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A Report on

SQUARE Pharmaceuticals Ltd

Submit To

Rabeya Rahaman
Course Teacher of Management Information System (MGT-5210)
Prepared By

Section: B
Serial No. 01. 02. 03. 04. 05. Name Alamgir Hossain Omar Faruk Rakibul Hasan Shafikul Islam Mamun Tania Sultana ID 094897 094898 094968 094921 094961 Program MBA MBA MBA MBA MBA

Letter of Transmittal...04 Acknowledgements......05 Executive Summary.06 Chapter One: Introduction 1.1 1.2 1.3 1.4 Origin of the Report.. 08 Objective of the Report .09 Methodology of the Report ...10 Limitation of the Report.11

Chapter Two: Pharmaceutical Sector in Bangladesh 2.1 2.2 2.3 Definition of pharmacy..12 Objectives of Pharmaceutical Industries13 Historical background of the pharmaceutical sector in Bangladesh..14

Chapter Three: An Overview of Square Pharmaceuticals 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13 Background of Square Pharmaceuticals.16 Corporate Information20 Organizational Structure.21 Number of Units in Square Pharmaceuticals..22 Number of employees.25 Vision Statement of Square Pharmaceuticals26 .Mission Statement of Square Pharmaceuticals.26 Product Scheme..27 Principle activities of Square Pharmaceuticals...29 Distribution Channel of Square Pharmaceuticals...30 Export Market of Square Pharmaceuticals.32 Latest Development33 Corporate Social Responsibility.36

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Achievements of Square Pharmaceuticals..37

Chapter Four: Findings 4.1 SWOT Analysis of Square Pharmaceuticals..39

4.1.1 Strengths....39 4.1.2 Weakness...41 4.1.3 Opportunities.42 4.1.4 Threats...42 Chapter Five: Recommendation and Conclusion


Recommendations for the Square Pharmaceuticals...44 Conclusion.45

List of Table:

Table-1: Corporate organizational result...20

Table-2: Number of employees...25

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February 16, 2012

Rabeya Rahaman Department of Management Jagannath University, Dhaka.

Subject: Submission of the Report. Honorable Madam, It is our great pleasure to submit the report titled `Report on Square Pharmaceutical Ltd` to you. We have prepared this report, as a part of the course Management Information system (MGT-5210). To make this report up to the standard we tried our best to fulfill the requirements by implementing the knowledge we have gather from the course. Thank you very much for providing us this type of opportunity and giving us the necessary guidance and direction needed for preparing the report. We have tried our level best to make this report holistic and informative enough. Besides this, there may be some shortcomings. I would be grateful if you consider those from excusable point.

Sincerely yours

Alamgir Hossain On behalf of Group SPARK MBA 3rd Batch, 2nd Semester Section # B Department of Management Jagannath University

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First of all we would like to thank the almighty because of successful completion of this report. We would like to thank our honorable Teacher Rabeya Rahaman, for providing us with the opportunity to work on project and gain a real life experience. We also thank all employees, workers and especially assistant Production Manager. Ahmed Qamrul Alam in Square Pharmaceuticals for giving his valuable time & cooperation & support in preparing this report. We also thank all our group members & friends who inspired us & helped us to build confidence and put us in a deep concentration to carry on our course work and supported us at the end with great excellence. We lastly would like to express our appreciation to our Jagannath University and we are eventually grateful to the University and its excellence that works for education encourages us and creates knowledge, as knowledge is power.

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Executive Summary
Square Pharmaceuticals Company Report provides a complete overview of the companys affairs. All available data is presented in a comprehensive and easily accessed format. The report contains the companys profile and information about the companys vision, mission principal activities, objectives, locations and organization structure. The report also includes financial information, SWOT analysis latest development analysis, opinions, social responsibilities, product scheme and current achievement. The SWOT-analysis provides information about the companys strengths, weaknesses, opportunities, and possible threats against it. This report provides relevant news, an analysis of R & D activity, distribution channel and stock price movements. The report also enables direct comparison to be made between Square Pharmaceuticals and its competitors.

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SQUARE Pharmaceuticals Ltd

Dedicated to advanced technologies

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Chapter One 1.0. Introduction 1.1- Origin of the Report

This report has been prepared to make a study on An overview of the SQUARE Pharmaceuticals Limited of Bangladesh as a part of the fulfillment of assignment required for the completion of the MBA program (2nd semester) of the business faculty of Management Studies of Jagannath University. The report was prepared under the supervision of Rabeya Rahaman, Lecturer of Jagannath University, Dhaka. We are very much thankful to her for assigning such types of project work.

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1.2. Objectives of the Report

The main object ives of the study are to learn how to prepare a report. Our honorable course teacher assigns us to prepare this report so that in the job market we can perform effect ively and efficient ly and also enlighten the goodwill of our universit y as well as our teachers. Other object ives of this report are:  To share the lesson learns.  To inform about the progress.  To analyze the inputs against the outputs.  To communicate the changes.  Analyze the recommendations.  Risk reduction preparation.  To plan accordingly for up-coming period.  To take quick decisions.

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1.4. Methodology of the Report

For smooth and accurate study everyone have to follow some rules & regulation. The study impute were collected from two sources. The sources are i. ii. Primary sources Secondary sources

Primary sources:
Primary sources of information are those that provide first-hand accounts of the events, practices, or conditions. In general, these are documents that were created by the witnesses or first recorders of these events at about the time they occurred. These information are collected from  Practical desk work  Face to face conversation with the officer  Direct observations  Face to face conversation with the client

Secondary sources:
Second-hand, published accounts are called secondary sources. They are called secondary sources because they are created after primary sources and they often use or talk about primary sources. Secondary sources can give additional opinions on a past event or on a primary source. Secondary sources often have many copies which we collected from  Annual report of companies  Files & Folders  Daily diary  Various publications of companies,  Website

The details of the work plan are furnished below: Data collection method: R e le v a nt d a t a fo r t h i s r e p o r t ha s b e e n c o l l e c t e d p r i m a r i l y b y d i r e c t investigations of different company personnel. Data sources: The information and data for this report have been collected from primary sources. The secondary sources of informat ion are article reports, websit es and different manuals. Some textbooks, journals, newspapers etc. have been consulted in order to build up the framework of the study. Data processing: D a t a c o l l e c t e d fr o m s e c o nd a r y s o u r c e s ha v e b e e n p r o c e s s e d m a n u a l l y a n d qualitative approach in general and quantitative approach in some cases has been used throughout the study.
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Data analysis and interpretation: Qualit at ive approach has been adopted for data analysis and interpretation taking the processed data as the base.

