Market Expansion Strategy of Square Pharmaceuticals LTD

Internship report on
Market Expansion Strategy

of
Square Pharmaceuticals Ltd.
Prepared by: Supervised by:
SAUMITRA KUMAR PAUL DR. MD. HASANATH ALI

Roll No. 060007, 5th Batch Associate Professor
MBA (evening) Program IBA
IBA, University of Rajshahi University of Rajshahi.
INSTITUTE OF BUSINESS ADMINISTRATION

University of Rajshahi
LETTER OF TRANSMITTAL
Dated: 7th May, 2009.
To,
Dr. Md. Hasanath Ali
Associate Professor
Institute of Business Administration
Rajshahi.
Subject : Submission of Internship Report.
Dear Sir,
It is my great pleasure to submit the internship report on "Market Expansion

Strategy of Square Pharmaceuticals Ltd." which is a part of MBA program to
you for your kind consideration.
Encouraged by your mentoring, I went beyond typical observe-describe

manner in preparing this report. My endeavor was to attain a thorough
understanding of the analytical techniques and skill necessary to identify and
exploit strategies successfully.
Within the time limit and my knowledge & capability, I paid sincere efforts to
study related materials, documents, observed operations performed in Square
Pharmaceuticals Ltd and examine relevant records for preparation of the
report. But there may exist some mistakes and errors due to various
limitations. Therefore, I beg your kindness in advance.
Ill be available anytime if you confront any difficulty to translate any aspect of
this report.
You are requested to accept this internship report and oblige me thereby.
Sincerely yours
Saumitra Kumar Paul

Roll No. 060007, 5th Batch
MBA (evening) Program, IBA
Rajshahi University
ACCEPTANCE LETTER
This is to certify that the internship report on Market expansion strategy of

Square Pharmaceuticals Ltd. has been prepared by Saumitra Kumar Paul,
bearing Roll No. 060007, a regular student of MBA (evening) Program, 5 th
Batch, Institute of Business Administration, University of Rajshahi, under my
direct supervision and guidance. During the internship program, his devotion,
sincerity and modesty were quite impressive and praiseworthy.
I wish him every success in life.
Dr. Md. Hasanath Ali
Associate Professor
Rajshahi.
RECOGNITION LETTER
To Whom It May Concern
I am very pleased to certify that Saumitra Kumar Paul bearing roll no. 060007
a student of MBA program, Institute of Business Administration, University of
Rajshahi was engaged in Square Pharmaceuticals Ltd. for the period from
10th November 2008 to 10th February 2009 to conduct the internship program.
He completed the assigned task successfully.
During the period of his internship, I found him sincere, punctual, creative,
hard working and dedicated in doing his assigned jobs.
I wish him every success in life.
Dewan Sazzadul Karim
Senior Manager
Market Research and Planning Cell
Dhaka.
ACKNOWLEDGEMENT
Market expansion strategy of Square Pharmaceuticals Ltd. symbolizes the

power of team work despite of being my personal academic effort. More
precisely, it symbolizes the nature of virtual team with different individuals
from different geographical locations. Superb virtual team requires equally
superb team members, and I was extremely fortunate to have this in my favor.
I owe a debt of gratitude to all those people without whom this report would
have never been accomplished. These people, not only mentored me but they
also made it a point that this study becomes a classy piece of study and its
only their patronage, their mentoring, their constructive assistance and
guidance that has made the study really meaningful and a well thought out
piece of literature.
To start off, its a privilege for me to express my deepest sense of

acknowledgement to Dr. Md. Hasanath Ali, my Academic supervisor from
Institute of Business Administration, University of Rajshahi, my mentor and
undoubtedly the key person behind this study. It has been an out and out
honor to work under him. His versatile viewpoint and understanding of the
subject matter, his guidances, his constructive criticisms and above all the
level of motivation and helpfulness he showed really made me to stay focused
and work logically.
I am gratefully indebted to Mr. Dewan Sazzadul Karim, Senior Manager,

MRPC, Square Pharmaceuticals Ltd, my organization supervisor, who
deserves dedication of this report and so I did. I will be really honored to work
with him again.
It would be true to say that, without the helping hand of Mr. Md.
Kamruzzaman Khan, Executive, and Mr. H. M. Ashiquer Rahman,
Executive, the whole project might have been unsuccessful. These two
Officers are entitled to receive thanks for their patience and assistance.
Ill remember such an obliging personality like Mr. Monsur Rahman Khan,
Executive, MRPC. He always behaved with me affectionately & cordially.
My sincere acknowledgement also goes to Mr. Mark Rupayan. His
tremendous support always followed me as my own shadow does.
I would also like to express my gratitude to the other members of MRPC.

Invaluable assistance was provided by the entire MRPC team. I regret that I
cannot list the dozens of names that should be placed herein. To all I extend
my sincere thanks.
Many of my friends contributed ideas and made suggestions that greatly

enhanced this report. I would like to thank them.
At the last, but not the least, A special recognition goes to Mr, Nasir Uddin
Ahmed who provided sincere cooperation to manage my internship in
Square Pharmaceuticals Ltd and on demand information necessary to
prepare this report.
Where this report succeeds I share the credit, where it errs I alone accept the
responsibility.
Saumitra Kumar Paul
Roll-060007, 5th Batch.

MBA (Evening) Program
University of Rajshahi.
EXECUTIVE SUMMERY
Of late, the issue of market expansion has attracted the significant attention of
academia as well as industry. Market expansion as a strategic growth option
is particularly relevant in developing countries like Bangladesh because of
very low product penetration and consumption levels.
Bangladesh is one of Asia Pacifics most promising opportunities for drug

makers with $700 million sector. There are currently a total of 245 companies
out of which 200 have operations in the country. The market is totally
dominated by the local companies and there are only 5 multi-nationals
currently operating. The total number of brands that are registered in
Bangladesh are currently estimated to be 5,300, while the total number of
dosage forms & strengths are 8,300 from 450 generics.
SQUARE today symbolizes a name - a state of mind. 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. At the end of 2007 as well, Square was the leading company with
annual sales worth BDT 68.9bn (USD 106.5mn) and market share of 18%.
Such is the dominance of Square that the closest competitor Beximco has
only about half the market share. and is now on its way to becoming a high
performance global player.
This paper presents a comprehensive analysis of Market Expansion Strategy

of Square Pharmaceuticals Ltd, and some strategic recommendations with
criticism.
TABLE OF CONTENTS
Letter of Transmittal i
Acceptance Letter ii
Recognition Letter iii
Acknowledgement iv
Executive summery v
1 Chapter 1: Introduction 1
1.1 Origin of the report 2
1.2 Rationality of the study 2
1.3 Scope of the study 2
1.4 Objective of the study 3
1.5 Methodology 3
1.6 Collection of the data 3
1.7 Limitations of the study 3
1.8 List Of Abbreviations Used 4
1.9 Definition of the terms 5
2 Chapter 2: An Overview of Square Pharmaceuticals Ltd.

