Pharma sales upbeat

Local pharmaceutical sales have grown to 21 percent in the April-June period, a rise from 19 percent in the first three months of this year, according to a report of a global pharmaceutical market intelligence agency.
Intercontinental Marketing Services (IMS) published the quarterly report in August.
Developed manufacturing process, newer investments in the sector and improved marketing strategy boosted the sales growth, said industry insiders.
Opsonin Pharma Ltd performed the best with a 51 percent growth, followed by Eskayef Bangladesh Ltd with 42 percent and Drug International Ltd with 39 percent in the period, the IMS report said.
Among the top ten performers ranked by IMS, others are Beximco Pharmaceuticals Ltd, Incepta Pharmaceuticals Ltd, Reneta Ltd, Advanced Chemical Industries (ACI) Ltd, Square Pharmaceuticals Ltd, Aristopharma Ltd and ACME Laboratories Ltd.
IMS report indicates the local retail sales of pharmaceutical products of different countries for a particular period, excluding the government purchase and exports.
AM Faruque, managing director of Eskayef Bangladesh, said enhanced quality of their products helped increase prescription coverage during this period.
“The first and foremost concern of a consumer is the quality of a product. So when a drug company produces high quality products, doctors confidently prescribe the medicines of that company, eventually helping increase its sales,” he said.
“People usually visit the doctors more when they are financially better off. This year the bumper production of Boro crop helped more people go to doctors. It's also an important reason for sales growth,” Faruque added.
“We are constantly trying to improve the quality of our products,” he said, adding that the marketing strategy of the company also added to the growing sales in both the local and international markets.
Syed Golam Rahman, general manager of Opsonin Pharma, also echoed Faruque's view, saying the increased prescription coverage and improved marketing strategy have fueled their growth in sales.
“Simultaneously, we have launched some new products in the local market that also helped us gain more revenue,” he said.
Opsonin recorded a 38 percent growth in the January-June period of this year, the highest among the local companies, said Rahman.
Square Pharmaceuticals, the local leader with around 20 percent of the total market share, has recorded an 18 percent growth in the April-June period.
Ahmed Kamrul Alam, assistant general manager of Square Pharmaceuticals, said quality products and growing health awareness among people are the main reasons behind the growth in sales.
Square launched some essential pharmaceutical products, including anti-fungal and anti-depression medicines in the April-June period, which also helped the company post more sales in local market, said Alam.
Currently, the market size of the local pharmaceutical industry is worth Tk 7,000 crore, said industry insiders.
There are 250 small, medium and large local and multinational pharmaceutical companies operating in Bangladesh. Of the companies, the top 10 -- Square, Beximco, Eskayef, Incepta, ACME, Opsonin, Renata, ACI, Aristopharma and Drug International -- take up nearly 70 percent of the total market, according to an IMS survey conducted in 2008.
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