1.4. Limitations of the Report

On the way of our study, we have faced some problems that termed as the limitations of the study. In all respect following limitation and weakness remain within which we failed to escape by any means. These are follows: Budgeted time limitation: It was one of the main constraints that hindered to cover all aspects of the study. Confidentiality of data: Because of some divisional and confident ial problem, we could not get enough information. Every organization has their own secrecy that is not revealed to others. While collecting data some company personnel did not disclose enough information for the sake of confidentiality of the organization.

Data Insufficiency: Especially there is a lack of information about the determination of the companies applying different costing method and the level of costing applications in these companies .Sufficient books publications, fact and figure are not available. These constrains narrowed the scope of accurate analysis. If these limitations had not there; the report would have been more useful attractive.

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Chapter Two 2.0 Pharmaceutical Sector in Bangladesh

2.1. Definition of Pharmacy

Pharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs. The word derives (pharmakon), meaning "drug" or "medicine"[1] (the earliest form of from the Greek: the word is the Mycenaean Greek pa-ma-ko, attested in Linear B syllabic script[2]). The scope of pharmacy practice includes more traditional roles such as compounding and dispensing medications, and it also includes more modern services related to health care, including clinical services, reviewing medications for safety and efficacy, and providing drug information. Pharmacists, therefore, are the experts on drug therapy and are the primary health professionals who optimize medication use to provide patients with positive health outcomes. The word pharmacy is derived from its root word pharma which was a term used since the 15th 17th centuries. In addition to pharma responsibilities, the pharma offered general medical advice and a range of services that are now performed solely by other specialist practitioners, such as surgery and midwifery. The pharma (as it was referred to) often operated through a retail shop which, in addition to ingredients for medicines, sold tobacco and patent medicines. The pharmas also used many other herbs not listed.In its investigation of herbal and chemical ingredients, the work of the pharma may be regarded as a precursor of the modern sciences of chemistry and pharmacology, prior to the formulation of the scientific method.

The two symbols most commonly associated with pharmacy are the mortar and pestle and the (recipere) character, which is often written as "Rx" in typed text. The show globe was also used in English-speaking countries until the early 20th century. Pharmacy organizations often use other symbols, such as the Bowl of Hygieia which is often used in the Netherlands, conical measures, and caduceuses in their logos. Other symbols are common in different countries: the green Greek cross in France, Argentina, the United Kingdom, Belgium, Italy, Spain, and India, the increasingly rare Gaper in the Netherlands, and a red stylized letter A inGermany and Austria (from Apotheke, the German word for pharmacy, from the same Greek root as the English word 'apothecary').

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2.2. Objectives of Pharmaceutical Industries:

y To foster and advance, in the interest of public health, Pharmaceutical and Healthcare Science and Practice. To provide and disseminate to its members information concerning all aspects of pharmaceutical technology and product administration. To identify specific areas where there is a need for new information or the collecting together of existing information and to satisfy this need by organising meetings or by publishing monographs or articles in the European Journal of Parenteral and Pharmaceutical Sciences. To foster and encourage a spirit of friendly co-operation among the members of the society and to promote favourable relations between its members and the medical, pharmaceutical, hospital and related health professions. To cultivate and maintain co-operative relations with governmental departments and agencies, medical, pharmaceutical and related health organisations, the academic community and compendial bodies and other branches of the pharmaceutical and other pertinent industries; and to originate and participate in co-operative enterprises and undertakings with them. To encourage the education and training of personnel in the fields of pharmaceutical technology and product administration. To promote high standards in the production, quality assurance and administration of pharmaceutical and other appropriate products.

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2.3. Historical background of the pharmaceutical sector in Bangladesh

In Bangladesh the pharmaceutical sector is one of the most developed hi-tech sectors within the country's economy. After the promulgation 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. Due to recent development of this sector it is exporting medicines to global market including European market. This sector is also providing 97% of the total medicine requirement of the local market. Leading pharmaceutical companies are expanding their business with the aim to expand export market. Recently few new industries have been established with high tech equipments and professionals which will enhance the strength of this sector.

Regulatory Authorities
Two organizations, one government (Directorate of Drug Administration) and one semigovernment (Pharmacy Council of Bangladesh), control pharmacy practice in Bangladesh. The Bangladesh Pharmaceutical Society is affiliated with international organizations International Pharmaceutical Federation and Commonwealth Pharmaceutical Association.


Adco Pharmaceutical & Chemicals Ltd. Advanced Chemical Industries (ACI) Limited The ACME Laboratories Ltd. Aexim Pharmaceuticals Ltd Amico Laboratories Al-Madina Pharmaceuticals Ltd. Albert David (BD) Ltd. Aristopharma Ltd Beacon Pharmaceuticals Ltd. Beximco Pharma] Bristol Pharma Ltd Delta Pharma Limited. Eskayef Bangladesh Limited Gaco Pharmaceutical Limited GlaxoSmithKline Bangladesh Ltd. Globe Pharmaceutical Limited Healthcare pharmaceuticals Limited
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IBN Sina Jayson Pharmaceuticals Ltd. Incepta Pharmaceuticals MonicoPharma Ltd. Bangladesh Novo Healthcare & Pharma Limited Opsonin Pharma Limited Orion Pharma Limited Paradise Chemical Industries Popular Pharmaceuticals Limited Renata Limited Syntho Laboratories Limited Silva Pharmaceutical Limited Square Pharmaceuticals Supreme Pharmaceuticals Limited Sonear Laboratories Limited UniMed & UniHealth Pharma Limited Zenith Pharmaceuticals Ltd.

