Conclusion
The pharmaceutical industry started to
be successful from 1982 and still it is playing vital role in manufacturing
sector. The Beximco Pharma is the 3rd largest company in Pharma
industry has started its journey from 1976 and began commercial production
from1980. With a large amount of production it has met local demand and
exported medicine internationally. With lots of key success it has some gap in
quite success factors area. It has big share market but it is growing not
positively than other less share marketed Pharma companies are growing very
fast. It only manufactures and markets the pharmaceutical finished formulation
products, large volume of Parenterals and Active Pharmaceutical Ingredients
(APIs). Rather, Square Pharmaceuticals Ltd is producing herbal, nutraceutical and ayurvedic medicine.
Moreover it is manufacturing and importing poultry & livestock products successfully. Beximco Pharma has
research and development facilities but it should utilize more systematic and
technological methods to innovate new categories product to lead in the market.
It should apply most strong and successful approaches and strategies so that it
can earn more profit, invest more in different industry to capture most market
share in Bangladesh. Beximco Pharma is
exporting its medicine around 48 countries in the world but to be most
successful with global accreditation it should exports rest of countries in
Asia.
Recommendations
Beximco Pharma has great span to lead in
pharmaceutical industry because it already has big share market. It can apply and
implement different projects and programs in three terms like:
Short
term: It can bring new categories medicine like herbal, nutraceutical and ayurvedic or
allopathic medicine within 6 months to 1 year as these medicines’ treatment has
practice in Bangladesh and has large demand among mid level to poor level
people and export in the globe.
Medium term: It can expand its
industry within next 2 to 5 years by segmenting different product lines with
large scale and increasing manufacturing capacity. It can capitalize to expand
its group and to lead among all industry.
Large term: It can reach its all
products at every door in Bangladesh with other countries in Asia. It can stand
as like garments industry with qualified products and revolutionary change in
medicine industry through core concentration and powerful analysis in medical
world rest of thousand years
References
§ Source 4.Bangladesh Pharmaceutical Index
2013(1st Quarter).
§ Source 5: Pharma Barta
§ Source 6: Annual Report of Beximco
Pharmaceutical Ltd in 2012 and 2013.
§ Source 7: Financial Management by Prof. M.
Shahjahan Mina
§ Source 10: Bangladesh Economic Review 2014
§ Source14: Bangladesh Bureau of Statistics. Note: Figures in parentheses indicate rate
of growth
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