 million a year ago.

The world-class healthcare solution provider grows at 30 percent a year. The Eskayef MD also believes that the market will grow nearly 15 percent in 2009.

Eskayef manufactures and markets a wide range of therapeutic drugs, bulk pellets and animal health and nutrition products. Its 2008 sales reached $60 million, while the figure was only half a million US dollars in 1990, the year Transcom Group took over the company.

“We have set a target to sell drugs worth Tk 400 crore this year,” the Eskayef top official said.

The countries where Eskayef bulk pellets and finished products are now exported include Indonesia, Sri Lanka, Myanmar, Nepal, Vietnam, Kenya and some Central American countries.

AM Faruque in this context also pointed to his company's constant efforts to ensure quality medicines for consumers at affordable prices.

There are 250 small, medium and large local and multinational pharmaceutical companies in operation in Bangladesh. Many started their business after 2000 sensing the growth potential in the local market.

Of the 250, top 10 companies, such as Square, Beximco, Eskayef, Incepta, Acme, ACI, Opsonin, Renata, Aristopharma and Drug International take up nearly 70 percent of the total market share, according to the Information on Medical Statistics (IMS) 2008 survey.

sayeda@thedailystar.net