Square Pharmaceuticals, one among the leading drug makers in Bangladesh, has invested about Tk one billion in 2005 to develop new manufacturing facilities and expanded its export base to new countries targeting 100 percent growth in 2006.

The company, which had a net turnover 4,721,551,742 tk in 2003-04, grew to 5,332,046,635 tk in 2004-05 with 12.93% increase. The company grew 40 per cent in calendar year 2005 followed by 30 per cent of 2004. The company now targets 100 percent growth in 2006. By the half - year ended 30th Sept 2005, the company reported 3,068,410,000 tk in comparison to the net sales of 2,899,943,000 tk, registering a growth of 5.81% in comparison to the previous year.

Square Pharma, which introduced about 17 generics drugs in the Bangladesh market last year, introduced generics like levosalbutamol, levofloxacin, ciprofloxacin, pioglitazone plus metformin, glimepiride plus rosiglitazone, folic acid BP and zinc sulfate monohydrate USP, 120 mg and 60 mg paracetamol, metformin HCL, cetirizine HCL BP, metronidazole BP etc. to the Bangladesh market. In June this year, the company introduced etoricoxib variants under the Tory brand name and drugs like pioglitazone HCL, amlodipine + benazepril HCL, amlodipine 10 mg + benazepril HCL 20 mg, losartan potassiumspironolactone + frusemide etc. so far in 2006.

Now the company exports to 24 countries, from the previous year's 19. Niger, Zambia, Botswana, Benin and Malawi were the new countries where Square extended its export operations.

In Asia, the company exports to Bhutan, Cambodia, Maldives, Myanmar, Papua New Guinea, Nepal, Sri Lanka, Vietnam, Yemen, Uzbekistan, Iraq and in Africa to Ghana, Kenya, Libya, Mauritius, Mozambique, Sierra Leone, Somalia, Malawi and Comoro Islands, besides exports to Kosovo in Europe. The company is also exploring to tap Malaysia, Philippines, Laos, Iran, Saudi Arabia, UAE, Qatar, Hong Kong, Singapore and Thailand in Asia and Tanzania, Sudan, Niger, Nigeria, South Africa, Chad and Algeria in Africa. It also plans to export to Ukraine, Russia, England and Denmark in the EU region and to Costa Rica, Mexico and Nicaragua in U.S.

In September last year, the company launched its dedicated and state of the art Cephalosporin manufacturing facility at Kaliakor, Gazipur. This world class facility is housed in a 95,000 sq. feet of covered area and will manufacture Cephalosporin antibiotics in tablets, Capsules, Dry Syrup and Injectable preparations. The annual capacity per shift of the plant is 64 million tablets, 47 million capsules, 3.32 million bottle of dry syrups and 10.58 million of injectables. The facility was built by Telstar S.A. of Spain, a world renowned pharmaceutical manufacturing facility, on a turn key basis.

Square Pharmaceuticals has three GMP compliant manufacturing facilities. Its Dhaka unit, constructed as per the requirement of the US FDA, started its operation at the end of 2002. Its first unit at Pabna, was started in 1958. Its API Unit, established in 1992 started commercial production started in 1995 and is one of the largest manufacturers of pharmaceutical bulk products in Bangladesh. 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., Glaxo Smith Kline, ACI Ltd., Reckitt & Colman, Beximco Pharmaceuticals Ltd., The Acme Laboratories Ltd, Eskayef Bangladesh Ltd., Opsonin Chemicals, Renata Ltd., Essential Drugs Co. Ltd. etc.