Beximco Pharmaceuticals Ltd (BPL), the leading pharmaceutical manufacturing company in Bangladesh, is currently setting up a new formulations plant conforming to US FDA standards to meet the growing demand both at home and abroad. With this plant nearing completion, the company is getting ready to export its products to the US and the European markets

For nearly two decades, BPL''s products have been the trendsetters in the country''s pharmaceutical industry. The company, which started operations in 1980 with products made under license of Bayer AG Germany; followed with the products made under license of Upjohn Inc. In 1983 BPL launched Aristovit-B, its much-acclaimed Vitamin B Complex tablet.

At present, the company holds around 16 per cent share in the domestic market, which is estimated at $308 million. According to source in the company, while Pharmaceutical companies in many developed countries have lost their luster, the business is still highly attractive in Bangladesh.

BPL is at present an industry leader in the country as many of its products are brand leaders in their respective fields. The company produces pharmaceutical specialties of uncompromising quality. Its comprehensive range of about 80 formulations, cover all major therapeutic groups. BPL''s products come in tablet, capsule, powder, liquid, cream, suppository and inhaler forms.

In Bangladesh, BPL introduced the concept of marketing Branded Generics. The company stands out for its strong product differentiation, progressive management, and aggressive exploration of opportunities, such as penetration of international markets, introduction of newer drugs and high tech dosage forms.

Having a good relationship with the medical community and an innovative marketing approach, BPL could create a distinguished brand image in the market. The company has identified the key areas that will support future growth like strong ties with the medical community, a comprehensive management information system and a team of highly motivated and skilled employees.

However, the commissioning of BPL''s basic chemicals unit in 1990 was the most significant milestone in the history of the country''s drug industry. The plant not only met 90 per cent of the country''s demand for two vital raw materials, ampicillin and amoxycillin but also started selling these to overseas markets. BPL received the Export Gold Trophy in 1994-95 for its exports of these two basic chemicals making it the first pharmaceutical company in Bangladesh to win the Export Trophy.

Due to high market reputation of its products, continuous fine operational performance, steady and healthy dividend policy, BPL shares are considered as high quality blue-chip stock in the Dhaka Stock Exchange (DSE). BPL shares constitute more than 3.19% (September 1999) of the total market capitalization in the DSE. In terms of market capitalization, BPL is the third largest company on the Dhaka Stock Exchange.