2.0 Introduction 7
2.1 Corporate history 8
2.2 Vision 9
2.3 Mission 9
2.4 Objective 9
2.5 Corporate focus 9
2.6 Management philosophy 9
2.7 Organogram of SPL 12
2.8 Corporate governance 13
2.9 The executive management 16
2.10 Dividend policy 16
2.11 Shareholders' relationship 17
2.12 Corporate socialization 18
2.13 Research and new products development 18
2.14 Present financial position 19
2.15 Human resources 20
2.16 Technological upgradation 21
2.17 R&D activities 21
2.18 Business portfolio 21
2.19 Distribution channel 21
2.20 Manufacturing facilities 22
2.21 Raw material manufacturing 23
2.22 Present market position 24
2.23 Export 25
2.24 Value proposition 25
2.25 Value creation activities 25
2.26 Revenue model 26
2.27 Comparison between domestic and export sales 26
3 Chapter 3: Market Expansion Strategy of SPL

3.1 Marketing mix 28
3.2 Consistent upgradation 31
3.3 Export 31
3.4 Low manufacturing cost through vertical integration 31
3.5 Product market growth matrix strategy of SPL 35
4 Chapter 4: Marketing Problems of SPL 34
5 Chapter 5: Recommendations 36
6 Chapter 6: Conclusion 41
Bibliography 42
Appendix 43
Part 1
Introduction
1
Introduction
1.1 Origin of the report

In order to fulfill the partial requirement of the MBA program, my respected
supervisor Dr. Md. Hasanath Ali, Associate Professor, Institute of Business
Administration, University of Rajshahi assigned me to study market
expansion strategy of Square Pharmaceuticals Ltd. followed by a detail report.
1.2 Rationality of this study

Internship is a mandatory prerequisite for students willing to attain a MBA
degree at Institute of Business Administration, Rajshahi University. The
internship program includes a period of 12 weeks of on-the-job-training where
I could have first-hand observations concerning the utility of different
departments.
Besides this, Of late the issue of market expansion has attracted the
significant attention of academia as well as industry. Market expansion as a
strategic growth option is particularly relevant in developing countries like
Bangladesh because of very low product penetration and consumption levels.
Therefore, this study is very much significant in terms of modern business
environment.
1.3 Scope of this report

The scope of the report was based on the annual reports & web site, input
from interviews of executives of the Square. To analyze the situation in
question, I worked on focusing on Square Pharmaceuticals Ltd.
Analyzing their objectives, market strategies, Market situations, product

mixes, etc. The analysis was based on the exposed and available information
2 | Page
only. In-depth data were not always available on-demand due to some
unavailable reasons. SWOT analysis of the company has been done. Some
recommendations also have been worked out to improve the current
situations for the company.
1.4 Objective of the study

The broad objective of this report is to fulfill the partial requirement of the MBA
program. As per the requirement of MBA program of IBA, University of
Rajshahi, every student needs to work for three months as an intern to
acquire practical knowledge in a real business setting.
The specific objectives aimed for this report is to conceptualize the current
market expansion strategy of SPL and to identify and suggest scopes of
improvement in current strategy.
1.5 Methodology
Information used to prepare this report has been collected from both the
primary and secondary sources which together provided a more
comprehensive information.
1.6 Collection of the data

An open discussion method was followed to gather primary information by
informally interviewing the various executives of the company. Participants
were purposefully selected as they commonly engaged in marketing directly
or indirectly. Observations were also used to collect primary data while
working in different desks.
The secondary data was accumulated from two sources- a. internal and
b. external. The former sources were annual reports, periodicals, articles and
brochures published by the company. But in the later case, journals, research
papers and articles from various online sources.
3 | Page
1.7 Limitations Of The Study
This report suffered from several limitations:
The most important of them was time constraint. Time was not adequate
to complete the study more perfectly.
Another important limitation was inaccessibility in many section of the

organization. I confronted difficulties in getting appointment from the
desired respondents as well as appropriate response from the selected
respondents due to being confidential for the company.
This report also suffered from inadequate secondary information.
This reports factual accuracy may be compromised due to out-of-date

information.
The findings may not be generalized to the SPL as a whole.
1.8 List Of Abbreviations Used

SPL : Square Pharmaceuticals Ltd.
IMS : Information Medical Statistics
WTA : World Trade Agreement
MRPC : Market Research Planning & Cell
cGMP : Current Good Manufacturing Practice is a term recognized
worldwide as a holistic approach for the control and
management of manufacturing and quality control testing of
food and pharmaceutical products.
API : Active Pharmaceutical Ingredients.
UKMHR : United Kingdom Medicines and Healthcare Products
A Regulatory Agency
MPO : Medical Promotion Officer
DDA : Directorate of Drug Administration.
POM : Prescription Only Medicine
OTC : Over The Counter
4 | Page
1.9 Definition Of The Terms
Value Proposition. Chesbrough and Rosenbloom (2002) define the
value proposition as the value created for users by the offering based on
the technology.
Biotechnology is a radical innovation which has a very different

technological regime from the traditional pharmaceutical one. The manner
in which biotechnology has been applied to the search for, and
development of, biopharmaceuticals is quite different from the traditional
approach. This new regime has resulted in the innovation process being
substantially conducted by small specialist firms. However pharmaceutical
companies have remained innovative, both with respect to the traditional
small molecule based technological trajectory but also in their adjustment
process to the new technology.
OTC product- Over the counter medicine product which can be

advertised of commercialized
POM product- Prescription only medicine. Strictly regulated in terms of

pricing and approaches.
5 | Page
Chapter 2
An Overview of
6 | Page
2
Company Overview
2.0 INTRODUCTION
SQUARE Pharmaceuticals Limited (SPL) is the largest pharmaceutical
company in Bangladesh and is leading the Pharmaceuticals sector from the
very beginning. It has been continuously in the 1 stposition 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 7.5 Billion (US$ 107.91 million) with about 16.92%
market share (April 2006 March 2007) having a growth rate of about 23.17%.
Square Pharmaceuticals Limited is an organization with equal emphasis on

Leadership, Technology, Quality and Passion. Square Pharmaceuticals Ltd. is
the leading branded generic pharmaceutical manufacturer in Bangladesh
producing quality essential and other ethical drugs and medicines.
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.
7 | Page
2.1 CORPORATE HISTORY
Square Pharmaceuticals started as a Partnership Firm in 1958. It converted
into a Private Limited Company in 1964. The company made its initial price
offering in 1995. It has achieved MHRA certificate as the first pharmaceutical
company of Bangladesh.
Year of Establishment (Initially as a : 1958

Partnership)
Incorporated as a Private Limited : 1964
Company
Technical Collaboration Agreement with : 1975
Janssen Pharmaceuticals of Belgium ( a
subsidiary of Johnson & Johnson
International Ltd. )
Technical Collaboration Agreement with : 1984
F. Hoffman-La Roche & Co. Ltd.
Converted into Public Limited Company : 1991
Initially Public Offering (IPO) : 1994
Stock Exchange Listings : : 1995
Agreement with M/s. Bovis Tanvec Ltd. : 1996
of UK for implementation of Dhaka Plant
Awarded ISO-9001 Certificate : 1998
Awarded UK-MHRA Certificate : 2007
Business Lines : Manufacturing and Marketing
of Pharmaceutical Finished
Products, Basic Chemicals,
AgroVet Products and
Pesticide Products
Authorized Capital : Tk. 5,000 million
Paid-up Capital : Tk. 894.24 million
Number of Employees : 3,564
Subsidiary Company : Square Spinnings Ltd.
Square Cephalosporins
Ltd.Square Biotechs Ltd.
Associate Company : Square Textiles Ltd.
Square Knit Fabrics Ltd.
Square Fashions Ltd.
Square Hospitals Ltd.
Source: Annual report of SPL
8 | Page
2.2 VISION
Square views 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.
2.3 MISSION
Its 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.
2.4 OBJECTIVE
Its 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 its vision.
2.5 CORPORATE FOCUS

Its vision, mission and objectives are to emphasize on the quality of
product, process and services leading to growth of the company imbibed
with good governance practices.
2.6 MANAGEMENT PHILOSOPHY

