Top Listed Pharmaceutical Companies in Bangladesh
Since the early 1980s, the pharmaceutical sector in Bangladesh has been transforming and evolving. It is one of the country’s most advanced technological and knowledge-based sectors. After four decades of hard work, Bangladesh is now regarded as the region’s emerging generic medicine manufacturing hub. There are approximately 257 licensed pharmaceutical manufacturers in Bangladesh, of which about 150 are functional, according to the Bangladesh Association of Pharmaceutical Industries (BAPI) and the Directorate General of Drug Administration (DGDA). In FY 2020–21, the industry had an export revenue of $169 million from the export of medicines to 150 countries. The pharmaceutical sector is growing at an average rate of more than 15 percent (15.6%) annually. According to IQVIA data, the top ten companies hold around 70% of the pharmaceutical market share. Square Pharmaceuticals Limited has the highest market share among the leading companies, more than 17%.
Many pharmaceutical manufacturing companies are listed in the capital markets of Bangladesh under the Pharmaceuticals & Chemicals sector. The proportion of the total market capitalization of the listed pharmaceutical manufacturing companies is more than 10% of the total market capital of the Dhaka Stock Exchange. This article will introduce you to some of the top listed pharmaceutical companies in Bangladesh based on market capitalization and annual revenue generation, along with some key fundamental information about them.
Square Pharmaceuticals Limited
Square Pharmaceuticals Limited is the most prominent pharmaceutical company in Bangladesh. The company began operations in 1958 and now delivers high-quality products all around Bangladesh and exports to many countries worldwide. In 1991, the pharmaceutical manufacturing company was converted into a public limited company, and in 1995, it was publicly listed on the Dhaka Stock Exchange. Square Pharmaceuticals currently produces a wide range of medicines, including tablets, syrups, capsules, injections, infusions, suppositories, and insulin. Aside from medications, the company also produces basic chemicals, animal health products, agro vet products, and pesticides.
Renata Limited is one of Bangladesh’s top pharmaceutical and animal health product manufacturing companies. It ranks as Bangladesh’s fourth-largest pharmaceutical company in terms of market share. In 1972, the company started operating as Pfizer Limited. However, the name of the business was changed to Renata Limited after all shares of Pfizer Limited were sold to local Bangladeshi shareholders in 1993. Renata Limited is using ten factories at three manufacturing sites in Bangladesh to produce its products. Renata not only distributes medications in rural and urban areas but also exports them abroad.
Beximco Pharmaceuticals Limited
Beximco Pharmaceuticals Ltd. is the flagship company of Beximco Group which specializes in generic medication and produces therapeutic nutrition products, active pharmaceutical ingredients, and lifesaving intravenous fluids. The company was incorporated in 1976, and it started operating in 1980. According to market share in Bangladesh’s domestic pharmaceutical industry, the company is the third-largest pharmaceutical manufacturer in the country. It currently produces more than 300 generic drugs distributed under more than 500 distinct brands. Additionally, Beximco exports goods to more than 50 countries, including the USA, the EU, Australia, and Canada.
The ACME Laboratories Limited
Another reputable pharmaceutical company in Bangladesh is ACME Laboratories Ltd. which belongs to the ACME Group. The company started its journey in 1954. It produces medicines in four categories: pharmaceuticals, herbals and nutraceuticals, ayurvedic, and veterinary. By exporting its products worldwide, it has solidified its presence in South East Asia, Africa, and Central America.
Orion Pharma Limited
Orion Pharma, a subsidiary of the Orion Group, was established as a manufacturer of pharmaceutical products in 1965. Over the past few years, it has consistently exceeded the market growth by a considerable margin. Currently, the company has placed itself among the top pharma companies in Bangladesh. It offers high-quality medications and healthcare services under 115 brands and 250 different presentations.
Beacon Pharmaceuticals Limited
Beacon Pharmaceuticals Limited first went into business in 2006. Beacon is currently one of the top oncology pharmaceutical companies in Bangladesh. The company produces more than 200 generic medications as well as 65 oncology products. Beacon exports its medicines to the countries in Asia, Africa, Europe, and Latin America after satisfying domestic demand. It is the first company in Bangladesh to begin exporting cancer medications abroad. Additionally, it has also released a number of first-ever generic medicines globally.
The pharmaceutical companies are listed under the “Pharmaceuticals & Chemicals” sector of the Dhaka Stock Exchange. There are currently 32 companies listed in this sector. Among them, 14 companies are related to the pharmaceutical industry. This article has incorporated six companies that manufacture pharmaceutical products based on annual top-line (revenue) generation and current market capitalization. There are also other companies such as: ACI, ADVENT, AMBEEPHA, CENTRALPHL, IBNSINA, IBP, SILCOPHL, and SILVAPHL. Currently, another pharmaceutical company (Navana Pharmaceuticals Ltd.) is also waiting to get listed on the DSE through the process of an IPO. The pharmaceutical industry has a bright prospect which is in line with the overall economic growth of the country, rising per capita income, increasing life expectancy of the general population, and also increasing exports. Besides, the API park, which is being set up in Munshiganj, will help pharmaceutical companies enhance their profitability as it will substantially reduce their cost of production. Thus, the capital market performance of the pharmaceutical companies is expected to be optimized far more in the future, which will be boosted by the financial performance growth of the companies. Hence, the proportion of market capitalization in this sector is also likely to be increased.