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Chapter Three 3.0. An Overview of SQUARE Pharmaceuticals 3.1. Background of SQUARE Pharmaceuticals
SQUARE today symbolizes a name a state of mind. But its journey to the growth and

prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player.
SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it

has been continuously in the 1st position among all national and multinational companies since 1985. It was established in 1958 and converted into a public limited company in 1991. The sales turnover of SPL was more than Taka 11.46 Billion (US$ 163.71 million) with about 16.43% market share (April 2010 March 2011) having a growth rate of about 16.72%.

SQUARE now has one of the largest and competent sales force and large distribution network

of its own, operated from 18 different locations throughout the country. A most dynamic skilled and dedicated marketing team comprising of pharmacists and doctors are at the core of the marketing operation. These highly skilled professionals play a crucial role in providing the necessary strategic guideline for the promotion of its product.
SQUARE Pharmaceuticals Limited has extended her range of services towards the highway of

global market. She pioneered exports of medicines from Bangladesh in 1987 and has been exporting antibiotics and other pharmaceutical products. This extension in business and services has manifested the credibility of Square Pharmaceuticals Limited

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SQUARE now has one of the largest and competent sales force and large distribution network

of its own, operated from 18 different locations throughout the country. A most dynamic skilled and dedicated marketing team comprising of pharmacists and doctors are at the core of the marketing operation. These highly skilled professionals play a crucial role in providing the necessary strategic guideline for the promotion of its product.

Square pharmaceuticals growth rate Pharma market growth rate in Bangladesh

SQUARE objectives are to conduct transparent business operation based on market mechanism

within the legal & social frame work with aims to attain the mission reflected by their vision.

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General Information
Company History:
y Year of Establishment (Initially as a Partnership) y Incorporated as a Private Limited Company y Technical Collaboration Agreement with Janssen Pharmaceuticals of Belgium (A subsidiary of Johnson & Johnson International Ltd.) y Technical Collaboration Agreement with F.Hoffman-La Roche & Co. Ltd. y Converted into Public Limited Company y Initially Public Offering (IPO) y Stock Exchange Listing (Dhaka & Chittagong) y Agreement with M/s. Bovis Tanvec Ltd. of UK for implementation of Dhaka Plant y Awarded ISO-9001 Certificate y Awarded UK-MHRA Certificate y Business Lines
: 1958 : 1964 : 1975

: 1984

: 1991 : 1994 : 1995 : 1996

: 1998 : 2007 : Manufacturing and Marketing

of Pharmaceutical Finished Products, Basic Chemicals, AgroVet Products and Pesticide Products

y Authorized Capital y Paid-up Capital y Number of Employees

: US$ 73.5 Million

(Tk. 5,000 Million)

: (Tk. 1207.22 Million) : 3,564

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Corporate organizational result

Figure in thousand: BDT

Turnover(Gross) Value Added Tax Turnover (Net) Gross Profit Net Profit before Tax Net Profit after Tax Shareholders Equity Total Assets Total Bank Borrowings Total Current Assets Total Current Liabilities Current Ratio




8,711,035 1,210,223 7,500,811 3,232,364 1,722,906 1,303,243 7,333,258

12731967 11574515 10522287 9,565,716 1740776 1582524 1438659 9083628 3741960 2055497 1520049 1,307,872 8,257,844 3,401,782 1,868,634 1,381,863 8,417,041

10991189 9991990 4527771 2487150 1839258 4116156 2261046 1672053

11203080 10184619 9258745

16907860 15370782 13973439 12,703,127 10,486,940 4750710 5872152 4659623 1.28 4318828 5338320 4236021 1.37 3926208 4853019 3850929 1.34 3,569,280 4,411,836 3,500,845 1.26 2,536,524 3,682,511 2,555,566 1.44

Table: Corporate organizational result

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3.2. Corporate Information

Corporate Focus: Our vision, our mission and our objectives are to emphasize on the quality of product, process and services leading to growth of the company imbibed with good governance Corporate Governance Top Management: Board of Directors As per provisions of the Article of Association, Board of Directors holds periodic meetings to resolve issue of policies and strategies, recording minutes/decisions for implementation by the Executive Management. Executive Management the Executive Management is headed by the Managing Director, the Chief Executive Officer (CEO) who has been delegated necessary and adequate authority by the Board of Directors. The Executive Management operates through further delegations of authority at every echelon of the line management. The Executive Management is responsible for preparation of segment plans/sub-segment plans for every profit centers with budgetary targets for every items of goods & services and are held accountable for deficiencies with appreciation for exceptional performance. These operations are carried out by the Executive Management through series of committees, sub-committees, ad-hock committees, standing committees assisting the line management.

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3.3. Organizational Structure

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3.4. Number of Units in SQUARE Pharmaceuticals

Square Pharmaceuticals has three GMP compliant manufacturing facilities.

1. Formulation Unit
Dhaka Unit: The Dhaka Unit is about 50 km away in the north of the capital city. Bovis Lend Lease, UK designed this plant. This is a state of the art manufacturing facility for oral solid dosage forms and all facilities have been developed meeting the requirements of cGMP CFR 21. Dhaka Unit started its operation at the end of 2002. In the year 2002, the representative of UNICEF, Copenhagen, audited Dhaka Unit facility and enlisted this plant for their global supply. Besides UNICEF audit, in 2003, David Begg Associates, an UK based consulting company also audited this facility and recognized that this plant fulfills the requirement of MHRA (United Kingdom Medicines and Healthcare Products Regulatory Agency) Pabna Unit: Pabna Unit is the first manufacturing facility of SQUARE Pharmaceuticals Ltd. and started operation in 1958. It is a modern plant that fully complies with WHO cGMP Requirements. It has earned ISO 9001 Certificate in 1998, for which Auditor was Orion Registrar Inc., USA. Again, its Quality Management System upgraded to 2000 version in 2002. Cephalosporins Unit: Dedicated and state-of-the-art Cephalosporins Manufacturing Facility is built as per the requirement of International GMP standard like EMEA, UK MHRA and US FDA. This world class facility manufactures Cephalosporin antibiotics in Tablets, Capsules, Dry Syrup and Injectable preparations.