The Philosophies as have been adopted by Square Pharmaceuticals Ltd.
are as follows :
Businesses should support and respect the protection of

internationally proclaimed human rights within their sphere of influence;
and
Make sure that they are not complicit in human rights abuses.
9 | Page
Businesses should uphold the freedom of association and the effective
recognition of the right to collective bargaining;
The elimination of all forms of forced and compulsory labor;
The effective abolition of child labor and
Eliminate discrimination in respect of employment and occupation.
Business should support a precautionary approach to environmental

challenges:
Undertake initiatives to promote greater environmental responsibility;

and
Encourage the development and diffusion of environmentally friendly

technologies.
Business should work against corruption in all its forms, including

extortion and bribery.
Square strives, above all, for top quality health care products at the
least cost reaching the lowest rungs of the economic class of people in
the country. Square values our social obligations.
Square owes our shareholders and strive for protection of their capital
as well as ensure highest return and growth of their assets.
Square strives 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 strives for the best co-operation of the creditors & debtors the
banks & financial Institutions who provide financial support when
Square needs them, the suppliers of raw materials & suppliers who
offer them at the best prices at the opportune moments, the
providers of utilities-power, 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.
10 | Page
for the human civilization.
Square strives for fulfillment of our responsibility to the government

through
2.7 Organogram of Square payment of entire
Pharmaceuticals Ltd. range of due taxes, duties and claims by
various public agencies like municipalities etc.
Square strives,Managing
as responsible
Director citizen, for a social order devoid
Vice-Chairman Chairman
Board ofofDirector
malpractices, anti-environmental behaviors, unethical and
Executive Secretary
immoral activities and corruptive dealings.
Executive Director Executive Director
(Admin) Square strives for practicing good-governance in every sphere of
(Operation)
activities covering inter alia not being limited to, disclosure & reporting
Director Director
to shareholders, holding(Account
AGM &infinance)
time, distribution of dividends (Marketing & Sales)
and other benefits to shareholders, reporting/dissemination of
GM GM (HR) GM GM
(Supply price sensitive information, acquisition of shares by(marketing)
insiders, (sales)
Chain)
recruitment & promotion of staff, procurement & supplies, sale of
DGM DGM DGM DGM
assets etc. all that directly and indirectly(IMD)
affect the interest
(PMD) of
concerned groups - the shareholders, the creditors, suppliers,
AGM AGM AGM AGM AGM AGM
employees, government and the public in general. Depo
Square strives for equality between sexs, races, religions and regions NSM
Sr. Sr. in all spheres

Sr. of our operation
Sr. without Sr.any discriminatory
Sr. treatment.
Sr. Sr. Sr. Sr.
Manager Manager Manager Manager Manager Manager Manager Manager Manager Manager
Square
(GSD) strives for an environment
(Training) (Accounts) free from pollution and poisoning.
(Finance) MRPC
Manager Square strives for the achievement

Manager Manager of millennium
Manager development
Manager Manager goals
Manager Manager Manager Manager
(regulatory)
RSM
Sr. Sr. Sr. Sr. Sr. Sr. Sr. Sr. Sr.
Executive Executive Executive Executive Executive Executive Executive Executive Executive TM
Executive Executive Executive Executive Executive Executive Executive Executive Executive SMPO
MPO
11 | Page
Source: Primary interview with HR executive of SPL
2.8 CORPORATE GOVERNANCE

Corporate Governance involves decision making processes for any corporate
body as a going concern for the benefit of all concerned, present and future.
These decisions may be categorized as policy & strategic, operational and
executing, performance & evaluation and sharing of the accretional
assets between present & future cohorts. The involvement of the
entrepreneur in all these areas invokes decision making governance on a
continuous basis, the degree of involvement being variable with the
extent of delegation of authority top down and reporting for
accountability bottom up of the Management echelon. These aspects of
governance are shared by the Board of Directors, Executive
Management, operational participants and workers and others in
fulfillment of the common goals that converge in increasing the benefits
of all stakeholders. To this end entire corporate governance efforts are
blended with "good governance practices" as ethically and morally
acceptable standards under a given socio politico environmental
phenomenon of our society in which we work, live and exist.
The organisms through which the corporate governance functions are carried
out are:
Board Of Directors :
a) Constitution. The Board of Directors, the top Management echelon,

consisting of the founding entrepreneurs/successors and an
Independent Director, provides the policy and strategic support and
direction for the entire range of the corporate activities. The Board of
Directors consist of nine (9) members including the Independent Director
with varied education and experience which provides a balancing
character in decision making process. The Board is re-constituted every
year at each Annual General Meeting when one-third of the members
retire and seek re-election. A director is liable to be removed if the
13 | Page
conditions of the Articles of Association and the provisions of the
Companies Act 1994 are not fulfilled.
b) Role & Responsibilities. The main role of the Board of Directors,
which is the highest level of authority, is to provide general
superintendence, oversee the operations and control the affairs of
the company through appropriate delegation and accountability
processes via the lines of command. However the Board of Directors
hold the ultimate responsibility & accountability with due delligence
for conducting the activities of the company as per provisions of law in
the interest of the shareholders, the stakeholders, the state and the
society. The Board of Directors, in fulfillment of its responsibility hold
periodic meetings, at least once a quarter and provide appropriate
decisions/directions to the Executive Management. Such meetings
usually consider operational performance, financial results, review of
budgets, capital expenditure proposals for BMRE or new
projects/divisions/product lines, procurement of funds by issue of
shares or borrowing, procurement of raw materials, plant & machinery,
pricing of products/discounts, recruitment, training and promotion of
officers, approval of audited accounts and distribution of dividends and
other interest of the stakeholders including the employees and workers.
The Board of Directors take special care in designing and articulating
productivity and compensation plans of employees and workers and
rewarding them appropriately on the basis of quality and quantity of
performance as an incentive. Board also remains responsible for
removal of operational hazards to life and health of workers, friendly
environmental work condition and social relationship as demanded of good
citizen in a country.
c) Relationship with Shareholders & Public. The shareholders as

owners, are required to be provided with material information on the
company's operation half-yearly and annually, the latter at the AGM.
They are also provided routine services by the Company Secretary in
matters of transfer of shares, replacement in case of loss or
damage of shares, payment of dividends etc. The Board is however
14 | Page
responsible to the public for publication of any price sensitive
information as per SEC regulation. A qualified Chartered Secretary
is in charge for all these responsibilities as Company Secretary.
d) Relationship with Government. In its role on accountability to the

government, the Board of Directors ensure payment of all dues to
government in the form of import duty, custom duty and port charges,
VAT, Corporate Taxes and other levies as and when they become due on
the basis of actual operations and make sure to avoid corruption. This has
enabled the company to enhance its contribution to the National
Exchequer on a progressive rate year after year.
e) Relationship with Financers/Bankers. The Board oversees the

financial transactions and ensures to meet company's commitments
to the lenders without default. This has resulted in securing lower interest
rates from them.
f) Relationship with Suppliers. As the company has to import plant

and machinery and almost all the raw materials from abroad, it
maintains cordial and mutually beneficial interest with its international as
well as local suppliers. This has enabled the company to avoid any
legal disputes in international/local courts and enhanced the
company's image as a good customer.
g) Corporate Social Responsibilities (CSR). The Board of Directors is also

awoken of the Corporate Social Responsibilities (CSR) especially in the
areas of gender equality, race-religion-regional equality, non-employment
of child labor, human rights, environmental pollution, social-marketing,
social activities (promotion of sports & culture, health care and population
control programs, elimination of corruption programs, participation in
charitable activities etc. in non-partisan manner) right to form and
participate in Union under ILO convention, employment of disableds etc.
15 | Page
2.9 THE EXECUTIVE MANAGEMENT
The Executive Management is led by the Managing Director (CEO) who
is appointed by the Board of Directors for a term of 5 years
(renewable) with the approval of shareholders in the Annual General
Meeting. The Managing Director is supported by professional, well
educated, trained and experienced team consisting of Executive Directors,
Directors, General Managers and a host of Senior Executives in the hierarchy
of management. The Board has approved an organogram with modern
features ensuring clear lines of delegation of authority and reporting for
accountability for effective decision making evaluation of performance on
merit for both rewarding and disciplinary action. The Executive
Management is responsible for preparation of budgetary segment plans/sub-
segment plans for every cost/profit centers and are held accountable for
performance therefore. The Executive Management is aided by
committee(s)/sub-committee(s) in carrying out its functions.
2.10 DIVIDEND POLICY

