The Drug Policy is under review to meet the needs of the present time. It is a widely available. Price Since the local government strictly controls price of pharmaceutical products, there is a very negligible price difference. Major growth in export of pharmaceuticals has been achieved in the participating countries those who are going to attend the Asia HealthCare 2004. However, the local and foreign banks working in Bangladesh have been supporting export activities of any kind through extending their foreign trade services. Within this broad approach at least two business models are discernable: i Super Core Model involving the search for, and distribution of a small number of drugs from Chronic Therapy Area that achieve substantial global sales.
Lead time of import depends on country of origin and mode of transports. Increasing trend in the export of pharmaceuticals has continued till this year. As more people are living in relatively developed areas, the demand for medicine is also rising. Recently few new industries have been established with hi tech equipments and professionals which will enhance the strength of this sector. A few companies dominate the whole medicine market. These two documents produced tremendous positive effects on rapid development of the local pharmaceutical sector and gradual improvement in the drug sector for the country.
On the other hand, the constant natural disasters provide opportunities to pharmaceutical companies to boost its. Besides, out of the total domestic requirement of medicines almost 95 per cent is met by the local manufacturing and Bangladesh also exports formulations to 27 countries around the world. Because of the increased frequency in natural disasters, people prefer to live and work in cities other than in villages. The exporters also take the following promotional measures for trade promotion: a Incentive to the local agents b Inviting local agents for sales meeting in the country c Setting up marketing office in the overseas d Contacts with the regulatory authority and the ministry e Sponsoring participation of seminar of Doctors in Bangladesh f Distribution of literature Export incentives provided by the Government There is no provision for cash incentives in Bangladeshi pharmaceuticals exporting. Bangladesh mainly concentrates on this category, as labor cost is one of the lowest in the world. All the companies in Bangladesh have enlarged their physical size with huge success.
A huge amount of people have been trained well to successfully operate the pharmaceutical companies around the country and outside as well. Square Pharmaceuticals leads the charge, commanding an 18. A new company should be well prepared with all sorts of planning like marketing and promotion, procurement and production, distribution and delivery, sound financial management, innovative product development. The national drug policy and the regulatory control policies are yet to achieve best results for a healthy growth of the pharmaceutical industry. There is growing private hospital sector, largely based in Dhaka, which caters to the well-off.
Terms Terms and conditions of sales are almost same for every company, since the profit margin is almost same for every product. These are marketed by several companies under different brand name, where the formulation of this product is almost same. According to industry sources, the formulation industry in Bangladesh currently grows at the rate of 22 per cent. Drug procurement i Drugs and pharmaceuticals may be procured by local purchase or import, and by receiving as donation or gift. Demand is positively related to the changes in disposable income.
Governmental legislation has had an important role in shaping these efforts. Table of Contents Introduction: 1 Bangladeshi Pharmaceutical Industry: 2 Industry Analysis: 2 Competitive Force 1: Rivalry among Existing Firms 3 Competitive Force 2: Threat of New Entrants 3 Competitive Force 3: Threat of Substitute Products 3 Competitive Force 4: Bargaining Power of Buyers 4 Competitive Force 5: Bargaining Power of Suppliers 4 Competitive Strategy Analysis: 5 Cost Leadership: 5 Product Differentiation: 5 Corporate Strategy Analysis: 6 Conclusion:………………………………………………………………………………………………………7 Reference: 8 Introduction: Bangladesh is one of the ten most populous countries in the world. Optimizing therapy should improve outcomes and decrease overall expenditures associated with a disease. Products are released only after review by Authorized person and that increase the value of the product. Market prospects and market entry strategy 1. The demand of pharmaceuticalraw materials has increased in the recent years and will increasefurther in the coming years since the production volume of the localcompanies is increasing day by day due to increased localconsumption and export.
Export financing No special credit facility or system exists for financing export of pharmaceutical products. The value of locally produced medicines rose from Tk 1. A large pool of sales force has been developed over the last 22 years who can take the products to the doorstep of the end users through 120,000 retailed Pharmacists. Origins and Evolution 2 2. There are about 231 companies in this sector and the approximate total market size is about Taka 76,500 million per year of which about 97% of the total requirement of medicines is created by the local companies and the rest 3% is imported. Unfortunately, Pfizer faced challenges by macro-environment forces that affect their sales volume decline dramatically in 2011.
Studies have shown that people in urban areas tend to consume more pharmaceutical products compared to people living in rural areas. In this study it is tried to find out what types of strengths, weaknesses, opportunities and threats the pharmaceuticals companies face in Bangladesh. This inspection is a critical part of the drug application approval process. Formulations development is going on continuous basis in many companies irrespective of their size. Subsidization on cancer medicines is strongly demanded. Main weakness with the local companies is the dependency on the imported raw materials. Bangladesh mainly concentrates on this category, as labor cost is one of the lowest in the world.
This means that there is still a huge opportunity for dietary supplements. As with many countries worldwide, drug promotion and marketing make up a very large part of the activities of pharmaceutical companies in Bangladesh. Adequate secondary or tertiary care is beyond the reach of all but a very few people. There were 25 medium sized local companies which manufactured 15% of the products and the remaining 10% were produced by other 133 small local companies. Furthermore, higher levels of education about the importance of various consumer health products in large cities.
With a history since 1950s, the industry has now turned one of the most successful pharmaceuticals manufacturing industry among the developing countries. The aim of this paper is to provide global investors with an outline on the challenges and prospects for the Bangladesh economy as well as investment opportunities. However, if local production of any drug falls short of need for any reason, or in case of emergency arises, this condition may be relaxed by the Government for a specified period. Sheltech Panthokunjo 17 Shukrabad, West Panthopath Dhaka 1207 Bangladesh Phone: +880 2 9128976, 9101730-32, 9102850-53 Fax: +880 2 9134054, +880 2 9134096 email:info popularbd. Restricting drug use through formularies or higher co payments might result in lower utilization of medicines, but studies have found that doing so creates higher costs through increased hospitalization and other health problems. A few companies dominate the whole medicine market.