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AgroVet Unit: With only three locally manufactured products, AgroVet division started its operation in 1998. We have at present there are 73 (133 pack sizes) locally manufactured & imported poultry & livestock products successfully present in the market. We locally produce and market have products of different therapeutic classes comprising antibacterial agents, anthelmintics, NSAIDs, antihistamin, antidiarrhoeals, vitamins, digestive stimulants etc. Besides, we also deal with versatile imported products like vitamins & mineral premixes, enzymes, growth promoters, antioxidants, liver tonic, mould inhibitors, toxin binders, salmonella killers, pH lowering agents, electrolyte & minerals, coccidiostat, larvicide, feed grade amino acid, respiratory stimulant, antimastitic products etc of renowned Overseas Principals of Holland, France, India, Germany, Thailand & China. During last one year we also commenced marketing activities of products of Schering Plough Animal Health, the biggest global veterinary pharmaceutical company. Besides we signed distribution agreement with renowned veterinary injectable manufacturer of UK, Norbrook Laboratories & DOW, and USA. Pesticide Unit Pesticide Unit is a newly formed unit dedicated to the diversification of agro business through agricultural chemicals and public health insecticides. The unit was established with the initial prospect of becoming the market leader in agrochemicals sector in Bangladesh. The main operations include repacking, selling and marketing of insecticides, fungicides, and herbicides of Chimac-Agriphar s.a., Belgium and FMC Corporation, USA. In addition to the formulation of mosquito control aerosol, all the machineries are pneumatic controlled and all the lightings are explosion proof. These features made them very adaptable to a wide variety of working conditions and also made them quite safe to operate. Beside this, we have highly qualified and well experienced personnel, sophisticated machineries and excellent teamwork environment to produce quality products meeting both the national and international standards. It has always been our prime goal to create a healthier environment and to bring more benefits to the future of mankind.

2. API Unit
The plant was established in 1992 and started commercial production in 1995. Until 1996 it was involved only for the internal consumption of SQUARE Pharma. From the year 1997 it started its full-fledged production and marketing to all top pharmaceuticals within the country including Aventis Pharma, Novartis Bangladesh Ltd., ACI Ltd., Beximco Pharmaceuticals Ltd., The Acme Laboratories Ltd, Eskayef Bangladesh Ltd., Opsonin Chemicals, Renata Ltd., Essential Drugs Co. Ltd. and many more.
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3. PET Bottle Unit

First integrated machine of its kind in pharmaceuticals industry of Bangladesh. Operation started from 2004. Production capacity/hour is 5000 pcs and it can run 24 hours continuously in a day. The integrated system starts with the raw material the PET resins and takes the process through to the finished container without any interruption, with total automated control of all phases of production. The machine is equipped with a self diagnosis program complete with synoptic table and precise indications of any faulty components or incorrect process parameters. For this there is a closed loop control system, active in each individual phase of the machine makes it a closed, self diagnostic system in which the parameters and changes in production are controlled rapidly and effectively with immediate action.

y y

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3.5. Number of employees

Division/Unit Internal Auditing Group Corporate Development Division Share Division HR Division Administration Division Quality Control Division R&D division Formulation Unit Pet Bottle Unit API unit Surgical Division Product Supply Division Sales and Marketing Division Export Division Total employee Number of Employees 30 41 36 44 41 184 75 1256 362 123 213 348 745 66 3564

Table-2: Number of employees

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3.6. Vision Statement of SQUARE Pharmaceuticals


We view business as a means to the material and social wellbeing of the investors, employees and the society at large, leading to accretion of wealth through financial and moral gains as a part of the process of the human civilization

3.7. Mission Statement of SQUARE Pharmaceuticals

Our Mission is to produce and provide quality & innovative healthcare relief for people, maintain stringently ethical standard in business operation also ensuring benefit to the shareholders, stakeholders and the society at large

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3.8. Product Scheme

Therapeutic Index (Sort by Therapeutic Class) Alimentary Preparations Antacids, Antiulcerants Anti-aphthous ulcer Antidiarrhoeals Antihemorrhoidal Antispasmodics GI Regulators Laxative Anesthetics General Anesthetics Local Anesthetics Antidiabetic Preparations Human Insulin Antifibrinolytics Beta Blockers Beta Blocker Diuretic Combination combination Calcium Antagonist-Beta Blocker combination Calcium Antagonists CCB - ACEI combination CCB-ARB combination CCB-Lipid lowering combination Diuretics Other Cardiac products CNS Preparations Anti-Alzheimers Anti-migraine Preparations Antidepressants Antiemetic and Antinauseant Antiemetics & Antivertigo Antiepileptic Antiparkinsonism Preparation Atypical Antipsychotic Central Muscle Relaxant Cereb/Periph vasotherapeutics Muscle Relaxant Reversal Agents Neuroleptic Non-narcotic analgesic Psycholeptic Antidepressants Tranquillizers Sedative-Hypnotic Typical Antipsychotic Drugs for Urinary Incontinence BPH Products Urge Incontinence Eye and Ear Preparations Antiallergic Eye Preparations Antiglucoma Preparations Antiinflammatory Eye Artificial Tears Corticosteroid Eye/Ear Ear Antiinfective and Antiseptics Eye Antiinfective and Antiseptics Haematinics Haematinics Lipid Modifying Preparations Fibrates Other lipid and triglyceride regulator Statins NSAIDs and Antigout Preparations Anti-Arthritis Supplement Anti-Gout Preparation Antirheumatic, Antiinflammatory Oral Contraceptive Emergency Contraceptive

Aromatase Inhibitor
Cytostatic Aromatase Inhibitor Cardiovascular Preparations ACE inhibitor combination ACE-Inhibitors ACEI Diuretic Combination Angiotensin Receptor Blocker Anti-Obesity Agents Anti-platelet Agents Antianginal Drugs Anticoagulant AT1 receptor blocker

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Other Antibacterials Aminoglycoside Antibacterial combinations Macrolides Tetracyclines

Thyroid Therapy Antithyroid Thyroid Supplement Topical Preparations Analgesic & Antiinflammatory Preparations Anti-itching and Moisturizer