Ethics is an ingredient of Good Governance and involves a determination
of what is right and what is wrong and deals with things to be sought and
things to be avoided with way of life and the end of life. Ethics invokes the
management of the environment within which we function from a perspective
broader than, but obviously inclusive of, the current cohort. Since the
corporate environment is in theory an infinitely lived entity owned by
finitely lived shareholders, a governance ethic must represent a system
that serves the needs of the current ownership while preserving the ability of
the corporation to sustain itself and benefit future cohorts. The corporate
ethic must necessarily promote efficiency in co-existing with the
environment to generate the quality of life for a current cohort and yet also
provide an equity that does not disadvantage a future cohort by the
decisions of a current cohort. As an environmental ethic analogy, those
living today naturally believe in dividend payouts today with less regard
for the consequence tomorrow and those living tomorrow would prefer
16 | Page
dividend payouts tomorrow without regard for the sacrifices we make today
to allow their greater consumption tomorrow.
Based on the above concept, the company is committed to show a

stable policy of distribution (cash outlay) of the accretional wealth (profits)
between the current and the future generation of shareholders. This would
enable the company to enhance its capital wealth and sustain for
perpetuity of existence, benefiting both the present cohorts and the progeny.
2.11 SHAREHOLDERS' RELATIONSHIP

Corporate Governance issues include how major policy decisions are made in
business corporations, how various stakeholders can influence the
process, who is held accountable for performance and what
performance standards are applied. In a nutshell power and influence are
crucial in corporate governance. As shareholders belong to the most
important stakeholders, ownership structure has an impact on the balance
of power among shareholders. Though sponsors usually hold majority
shares required for ordinary resolutions, public shareholders have a
definite role and influence in the passing of special resolutions required
for changes in the business object, sale of business/productive assets,
merger and amalgamation, winding up or dissolution and amendments to
Memorandum and Articles of Association for protection of minority interest up
to 49.9% of the shareholdings. The position of shareholders as on 31-03-
2008 indicates that the sponsors of the company do not hold the required
shareholdings (75%) for passing special resolutions. This allows the
public shareholders (individuals & institutions) to play an effective role in
protecting their legal corporate rights.
The Company holds regularly as per law the Annual General Meeting
with adequate notice and disclosures in the Directors' Report and the
Auditors' Report on Accounts/Notes and resolutions are passed with
consensus and unanimity. All reasonable and practicable suggestions are
17 | Page
implemented with good grace. Special Resolutions are passed in General
Meeting with due notices.
All enquiries are attended by the Company Secretary. Where

necessary, Internal Audit Committee investigates matters of significant
merit for consideration by the Management Committee/Managing
Director/Audit Committee of Board/Board of Directors as the case may be.
2.12 CORPORATE SOCIALIZATION

In order to play a model role for Good Governance characteristics in the
corporate sector, the company has become members of country's leading
chamber - Metropolitan Chamber of Commerce & Industries (MCCI),
Bangladesh Association of Publicly Listed Companies (BAPLC), Central
Depository Bangladesh Limited (CDBL), Dhaka Stock Exchange Ltd.
(DSE) and Chittagong Stock Exchange Ltd. (CSE). These memberships
have provided scope to the company for improvement of Governance
Practices for the benefit of the shareholders /stakeholders.
2.13 RESEARCH AND NEW PRODUCTS DEVELOPMENT

As a part of Corporate Social Responsibility for Good Governance the
company maintains a team of scientific pharmaceutical experts who
continuously conduct research & development programs for improving
quality of products, reduction of cost, adaptation of products that are
free of intellectual property rights and innovative products. These efforts
have enabled the company to add new products to its product lines every
year to the benefit of the common men of the country and the shareholders.
The success in this field has secured the leading position for the company in
the pharmaceutical sector.
18 | Page
2.14 PRESENT FINANCIAL POSITION
Capital Resources Table: 2.1
ASSETS
31-03-08 31-03-07
Non-Current Assets: 8,291,290,984 6,804,429,292

Property, Plant and Equipment-Carrying Value 4,088,432,171 3,531,003,509
Capital Work-in-Progress 591,114,649 481,239,419
Investment - Long Term (at Cost) 3,611,744,164 2,792,186,364
Current Assets: 4,411,836,436 3,682,510,712

Inventories 2,026,736,322 1,544,191,798
Trade Debtors 360,245,646 322,864,637
Advances, Deposits and Prepayments 288,806,440 236,455,395
Investment in Marketable Securities (at Cost) 20,250,000 20,250,000
Short Term Loan 1,510,502,334 1,418,893,703
Cash and Cash Equivalents 205,295,694 139,855,179
TOTAL ASSETS 12,703,127,420 10,486,940,004
Corporate operational results Table: 2.2

(figure in thousand)
2007-08 2006-07 2005-06 2004-05 2003-04
Turnover (Gross) 9,565,716 8,711,035 7,085,553
Value Added Tax 1,307,872 1,210,223
Turnover (Net) 8,257,844 7,500,811
Gross Profit 3,401,782 3,232,364
Net Profit before Tax 1,868,634 1,722,906
Net Profit after Tax 1,381,863 1,303,243
Shareholders' Equity 8,417,041 7,333,258
Total Assets 12,703,127 10,486,940
Total Bank Borrowings 3,569,280 2,536,524
Total Current Assets 4,411,836 3,682,511
Total Current Liabilities 3,500,845 2,555,566
19 | Page
6,199,135 5,482,088
995,648 867,088 760,536
6,089,905 5,332,047 4,721,552
2,564,503 2,172,593 1,906,592
1,533,043 1,513,019 1,151,636
1,165,865 1,255,848 970,044
6,402,015 5,568,790 4,590,142
9,298,987 7,907,933 6,021,497
2,334,925 1,902,331 988,611
4,031,685 3,242,502 2,016,056
2,260,755 1,949,949 1,250,676
Current Ratio 1.26 1.44 1.78

No. of Share Outstanding 8,942,400 5,961,600 4,968,000
Dividend per Share (Cash) 40 50 75
Dividend per Share (Stock) 35% 50% 20%
Shareholders' Equity per Share 941 820 716
EPS at original capital at IPO 690.93 651.62 582.93
Earning per Share (SPL) 154.53 145.74 130.37
Earning per Share (Consolidated) 170.28 163.06 151.47
Quoted Price per Share - DSE 4,110 2,447 2,276
Quoted Price per Share - CSE 4,107 2,462 2,289
Price Earning Ratio-DSE (Time) 26.60 16.79 17.46
Number of Shareholders 31,688 13,009 13,206
Human Resources:
Executives 1,525 1,242 1,143
Staff 1,110 913
Workers 929 846
Sources: Annual report 2008, SPL
1.66 1.61
4,320,000 3,600,000
77 70
15% 20%
623 513
627.92 485.02
140.44 108.48
146.64 112.70
3,768 2,272
3,766 2,316
26.83 20.94
10,486 9,270
949 895
796 740 686
764 705 661
Sources: Annual report 2008, SPL
2.15 HUMAN RESOURCES
2007-08 2006-07 2005-06 2004-05 2003-04
Executives 1,525 1,242 1,143 949 895

Staff 1,110 913 796 740 686
Workers 929 846 764 705 661
Table: 2.3 Sources: Annual report 2008, SPL
All manufacturing units are staffed with adequate number of Professionals

related to Pharmaceutical sciences in accordance with WHO guidelines in
order to produce good quality, safe and effective drugs and pharmaceuticals.
Adequate number of other supporting trained and skilled technical personnel

is employed for smooth functioning of the manufacturing plant.
SPL has a dedicated team of adequate professionals for smooth functioning

of the company.
It has a team of more than 300 well-trained employees to market its product
countrywide which is second to none.
Square strives 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.
In order to improve productivity of human input, the company continuously

provide formal and informal training to the employees at every echelon of
operation and management. During the year under 2008 2247 person
received in-house or in-operation/on the job training at home and abroad
which will ultimately make great contribution to the company's profitability
as well their own remuneration in due course.
20 | Page
2.16 TECHNOLOGICAL UPGRADATION
The company is endeavoring to upgrade and adopt new technology in
production, quality control, distribution and administration of its products
to patients. During the year (2007-2008) the company invested an
amount of Tk. 36,424,234 in improving its Laboratory.
2.17 R&D ACTIVITIES

A team of scientific pharmaceutical experts who continuously conduct
research & development programs for improving quality of products,
reduction of cost, adaptation of products that are free of intellectual
property rights and innovative products. These efforts have enabled the
company to add new products to its product lines every year to the benefit of
the common men of the country and the shareholders. The success in this
field has secured the leading position for the company in the pharmaceutical
sector.
2.18 BUSINESS PORTFOLIO

Investment In Marketable
Subsidiary Operation Long-term investment
Securities
Square Spinnings Ltd. Square Textiles Ltd. Shares Pioneer Insurance
Square Cephalosporins Ltd. United Hospital Ltd. Company
Square Biotechs Ltd. National Housing Finance and
Investment Ltd.
Central Depository
Bangladesh Ltd.
Square Hospitals Ltd.
Square Knit Fabrics Ltd.
Square Fashions Ltd.
Square InformatiX Ltd
2.19 DISTRIBUTION CHANNEL

SPL has the strongest distribution network for smoothing distribution of
medicines to all parts of the country. Currently it has 15 depots all over the
21 | Page
country. Those are situated at Dhaka, Pabna, Bogra, Rangpur, Khulna,
Barisal, Comilla, Mymensingh, Chittagong, Noakhali, Sylhet, Tangail,
Rajshahi, Faridpur and Naryanganj. It uses own transport system to deliver its
product to the stockist and retailer.
2.20 MANUFACTURING FACILITIES

a. Dhaka unit
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.
b. 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.
c. Pesticide unit
Pesticide Unit is a newly formed unit dedicated to the diversification of agro
business through agricultural chemicals and public health insecticides. The
main operations include repacking, selling and marketing of insecticides,
fungicides, and herbicides of Chimac-Agriphar s.a., Belgium and FMC
Corporation, USA.
d. 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
22 | Page
and US FDA. This world class facility manufactures Cephalosporin antibiotics
in Tablets, Capsules, Dry Syrup and Injectable preparations.
2.21 RAW MATERIAL MANUFACTURING

Pet Bottle Unit: First integrated machine of its kind in pharmaceuticals
industry of Bangladesh. Operation started from 2004. Production
capacity/hour is 5000 pcs.
API Unit. Pharmaceutical Bulk Manufacturing Plant. It is presently the

largest quality-bulk drugs manufacturer in the country producing
international standard bulk pharmaceuticals to satisfy more than hundred
pharmaceutical companies throughout the country. API product range-
(1) Amoxycillin Trihydrate (Compacted) BP/USP
(2) Amoxycillin Trihydrate (Micronised) BP/USP
(3) Cloxacillin Sodium (Compacted) BP/USP
(4) Cloxacillin Sodium (Micronised) BP/USP
(5) Paracetamol BP/USP
(6) Diclofenac Sodium BP/USP
(7) Diclofenac Di Ethyl Amine BP
(8) Diclofenac Potassium BP
(9) Diclofenac INN (Free Acid)
(10) Flucloxacillin Sodium (Compacted) BP
(11) Flucloxacillin Sodium (Micronised) BP
23 | Page
2.22 PRESENT MARKET POSITION
Top 10 Manufacturers in Bangladesh by

sales - 2007
Company name Sales USD mn Share (%)
Square 106.5 18.03
Beximco 54.3 9.91
Incepta 43.5 7.37
Acme 31.9 5.4
Eskayef 26.8 4.54
Drug Int. 23.1 3.91
Aristopharma 22.9 3.88
Sanofi-Aventis 22.4 3.8
ACI 22.4 3.79
Renate 21.5 3.63
Table: 2.4 Source: IMS Report,4th Quarter - 2007
Fig: 2.1
Top 10 market player by market share
20
Square
18
16
14
12
10
8
4 Beximco
e
ar 2
et sh
0 Incepta
rk
a
m
Acme
Drug Int.
Sanofi-Aventis
Renata
Eskayef
Aristopharma ACI
0 1 2 3 4 5 6 7 8 9 10 11
Market standing
Source: IMS Report,4th Quarter - 2007
24 | Page
2.23 EXPORT
The company is continuously pressing hard for expanding it's export
sales. During the year under review, the exports amounted to Tk. 212.49
million as against Tk. 192.95 million in previous year, a 10.13%
increase. The exports are expected to rise in the forthcoming years so far.
As the Company has secured license under UK MHRA, it is expected
that the export potential will increase substantially in the near future. It
may be mentioned that the company has, for the first time, exported basic
chemicals for over Tk. 2 million during the year. The company is making
entry into foreign markets and making efforts in registering its products in
USA/EU countries for which is has already set up a modern state-of-art
production facilities at Kaliakoir, Gazipur. The company has already
secured permission for marketing its products in UK/EU countries.
Present export market covers:

Myanmar Nepal Kosovo Kenya
Libya Mauritius Malawi Yemen
Tanzania Sri Lanka Somalia Vietnam
Afghanistan Ukraine Uzbekistan Ghana
Iraq Benin Botswana Bhutan
Cambodia Comoros Island Tajikistan
Mozambique Gambia Niger Rwanda
Papua New Sierra Leone Macau countries
Guinea
Table: 2.5 Source: Annual report 2008, SPL
2.24 VALUE PROPOSITION

SPL has presently been offering its products to its market segment with the
value proposition Utmost quality, Excellent efficacy.
2.25 VALUE CREATION ACTIVITIES

Discovery Development Register Mfg. M&S
SPL
Fig: 2.2
25 | Page
2.26 REVENUE MODEL
Total revenues are highly dependant on sales from a small number of drugs.
Because, In the pharmaceutical industry, the pharmaceuticals products are
divide in to two broad categories: (a) OTC- Can be advertised of
commercialized (b). POM- Strictly regulated in terms of pricing and
approaches. SPL strives to increase the sale of those POM drugs.
2.27 Comparison between domestic and export sales
a) Revenue from domestic sales 9353.22

b) Revenue from export 212.49
Total 9,565.71
26 | Page
Chapter 3
Market Expansion Strategy of Square

Pharmaceuticals Ltd.
27 | Page
3
Market Expansion Strategy of SPL
3.1 MARKETING MIX

Before going into deeper, we should define the present marketing mix of SPL
which is figured out in the following model:
Product Price
(medicine) (all most

regulated)
Target
customers
(doctors &
physicians)
Promotion Place
(personal selling
through (domestic &
relationship) foreign)
Fig: 3.1
a) Market Segments.. The main basis of segmenting market in Bangladesh is

therapeutic drug i.e. NASAL DROPS, ANTIBIOTIC etc. Presently SPL has the
largest product portfolio to serve as many segments as possible. It
consistently strives to make it larger. Its present segments are identified in the
product table.
b) Target Customers.. Rather than the consumer of the medicine, the key
customers for SPL has been the physician. Physicians are considered here as
opinion leader. The major innovative drugs can not be purchased without a
prescription provided by a doctor. SPLs main selling task has been directed,
therefore, not at the user, but at physicians.
28 | Page
Doctors and physicians are segmented on the basis of its therapeutic drug
segment. As for example, NASAL DROPS products are communicated at
E.N.T specialists. Therefore, if SPL has NASAL DROPS product line, then
E.N.T. specialists are treated its target customers. Besides this, general
physicians are also its target customers.
c) Value Proposition.. SPL has presently been offering its products to its
market segment with the value proposition Utmost quality, Excellent efficacy.
d) Product.. SPL develops, produces, and markets drugs of different

therapeutic groups licensed for use as medications.
The Bangladeshi Pharmaceutical Market is primarily a generic market

producing both patented and off-patented products. This is popularly known
as Branded Generic Market since any manufacturer can produce the same
molecule (either patented or off-patented) and market it in different brand
names. SPL is not beyond this scenario. It produces off-patented molecule
and market it in its own brand.
The product list according to generic segment can be found in appendix part.
e) Price.. Drug pricing is heavily dependent on the National Drug Policy