Vitamin C Vitamin D Vitamin E Vitamin K Water Purification

Other Beta-lactam antibiotic except Penicillin and Cephalosporin Carbapenem Penicillins and Cephalosporins Cephalosporins Penicillins Quinolone Antibiotics Cough & Cold Remedies Decongestants & Other Nasal Preparations Dry Powder Inhaler Device Inhalant Antiasthmatic - Dry Powder Inhaler Inhalant Antiasthmatic Metered Dose Inhaler Intranasal Corticosteroids Nebulizer Preparations Oral Antiasthmatics Topical Nasal Antihistamine Systemic Antifungal, Antiviral and Antiprotozoal Agents Anti HIV Antiamoebics & Antianaerobes Antifungals Antivirals Mouth Antifungal Systemic Sex Hormone Estrogen Other sex hormone and similar Progestogens

Water Purification

Antiacne Preparations Antibacterial Antibiotic and Pain relief Antihistamine and skin protectant Antiinfectives with Corticosteroids Antiscabis Antiseptics and Disinfectants Antiviral Corticosteroid Combination Corticosteroids Emollient and Protectant Fungicides Mouth and Throat Preparations Non-steroid Steroid and anesthetic

Animal Health Products Almex-Vet Bolus Ampicin-Vet Injection Antihista-Vet Injection DB Vitamin Powder Liva-Vit Liquid Electromin Powder

Poultry Products
B-Com-Vit Liquid Boostbyd Liquid Breeder Premix Broiler Premix Choline Chloride powder Coc-Free Powder Es-ADE liquid

Vaginal Antiinfectives Vitamins and Minerals Anti-Oxidant Eye Vitamin Minerals Multivitamin without mineral Multivitamins and Multiminerals Vitamin B and B-complex Vitamin B12 Plain

Hameco-pH liquid

Aqua Products
Aquakleen Liquid Cevit -Aqua Powder Oxylife Powder Panvit-Aqua Liquid Resistol Liquid Square Aquamix Zeo-Fresh Page 28

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3.9. Principle activities of SQUARE Pharmaceuticals

SQUARE, strives for top quality health care products at the least cost reaching the lowest rungs

of the economic class of people in the country. We value our social obligations.
SQUARE owe his shareholders and strive for protection of their capital as well as ensure highest

return and growth of their assets.

SQUARE works for best compensation to all the employees who constitute the back-bone of the

management and operational strength of the company through a pay-package composing salary/wages, allowances, bonuses, profit participation, leave salary and superannuation & retirement benefits.
SQUARE works for the best co-operation of the creditors & debtors the banks & financial

Institutions who provide financial support when we need them, the suppliers of raw materials & suppliers who offer them at the best prices at the opportune moments, the providers of utilitiespower, gas & water etc. and the customers who buy our products & services by redeeming their claim in time by making prompt payment and by distributing proper product on due dates to our customers.
SQUARE strives for fulfillment of our responsibility to the government through payment of

entire range of due taxes, duties and claims by various public agencies like municipalities etc.
SQUARE works as responsible citizen, for a social order devoid of malpractices, anti-

environmental behaviors, unethical and immoral activities and corruptive dealings.

SQUARE strives for practicing good-governance in every sphere of activities covering inter alia

not being limited to, disclosure & reporting to shareholders, holding AGM in time, distribution of dividends and other benefits to shareholders, reporting/dissemination of price sensitive information, acquisition of shares by insiders, recruitment & promotion of staff, procurement & supplies, sale of assets etc. all that directly and indirectly affect the interest of concerned groups the shareholders, the creditors, suppliers, employees, government and the public in general.
SQUARE strives for equality between sexes, races, religions and regions in all spheres of our

operation without any discriminatory treatment.

SQUARE works for an environment free from pollution and poisoning. SQUARE works for the achievement of millennium development goals for the human


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3.10. Distribution Channel of SQUARE Pharmaceuticals

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Objective Supply Right products in Right place in Right time History : SPL opened first Depot at Barisal in 1995 Location Central Depot : Hospital Road, Salgaria, Pabna
Depot Dhaka Pabna Bogra Rangpur Khulna Barisal Comilla Mymensingh Chittagong Maizdee Sylhet Tangail Rajshahi Faridpur Naryanganj Jessore Brahamanbaria Dinajpur Address 355-356, Tejgaon Industrial Area, Dhaka-1208. Hospital Road, Salgaria, Pabna. 877/A, MS Road, Bakshi Bazar, Malati Nagar, Bogra South Guptapara,Kaminikutir Sub Post Office Rangpur5400 Alhamdulillah, 25 Usufe Road, Mirzapur, Khulna-9100 502/532 South Alekanda, 1 No. C & B Pool, C & B Road, Barisal. 400/363, Shishu Mangol Road, Kandirper Comilla. 5/A/04 & 5/A/05, Shaheb Quarter, Kachijuli, Mymensingh House No-1/C, Baijid Bostami Road, East Nasirabad, Chittagong-4000. 234/B, Hospital Road, Maizdee Court, Noakhali. Sabina Mohal, 44, Payra, Darshandewry, Dorga Mohalla, Sylhet. Biswas Betka, Dhaka Road, Tangail House # 175, Sector # 3, Upasahar Housing Estate, Sopura, Rajshahi-6202 Mission Road, Christian Mission, Police Line, Faridpur Holding No. - 5, Khanpur, Main Road Plot-1, Sector-10, Housing Estate Shaikhati, Bablatola, Dhaka Road, Jessore-7400 Bhadughar, B-Baria-3400 Bot-toli, Nayanpur, Dinajpur-5200 Phone (880-2) 8828775 (880-731) 66580 (880-051) 64747 (880-0521) 63588 (880-041) 732330, 724654 (880-0531) 53661, 56778 (880-081) 72320 (880-091) 55143 (880-031) 654423 (880-0321) 61683 (880-0821) 725298 (880-0921) 53488 (880-0721) 760877 (880- 0631) 63561 7632990 042162419 085157372 053163260

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3.11. Export Market of SQUARE Pharmaceuticals Highlights of the Export Operations

y y y y y

Exports pharmaceutical finished products since 1995 Offers quality products at competitive price Offers more than 250 off-patent and on-patent molecules Offers facilities for contract manufacturing Provides assistance in product promotion and training in overseas market.