adopted by Directorate of Drug Administration of Bangladesh Govt.
Governments agencies act as a countervailing power in pricing
pharmaceuticals.
As per the NDA 2005, regulatory authority pursuing Rational pricing of drugs
to ensure essential drugs available to the end-users at affordable prices. On
the basis of that policy, SPL has been pursuing two different kinds of pricing
policy-
a. For OTC product, all most similar price as the competitors.
b. For POM product, competitive pricing.
29 | Page
There are also few exceptions. If SPL introduces a product first in the market,
it charges little bit higher price than its competitors, but within the rules and
regulations of Drug Administration.
f) Place.. SPL has the strongest domestic distribution network for smoothing
distribution of medicines to all parts of the country. Currently it has 15 depots
all over the country. Those are situated at Dhaka, Pabna, Bogra, Rangpur,
Khulna, Barisal, Comilla, Mymensingh, Chittagong, Noakhali, Sylhet, Tangail,
Rajshahi, Faridpur and Naryanganj. It uses own transport system to deliver its
product to the stockist and retailer.
SPL also exports its products to 31 countries.

Present export market covers:
Myanmar Nepal Kosovo Kenya
Libya Mauritius Malawi Yemen
Tanzania Sri Lanka Somalia Vietnam
Afghanistan Ukraine Uzbekistan Ghana
Iraq Benin Botswana Bhutan
Cambodia Comoros Island Tajikistan
Mozambique Gambia Niger Rwanda
Papua New Sierra Leone Macau countries
Guinea
Table: 3.1 Source: Annual report 2008, SPL
g) Promotion.. Public advertisement for medicine, specially POM drug is

strictly prohibited in Bangladesh. But it may be done for OTC medicine to
some extent. However, no pharma company in Bangladesh is engaged in
such advertisement.
SPL heavily depends on personal selling through rapport building and

maintaining. A team of sales representatives, called MPO have been
employed to meet with physicians to explain the merits, demerits, indication,
contraindications, etc. of the medicine with the help of literature, brochure,
pad, booklet, leaflet, gift item etc. That is, the Medical Promotion Officers
promote the companies product to doctors front with the help of different
30 | Page
promotional materials. If a new drug is to be more expensive, then it needs
to demonstrate that its superior performance is worth it.
Its promotional activities can be illustrated as follows:
Core customer Relation development Marketing & Sales

(doctor) Team
literature, brochure, pad, booklet,
End customer leaflet, gift item etc
(patient)
Non-core customer
(retailer)
Customer Fig: 3.2

(stockist)
Customer
(C&F)
3.2 CONSISTENT UPGRADATION

SPLs another strategy is upgrading and adopting new technology for its
manufacturing plants consistently so that it can produce quality product with
comparatively lower cost.
3.3 EXPORT
This is an important market expansion strategy of SPL. Because the past fifty
years have seen a dramatic lowering of barriers to cross-border trade and
investment, For example, the average tariff rate on manufactured goods
traded between advanced nations has fallen from around 40 percent to under
4 percent. Similarly, in nation after nation, regulations prohibiting foreign
companies from entering domestic markets and establishing production
facilities, or acquiring domestic companies, have been removed.
31 | Page
3.4 LOW MANUFACTURING COST THROUGH VERTICAL INTEGRATION
To expand its market with low cost products, SPLs strategy is to integrate
itself more vertically so that it can get the raw materials cheaply. It has its own
API manufacturing facilities and more API factory is being established.
3.5 PRODUCT MARKET GROWTH MATRIX STRATEGY OF SPL

On the basis of the above discussion, we can conceptualize the market
expansion strategies of SPL through the following figure:
Products
Present New
ten Product
Market
sPre penetration development
s
Market
w Market Diversification
Ne development
Fig: 3.3
32 | Page
Chapter 4
Marketing Problems of SPL
33 | Page
4
Marketing Problems of SPL
After analyzing its present market expansion strategies, the following

problems have been found in it:
1. It seems that SPL pursuing prescription for profit strategy for

market penetration. It is partially good, but may not be perfect as the
completion is very hard. There are some other parties who has the
scope and ability to act as opinion leader and to motivate the buyer.
These potential opinion leaders are remaining unexploited. SPL has
enough resources to let them add value to the company.
2. I didnt find SPL adopting any strategy to create brand loyalty. But
client is more profitable than customer in terms of both transaction as
well as positive word-of-mouth communication. He himself can be an
opinion leader.
3. Holding the heaviest product portfolio should not be the ultimate goal at
all. Emphasis must be given on how early a new product can be
launched in the market place than the competitor.
4. At present, SPL gets only 20% raw materials from its API plant and the
rest are to be imported. It increases product cost.
5. Market should not be segmented only on the therapeutic drug basis.
6. Pharmaceutical value chain is a bit different from traditional value as it

includes an additional step in the start Discovery. This step is a vital
strength of any pharmaceutical company. SPL lacks this component in
its value chain.
34 | Page
Chapter 5
Recommendations
35 | Page
5
Recommendations
5.1 NEW CATEGORY OPINION LEADER

Doctors are the only opinion leader in SPLs present strategy. It may be
partially good, but can not be perfect as the completion becomes more
intense day by day. There are some other parties who has the scope and
ability to act as opinion leader and to motivate the buyer. These potential
opinion leaders are remaining unexploited. SPL has enough resources to let
them add value to the company.
Hereby I am proposing a hypothetical model to correct this strategy-
Customer
(stockist)
Profit
Marketing & Sales Non-core customer
Team sharing (retailer)
Core customer
(doctor)
Fig: 5.1
End customer
(patient)
In this model, Retailers have been selected as new opinion leader, besides
the doctors & physicians. In return, they will enjoy above average profit
margin by selling SQUARE product.
36 | Page
5.2 CUSTOMER ONCE, CLIENT FOR EVER
Client is more profitable than customer in terms of both transaction as well as
positive word-of-mouth communication. He himself can be an opinion leader.
So, I am suggesting to adopt some programs that will let its customers be
transformed into clients. The following model would better describe this
concept: Customer
(stockist)
Marketing & Sales Non-core customer

Team (retailer)
Core customer
(doctor)
Brand awareness End customer

(patient)
Fig: 5.2
SPL has a strong brand image in pharmaceutical industry. It will

facilitate this strategy.
I am citing some instances here which may be useful for this strategy:
a. Mobile Hospital service with free treatment and medicine.
b. Health awareness program in rural area.
c. Modernization of educational institute or public hospital etc.
5.3 TODAYS PLANT, TOMORROWS TREE

Those who are student of MBBS today, tomorrow they will become doctor.
Therefore, SPL may approach them to establish and maintain a long-term
rapport.
37 | Page
5.4 WHAT I HAVE TODAY, OTHER WILL HAVE TOMORROW
SPL is always striving to maintain the highest product portfolio among the
competitors for its product development strategy. Holding the heaviest product
folio should not be the ultimate goal at all. Emphasis must be given on how
early a new product can be launched in the market place than the competitor.
5.5 KEEP PACE WITH THE RACE

Todays world is changing very rapidly, in every sphere. Therefore, updating
production plant alone is not enough to cope with the new environment. SPL
has to have a keen eye if there is any change in HR development, transport,
information technology, consumer relation management, medical science and
so on.
5.6 INTEGRATE GREATLY

SPL imports 80% raw materials of its total requirements. This is an weakness
if it wants to consistently expand its market. So it require either more API
plants or increase in present production capacity.
5.7 DISCOVER THE UNDISCOVERED

Pharmaceutical value chain is a bit different from traditional value as it
includes an additional step Discovery. in the start This step is a vital strength
of any pharmaceutical company. SPL lacks this component in its value chain.
Discovery Development Register Mfg. M&S
SPL
Fig: 5.3
38 | Page
5.8 ACT LOCALLY, THINK GLOBALLY
As the Company has secured license under UK MHRA, it has created a
tremendous opportunity for SPL to expand globally. Not only that, in nation
after nation, regulations prohibiting foreign companies from entering domestic
markets and establishing production facilities, or acquiring domestic
companies, have been removed. As a result of these two developments, there
has been a surge in both the volume of international trade and the value of
foreign direct investment. Between 1950 and 2000, the volume of world trade
increased more than twenty-fold. So, SPL must grab this opportunity.
5.9 INNOVATION IS THE DESTINATION

Pharma is on the brink of a scientific and technological revolution that will
ultimately transform both the nature of the medicines it makes and how it
makes them. In future, then, Pharma will not only make the white powders,
creams and tablets it has traditionally produced, it will manufacture a
complete mix of biopharmaceuticals, parenterals and diagnostics. Making
targeted treatment solutions will generate greater revenues than conventional
drugs and offset the increasing competition from generic producers. But it will
also require the restructuring of the entire pharmaceutical value chain,
including the fixed asset base and downstream distribution.
5.10 SEGMENT THE CURRENT MARKET SEGMENT

SPL is in need of more segmentation tools in an ongoing effort to establish
close and sustainable relationships with customers.
39 | Page
Chapter 6
Conclusion
40 | Page
6
Conclusion
The purpose of this paper has been to analyze the market expansion activities
of Square Pharmaceuticals Ltd. SPL is a very big business organization.
Therefore, its very difficult on my part to analyze its each and every strategy
precisely in this small study.
There can be various ways through which a business organization can

achieve success in the market, After scanning its external & internal
environment and considering all alternatives, I have tried my level best to sort
out the best way as per my thinking ability for SPL to run ahead.
But finally I can say this much that it has a large potential both in the short and
long run due to its sound distinctive competencies .
41 | Page
Bibliography
th
Philip Kotler & Gary Armstrong, 10Edition, Principles of Marketing,
Pearson Education International, New Jersey, USA.
Annual Reports of Square Pharmaceuticals Ltd.
www.squarepharma.com.bd
42 | Page
Appendix
Product Portfolio of SPL

SL
No. Brand name Generic name Strength
Market segment: ANTIBIOTIC AND ANTIMICROBIAL

1 Anca 500 Tablet Cefprozil 500 mg
2 Anca 250 Tablet Cefprozil 250 mg
3 Anca Suspension Cefprozil 250 mg / 5 ml
4 Benzapen 1.2 million injection Benzathine Penicillin 1.2 million/Vial
5 Cef - 3 Capsule Cefixime 200 mg
6 Cef - 3 DS Capsule Cefixime 400 mg
7 Cef - 3 Dry Syrup Cefixime 100 mg / 5 ml
10 Cefdir Capsule Cefdinir 300 mg
11 Cefdir Suspension Cefdinir 125 mg / 5ml
12 Cefotil 125 Tablet Cefuroxime Axetil 125 mg
15 Cefotil Suspension Cefuroxime Axetil 125 mg / 5ml
16 Cefotil IM/IV Injection Cefuroxime Sodium 750 mg
17 Cefotil 1.5 Injection Cefuroxime Sodium 1.5 gm
18 Ceftron 1gm IM / IV Inj. Ceftriaxone 1 gm
19 Ceftron 2 gm IV inj. Ceftriaxone 2 gm
20 Ceftron 250 IM / IV Inj. Ceftriaxone 250 mg
21 Ceftron 500 IM / IV Inj. Ceftriaxone 500 mg
22 Ceporin 250 Capsule Cephalexin 250 mg
23 Ceporin 500 Capsule Cephalexin 500 mg
24 Ceporin Dry Syrup Cephalexin 125 mg / 5ml
25 Ceporin DT Cephalexin 250 mg
26 Ciprocin 250 Tablet Ciprofloxacin 250 mg
29 Ciprocin Suspension Ciprofloxacin 250 mg / 5 ml
30 Ciprocin XR 1000 Tablet Ciprofloxacin 1000 mg
31 Cotrim Suspension Sulphamethoxazole+Trimethoprim (200 mg + 40 mg) / 5 ml
32 Cotrim Tablet Sulphamethoxazole+Trimethoprim 400 mg + 80 mg
33 Cotrim DS Tablet Sulphamethoxazole+Trimethoprim 800 mg + 160 mg
34 Doxacil 100 Capsule Doxycycline HCI 100 mg
35 Emcil Tablet Pivmecillinam 200 mg
36 Eromycin 250 Tablet Erythromycin 250 mg
37 Eromycin Dry Syrup Erythromycin 125 mg / 5 ml
38 Eromycin DS Tablet Erythromycin 500 mg
39 Eromycin Pediatric Drops Erythromycin Ethylsuccinate 200 mg / 5 ml
40 Force 1 gm IV Injection Cefpirome 1 gm
41 Gati 400 Tablet Gatifloxacin 400 mg
42 Genacyn 20 Injection Gentamicin 20 mg / 2 ml
43 Genacyn 80 Injection Gentamicin 80 mg / 2 ml
43 | Page
44 Lebac 1 gm IV Injection Cephradine 1 gm
45 Lebac 500 mg Injection Cephradine 500 mg
46 Lebac 250 Capusle Cephradine 250 mg
47 Lebac 500 Capsule Cephradine 500 mg
48 Lebac Dry Syrup Cephradine 125 mg / 5 ml
49 Lebac Pediatric Drops Cephradine 125 mg / 1.25 ml
50 Lebac Forte Suspension Cephradine 250 mg / 5 ml
51 Loracef 500 Capusle Cefaclor 500 mg
52 Loracef Suspension Cefaclor 125 mg / 5 ml
53 Loracef Pediatric Drops Cefaclor 125 mg / 1.25 ml
54 Loracef 375 ER Tablets Cefaclor 375 mg
55 Maxcef 250 mg Injection Cefotaxime 250 mg
56 Maxcef 500 mg Injection Cefotaxime 500 mg
57 Maxcef 1 gm Injection Cefotaxime 1 gm
58 Mexlo 400 Tablet Lomefloxacin 400 mg
59 Moxacil 250 Capsule Amoxycillin Trihydrate 250 mg
60 Moxacil 500 Injection Amoxycillin 500 mg / vial
61 Moxacil 500 Capsule Amoxycillin Trihydrate 500 mg
62 Moxacil Dry Syrup Amoxycillin 125 mg / 5 ml
63 Moxacil Forte Suspension Amoxycillin 250 mg / 5 ml
64 Moxacil DT Amoxycillin 250 mg
65 Moxacil Pediareic Drops Amoxycillin 125 mg / 1.25 ml
66 Moxacil 875 Tablet Amoxycillin Trihydrate 875 mg
67 Moxaclav 375 Tablet Amoxycillin + Clavulanic acid 250 mg + 125 mg
68 Moxaclav 625 Tablet Amoxycillin + Clavulanic acid 500 mg + 125 mg
69 Moxaclav Dry Syrup Amoxycillin + Clavulanic acid (125 + 31.25) mg / 5 ml
70 Moxaclav Dry Syrup Amoxycillin + Clavulanic acid (125 + 31.25) mg / 5 ml
71 Moxaclav Forte Suspension Amoxycillin + Clavulanic acid (400 + 57.50) mg / 5 ml
72 Moxaclav 1 gm Tablet Amoxycillin + Clavulanic acid 875 mg+ 125 mg
73 Nalid 500 Tablet Nalidixic Acid 500 mg
74 Nalid Dry Syrup Nalidixic Acid 300 mg / 5 ml
75 Penvik Dry Syrup Phenoxymethyl Penicillin 125 mg / 5 ml
76 Penvik 250 Tablet Phenoxymethyl Penicillin 250 mg
77 Penvik DS Tablet Phenoxymethyl Penicillin 500 mg
78 Penvik Forte Dry Syrup Phenoxymethyl Penicillin 250 mg / 5 ml
79 Phylopen 250 Capsule Flucloxacillin 250 mg
80 Phylopen Dry Syrup Flucloxacillin 125 mg / 5 ml
81 Phylopen Forte Dry Syrup Flucloxacillin 250 mg / 5 ml
82 Phylopen DS Capsule Flucloxacillin 500 mg
83 Phylopen 500 Injection Flucloxacillin 500 mg / vial
84 Remac 500 Tablet Clarithromycin 500 mg
85 Rutix 200 Tablet Ofloxacin 200 mg
86 Rutix 400 Tablet Ofloxacin 400 mg
87 Saga 200 mg Tablet Sparfloxacin 200 mg
88 Specbac 1 gm IV Injection Meropenem 1 gm
89 Specbac 500 mg IV Injection Meropenem 500 mg
90 Tazid 250 mg IM/IV Injection Ceftazidime 250 mg
91 Tazid 500 mg IM/IV Injection Ceftazidime 500 mg
92 Tazid 1 gm IM/IV Injection Ceftazidime 1 gm
93 Tetrax 500 Capsule Tetracycline HCl 500 mg
94 Trevox 500 Tablet Levofloxacin 500 mg
95 Trevox 750 Tablet Levofloxacin 750 mg
44 | Page
96 Trevox Syrup Levofloxacin 125 mg / 5 ml
97 Vanprox 100 Capsule Cefpodoxime Proxetile 100 mg
98 Vanprox 200 Capsule Cefpodoxime Proxetile 200 mg
99 Vanprox Pediatric Drops Cefpodoxime Proxetile 20 mg / ml
100 Vanprox Dry Syrup Cefpodoxime Proxetile 40 mg / 5 ml
101 Vanprox Forte Suspension Cefpodoxime Proxetile USP 80 mg/5ml
102 Zimax 500 Tablet Azithromycin 500 mg
103 Zimax 250 Capsule Azithromycin 250 mg
104 Zimax Suspension Azithromycin 200 mg / 5 ml
105 Zimax Suspension Azithromycin 200 mg / 5 ml
Market segment: ANALGESIC, ANTIPYRETIC, ANTIRHEUMATIC AND ANTISPASMODIC