Present Markets
SQUARE Pharmaceuticals is already supplying products to the following markets:

Europe: UK Asia: Afghanistan, Bhutan, Cambodia, Hong Kong, Iraq, Macau, Malaysia, Myanmar, Nepal, Papua New Guinea, Sri Lanka, Tajikistan, The Philippines, Vietnam, Yemen Africa: Comoros Islands, Eritrea, Gambia, Ghana, Kenya, Libya, Malawi, Mauritania, Mauritius, Mozambique, Niger, Rwanda, Sierra Leone, Somalia, Sudan, Tanzania South America: Belize, Costa Rica, Guatemala

Markets under Exploration

Asia: Iran, Iraq, Kuwait, Laos, Maldives, Mongolia, Qatar, Saudi Arabia, Thailand, UAE Africa: Algeria, Botswana, Central African Republic, Chad, Ethiopia, Ivory Coast, Nigeria, Rwanda, South Africa South America: Jamaica, Chili

Future Focus
y y Strengthen its position in the present markets Work is in progress to enter into regulated markets in Europe and United States

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3.12. Latest Development

Breakthrough in Heart Research

Researchers at the Utrecht University Medical Center, the Netherlands, and the Hubrecht Laboratory, also in Utrecht, have succeeded in growing cardiac muscle cells from adult human hearts. This major step forward in experimental cardiology is big news, if only because heart problems are the number one cause of death in the Western world. Up to now heart muscle cells - or cardio myocytes could only be grown from embryonic stem cells. The newly developed heart muscle cells behave exactly like natural heart cells and in the future will help repair damaged hearts. The scientists are hopeful that human testing can begin within three years. Crucial in this case is the fact that the stem cells are not embryonic, which means the whole ethical debate about the use of human embryos for scientific research can be avoided. But there are clinical advantages as well. Embryonic stem cells come with their own immune system and this can be incompatible with the immune system of the patient. The patient's body may identify the foreign stem cells as being alien and attack them, so the treatment is ineffective. It's also extremely difficult to grow high-quality cardiac muscle cells from embryonic stem cells, and even a single faulty one can produce tumours - the patient gets cancer on top of heart failure. But the Utrecht scientists use the patient's own cells to grow their cardiac muscle cells, so there is no problem with rejection. And they are cardiac cells to begin with, which greatly reduces the possibility of one of them turning cancerous. Another advantage of the approach taken by the Utrecht University cardiologists is that they don't need any donors for their scientific research. During regular heart surgery, such as bypass surgery or valve replacement, the oracle, a little bit of heart tissue that doesn't serve any purpose, is normally just thrown away. Now the researchers are standing by to take this bit of flesh to their laboratory in order to harvest the precious cardiac stem cells as quickly as possible.

Non-Invasive Treatment for Uterine Fibroids

InSightec Ltd. has developed the only FDA approved MR Guided Focused Ultrasound Surgery (MRgFUS) device, which has been used to treat uterine fibroids non-invasively, minimizing trauma, morbidity and recovery time. In addition to enhancing patient care, the procedure has a significant economic impact reducing overall medical costs when compared to conventional surgery. Uterine fibroid is a pervasive condition that impacts up to 70% of women of childbearing age and can lead to serious symptoms.

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The companys device is the worlds first non-invasive surgery system to combine focused ultrasound and magnetic resonance imaging. It received its European CE Marking in 2002 and U.S. Food and Drug Administration approval in 2004 for treating uterine fibroids The MRgFUS procedure takes between two to four hours depending on the size of the fibroids treated. Patients are able to go home the same day and return to normal activities within a day or two. Hysterectomy is the most common treatment for uterine fibroids, and is a major surgery requiring hospitalization and significantly longer recovery times. Many women have chosen to suffer from the severe symptoms that fibroids cause rather than undergo hysterectomies or other invasive surgical procedures. Uterine fibroids carry a significant economic burden in terms of the cost of treatment, hospitalization and work absenteeism. Since the MRgFUS procedure is performed on an outpatient basis without any hospitalization and allows the patient to return to normal activity within one to two days, it offers cost and comfort advantages to patients, healthcare providers and employers as compared with other treatment modalities. InSightec is carrying out an extensive research program to conduct clinical trials using this technology in various cancerous applications including breast, bone metastases, liver, brain and prostate, while continuing clinical trials in uterine fibroids. About the device This is the first system to use the breakthrough MRgFUS technology that combines MRI to visualize the body anatomy, plan the treatment and monitor treatment outcome in real time and high intensity focused ultrasound to thermally ablate tumors inside the body non-invasively. MR thermometry, provided uniquely by the system, allows the physician to control and adjust the treatment in real time to ensure that the targeted tumor is fully treated and surrounding tissue is spared. This has been recognized for its innovation and potential to serve mankind and has been awarded the 2004 European Unions Information Society Technologies grand prize, The Wall Street Journals 2004 Technology Innovation Awards, Advanced Imagings 2005 Solutions of the Year, the Red Herring 100 Europe 2007 Award and currently one of the World Economic Forum Technology Pioneer 2008.

Breakthrough Fertility Research

A research team from Edinburgh University has developed the new method, which enabled them to grow hundreds of eggs in a laboratory, the first time such a feat has been achieved. The process works by removing a piece of ovary from the woman, which contains hundreds of immature eggs. These are then frozen, to be thawed at a later date and exposed to a chemical treatment to encourage growth. Once the eggs reach full growth, then they can be fertilised, and the embryo implanted in the womb.

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The study has the potential to revolutionise fertility treatments due to the multitude of eggs that were successfully frozen, which amounts to many more than allowed by traditional IVF techniques. It also takes younger eggs, which were found to survive freezing more effectively than mature eggs. Not only could the research prove beneficial to women left infertile by medical treatment, it could also be used for women who want to wait and have children in later life. 'Women who face infertility as a result of chemotherapy, or who want to put their biological clock on hold, could benefit from this system. However, there is a lot more research to be carried out before this technique could be safely applied within a clinical setting,' the researcher adds.

Breakthrough In Gene Therapy For Cancer

A revolutionary cancer treatment using microscopic magnets to enable 'armed' human cells to target tumours has been developed. A new study shows that inserting these nanomagnets into cells carrying genes to fight tumours, results in many more cells successfully reaching and invading malignant tumours. Using human cells as delivery vehicles for anti-cancer gene therapy has long been an attractive approach for treating tumours, but these cells usually reach tumours in insufficient numbers to effectively attack them. Now, a new 'magnetic targeting' method has been developed to overcome this problem by the researchers at the University of Sheffield, the University of Keele, and at the University of Nottingham. The technique involves inserting nanomagnets into monocytes - a type of white blood cell used to carry gene therapy - and injecting the cells into the bloodstream. The researchers then placed a small magnet over the tumour to create a magnetic field and found that this attracted many more monocytes into the tumour. The head of the laboratory in which the work was done, explains: "The use of nanoparticles to enhance the uptake of therapeutically armed cells by tumours could herald a new era in gene therapy - one in which delivery of the gene therapy vector to the diseased site is much more effective. This new technique could also be used to help deliver therapeutic genes in other diseases like arthritic joints or ischemic heart tissue." The team are now looking at how effective magnetic targeting is at delivering a variety of different cancer-fighting genes, including ones which could stop the spread of tumours to other parts of the body

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3.13. Corporate Social Responsibility

Beyond Business SQUARE care
SQUARE Pharmaceuticals Ltd. is one of the signatory of UN Global Compact in Bangladesh SQUARE supports global business community to uphold social issues in business operations

and being convinced of the benefits which will accrue out of voluntary adherence to universally recognized social values in transaction of businesses.
SQUARE consider the interests of customers , employees , shareholders , communities ,

and ecological considerations in all aspects of their operations. This obligation is seen to extend beyond their statutory obligation to comply with legislation.
SQUARE activity goes well beyond the sphere of business. As socially conscious and responsible corporate body SQUARE is committed to the improvement of the society as a whole. SQUARE is involved in the welfare program of the acid burn victims and the SQUARE sponsored Meril-Prothom Alo festival has become a national calendar event. SQUARE helps

many NGO's in their effort to make available healthcare to the disadvantage population of the Country. It sponsors programs to build awareness on the healthcare need. SQUARE is also a major sponsor of sporting events in the country.


Social Events

Medical community



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3.14. Achievements of SQUARE Pharmaceuticals

SQUARE Pharmaceuticals has been awarded "Enterprise of the Year 2009" An award is not just a trophy. It means recognition of innovations, an inspiration that will make some local businesses confident to compete with global giants. So said the winners of Bangladesh Business Awards 2009, given by The Daily Star and DHL Express. Square Pharmaceuticals Ltd. the leading and the largest pharmaceutical company in Bangladesh has won the crown of 'best enterprise of the year 2009'. The award recognises the $164 million-a-yearturnover company for its successful entry to overseas markets. Bangladesh Bank Governor Atiur Rahman, who gave away the awards, saluted the private sector, saying that they are driving the economy towards global standards. Mr. Anjan Chowdhury, Director, Square Pharmaceuticals Limited received the award on behalf of Square on 17th April 2010.

BSJA gives sports awards in colorful function

Bangladesh Sports Journalists Association (BSJA) on Tuesday gave away awards to 111 sports personalities for the last seven years 'Kool BSJA Awards 20022008' at a colorful function at the NSC Tower. It turned into a get-together for the sports personalities at the NSC Tower on occasion of the Kool BSJA Awards. Star sportsmen, coaches, organizers, sponsors are among others were present to attend this colorful function Information and Cultural Affairs Minister Abul Kalam
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Azad graced the function as chief guest while State Minister for Youth and Sports Ahad Ali Sarker and Managing Director of Square Toiletries Anjan Chowdhury were also present as special guests. The chief guest, Minister of Information and Cultural Affairs Abul Kalam Azad remarked that the award will motivate players, coaches, organizers and sponsors to give more to the development of sports in the country. "I hope you will take this recognition as a motivation to raise our flag high in the international sports arena," Azad urged the awardees. Besides, State Minister for Youth and Sports Ahad Ali Sarkar said, "The players should give all their efforts according to the capabilities." He said that the government will give all out support to the players.. One of the leading Men's grooming brands of the country - Kool, a popular brand of Square Toiletries Ltd, was the title sponsor of the award giving program.

Ceylon National Chamber of Industries (CNCI) Gold Award to SQUARE Pharma

Square Pharmaceuticals Ltd. the leading and the largest pharmaceutical company in Bangladesh has been accorded Gold Award as an Achiever of Industrial Excellence, amongst the SAARC countries for the year 2007 by CNCI. This award was conferred to SQUARE at a grand presentation ceremony attended by the dignitaries both from the SAARC and other foreign countries at the Grand Ballroom of Colombo Hilton Hotel on the 6th of July, 2007 in Sri Lanka. The CNCI Special SAARC Regional Country Award, is accorded to the best business entities in the SAARC countries which have achieved the Highest Industrial Excellence in their home countries and have also gained international prominence in conducting business in the most professional and ethical manner. By winning this highly prestigious award Square Pharma has proved once again to be a business entity with superior management practices, product excellence and business ethics
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Chapter Four 4.0. Findings

4.1 SWOT Analysis of the SQUARE Pharmaceuticals Ltd.

A SWOT analysis identifies and assesses the strengths, weaknesses, opportunities and threats an organization faces. SWOT analysis of the SPL illustrates to upper management what the company is excelling in, what improvements need to be made, where growth is possible and what preemptive measures need to be taken to protect shareholder or company value.

4.1.1 Strengths
The strength of Square Pharmaceuticals Ltd. lies in its diversified products and dosage forms. SPL has been producing solid products like tablets and capsules and liquid products like syrup, suspension and solution, as well as semisolid products like cream and ointment. It is the pioneer company to manufacture and market nasal sprays, inhalation aerosols and suppositories in Bangladesh. Colicon is its injectable product. It is a preparation of Ceftriaxone, which is considered as a breakthrough antibiotic in the history of medicine. Recently Colicon is predicted to be one of its leading brands in terms of sales revenue. The company has lot of diversified products like, Ofkof , Tusca, Neotec, Seclo, etc. Its strengths can be analyzed as under.
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1. SPL has skilled scientists/technicians/management personnel at affordable cost leading to low cost of innovation/ manufacturing/capex costs/ expenditure to run cGMP(current Good Manufacturing Practice) compliance facilities and high quality documentation and process understanding. 2. SPL has well developed chemistry, R & D and manufacturing infrastructure with proven track record in advanced chemistry capabilities, design of high tech manufacturing facilities and regulatory compliance. 3. The healthy domestic market with rising per capita expenditure is another significant strength enabling achievement of economies of scale. SPL also has a strong marketing & distribution network. 4. It has Company Strength & product strength, Company strengths effects positively on the product, & products strength also effects positively on the Company. 5. Square has highly skilled sales forces & very efficient & wide distribution channels. 6. Square ranked & held the First position in Pharmaceuticals Industry since 1985, which means it is in the top for last 28 years, 7. Being in the top for this long time resulted in a very positive impression for all our products in the minds of the doctors & patients already, it occupies a good position it their minds. 8. The built in positive impression on our products which is in the minds of the doctors & patients helps us to get a very good response from the market for any product we introduce in the market. 9. We can say very confidently that the number of sales force of the company, their capability, Training &selling skills are in better condition & position than any other company in the industry. 10. Square follows very transparent marketing activities; there is no misleading or fraud, thats why it enjoys a good reputation in the market. 11. Square maintains high quality standards for its products, that why it enjoys a good position in the market 12. In production of Squares Omeprazole Injection & DMP quality issues are followed & maintained properly. 13. The desired AC TC level are ensured 100%

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4.1.2 Weaknesses
The weaknesses of the SPL is the analysis of the internal industry components that are not providing significant added value or are in need of improvement. The internal components can include physical resources, human capital or features the company can control. For example, the SPLs weaknesses could include high-risk business modeling, disengaged Board of Directors, dated medical equipment, poor branding, low staff morale or diseconomies of scale. More weakness given below: Square has introduced the Omeprazole Injection late in the market Omeprazole Injection has introduced already by Incepta & popular before Square Square has lost the opportunity to be the first introducer & cant enjoy the benefits of it. Square needs to consider the loss of late introduction & work on market considering this disadvantage. 5. Low investments in innovative R&D continue to be a major weakness of Square Pharmaceutical Ltd. 6. SPLs lack the ability to compete with MNCs for New Drug Discovery, Research and commercialization of molecules on a worldwide basis due to lack of resources. 7. Strong linkages between industry and academia which are essential for growth of the industry is lacking in SPL 8. Rapidly increasing costs of skilled manpower such as scientists/ regulatory compliance personnel / pharmaceutical lawyers/ international business development personnel is pushing up the cost of innovation. 9. Sales and marketing knowledge is inadequate due to lack of understanding of international Pharmaceutical marketing/pricing practices and market environment in various countries. 10. Inadequate manufacturing practices. 1. 2. 3. 4.

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4.1.3 Opportunities
The opportunities of the SPLs is the analysis of the external industry components that provide a chance for the company to grow in some capacity or gain a competitive edge. The external components should be environmental factors or aspects outside the companys control, yet reflective of the business marketplace. It can be analyzed as under. 1. In the market, the number of Antiulcer patients is increasing, when the number of patients increases the possibility of a good return from the required drug increases. 2. On that perspective we are seeing a good opportunity for our Omeprazole Injection since the market is growing. 3. Incredible export potential 4. New innovative therapeutic products. 5. Drug delivery system management. 6. Income is increasing day by day. 8. Clinical trials & research 9. Due to the cost advantage in contract manufacturing & Research multi-national companies find it compelling to shift their production bases to countries offering such cost advantage. 10. Licensing deals with MNCs for NCEs (New Chemical Entities) and NDDS (New Drug Delivery Systems) offer new opportunities for SPL 11. Marketing alliances for MNC products in domestic and international market is another emerging opportunity. 12. There is a possibility of greater returns from other countries of the world by exporting.

4.1.4 Threats
The threats of the pharmaceutical industry is the analysis of the external industry components that could create an opportunity for the SPL to decline, atrophy or lose some competitive edge. The external components should be environmental factors or aspects outside the industrys control, yet reflective of the business marketplace. For example, the pharmaceutical industrys threats could include increased government regulation, a declining economy, increasing research and development (R&D) costs or a decrease in the global population. The threats of SPL are discussed below.
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1. Some other companies are planning or in process to introduce Omeprazole Injection in the market. 2. When they will introduce, they will through a competition in the market as well. Square needs to consider the competition in planning of their marketing strategies to respond to this threat & fight back. 3. R&D efforts of Bangladeshi pharmaceutical companies are hampered by lack of enabling regulatory requirement. 4. Export effort is hampered by procedural hurdles in Bangladesh as well as non-tariff barriers imposed abroad. 5. Lowering of tariff protection has increased competition in domestic markets resulting in erosion of profitability. 6. Mergers and acquisitions by other companies may completely change condition of the pharma market. 7. Small number of discoveries. 8. Competition from MNCs. 9. Transformation of process patent to product patent (TRIPS). 10. Outdated Sales and marketing methods. 11. Limited knowledge and experience base. 12. Pricing and reimbursement level could restrict use.

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Chapter Five 5.0 Recommendation and Conclusion

5.1. Recommendation
1. Quality and control: According to international standard square pharmaceuticals ltd. should maintain their product quality. 2. Local market share: At present in Bangladesh square pharmaceuticals is the market leader in pharmaceutical sector. Its followers and competitors always try to increase their percentage of market share. So square pharma concentrate more to increase his market share. 3. Dynamic sales strategies: Due to the customer complaint and the lack of guidelines to prevent untrained sales staff from serving customers, we recommended that square pharma should take dynamic sales strategies for higher customer satisfaction. 4. Foreign market: Though SPL captured Asia, Africa, Middle East pharmaceutical market but the Europe market till now un-captured. So square pharma should concentrate more in Europe market. 5. Compensation: In the light of the employee's complaint, square pharmaceuticals should take proper compensation policy. 6. Staff training: Though SPL is a leading company but its maximum staffs are not well trained. So company should arrange training program. 7. Monitoring new staff: To get better performance the authority of the company should monitor their new staffs carefully.

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1. Ahmed Qamrul Alam Assistant Production Manager, Square Pharmaceuticals Ltd. 2. Abdul Munnaf Medical Representative, Square Pharmaceuticals Ltd. 3. 4. 5.

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