1 Ace Pediatric Drops Paracetamol 80 mg/ml
2 Ace Pediatric Drops Paracetamol 80 mg/ml
3 Ace suspension Paracetamol 120mg/5ml
4 Ace Syrup Paracetamol 120mg/5ml
5 Ace 500 tablet Paracetamol 500mg
6 Ace 120 DT Paracetamol 120 mg
7 ACE 60 Suppository Paracetamol 60 mg
11 Ace Plus Tablet Paracetamol + Caffeine 500 mg + 65 mg
12 Anadol Capsule Tramadol HCl 50 mg
13 Anadol Injection Tramadol HCl 100 mg/2ml
14 Anadol Suppository Tramadol HCl 100 mg
15 Clofenac 25 tablet Diclofenac Sodium 25 mg
16 Clofenac 50 tablet Diclofenac Sodium 50mg
17 Clofenac DT Diclofenac free acid 46.50mg
18 Clofenac gel Diclofenac Diethylammonium Salt 10mg/gm
19 Clofenac injection Diclofenac Sodium 75mg/3ml
20 Clofenac Plus injection Diclofenac Sodium + Lidocaine (75mg + 20mg)/2ml
21 Clofenac SR tablet Diclofenac Sodium 100mg
22 Clofenac 12.5 suppository Diclofenac Sodium 12.5 mg
23 Clofenac 25 suppository Diclofenac Sodium 25 mg
24 Clofenac 50 suppository Diclofenac Sodium 50 mg
25 Colicon Tablet Dicycloverine 10 mg
26 Colicon Injection Dicycloverine 20 mg / 2 ml
27 Colicon Syrup Dicycloverine 10 mg/5ml
Glucosamine Sulfate INN +
28 Contilex Tablet 250 mg + 200 mg
Chondroitin Sulfate INN
29 Espa tablet Drotaverine HCl 40 mg
30 Espa injection Drotaverine HCl 40 mg/2 ml
31 Flexi Tablet Aceclofenac 100 mg
32 Kitex Tablet Dexketoprofen 25 mg
33 Kop 200 SR Capsule Ketoprofen 200 mg
34 Kop 50 tablet Ketoprofen 50 mg
35 Kop 100 SR Capsule Ketoprofen 200 mg
36 Kop gel Ketoprofen 25 mg/gm
37 Kop IM injection Ketoprofen 100mg/2ml
38 Melcam 7.5 Tablet Meloxicam 7.5 mg
39 Melcam 15 Tablet Meloxicam 15 mg
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40 Miclofenac 50 Tablet Diclofenac Sodium + Misoprostol 50 mg + 200 mcg
41 Miclofenac 75 Tablet Diclofenac Sodium + Misoprostol 75 mg + 200 mcg
42 Norvis Tablet Tiemonium Methylsulphate 50 mg
43 Norvis Injection Tiemonium Methylsulphate 5 mg / 2 ml
44 Panodin SR Tablet Etodolac USP 600 mg
45 Penrif 15 Cream Methylsalicylate + Menthol 15% + 10%
46 Penrif 30 Cream Methylsalicylate + Menthol 30% + 8%
47 Selecox 100 tablet Celecoxib 100 mg
48 Selecox 200 tablet Celecoxib 200 mg
49 Sonap 10% Gel Naproxen 10%
50 Sonap 250 tablet Naproxen 250 mg
51 Sonap 500 tablet Naproxen 500 mg
52 Sonap 500 Suppository Naproxen 500 mg
53 Tilex 500 Tablet Glucosamine HCl 500 mg
54 Torax 10 Tablet Ketorolac Tromethamine 10 mg
55 Torax 10 Injection Ketorolac Tromethamine 10 mg/ml
58 Tory 60 Tablet Etoricoxib 60 mg
61 Xflam 200 tablet Dex-Ibuprofen INN 200 mg
64 Xripa tablet Nefopam HCl INN 30 mg
65 Xripa Injection Nefopam HCl INN 20 mg/ml
66 Xtra 10 tablet Valdecoxib 10 mg
67 Xtra 20 tablet Valdecoxib 20 mg
67 Timotor tablet Trimebutine Maleate INN 100 mg
Market segment: GASTROPROKINETIC AND ANTIEMETIC

1 Motigut Suspension Domperidone 5mg/5ml
2 Motigut Tablet Domperidone 10 mg
3 Motigut Paediatric Drops Domperidone 5mg/ml
4 Motifast Tablet Domperidone 5 mg
5 Naurif 1 mg Tablet Granisetron 1 mg
6 Naurif 1 mg Injection Granisetron 1 mg / ml
7 Vertina Chewable Tablet Meclizine 50 mg
Market segment: ANTIFLATULENT PLAIN

1 Flacol Paediatric Drops Simethicone 67 mg/ml
Market segment: ANTIALLERGIC AND ANTIHISTAMINE

1 Alatrol syrup Cetirizine Hydrochloride 5mg/5ml
2 Alatrol tablet Cetirizine Hydrochloride 10mg
3 Alatrol Paediatric Drops Cetirizine Hydrochloride 2.5 mg/ml
4 Alarid Tablet Ketotifen Fumerate 1 mg
5 Alarid Syrup Ketotifen Fumerate 1 mg / 5 ml
6 Adryl Syrup Diphenhydramine HCl 10 mg/5ml
7 Antista syrup Chlorpheniramine Maleate 2 mg / 5 ml
8 Fexo 60 tablet Fexofenadine HCl 60 mg
46 | Page
11 Loratin tablet Loratadine 10 mg
Loratadine+Pseudoephedrine
12 Loratin Plus Tablet 10 mg+ 240 mg
sulphate
13 Loratin suspension Loratadine 5 mg/5ml
14 Loratin FT Loratadine 10 mg
15 Sedno tablet Desloratadine 5 mg
16 Sedno syrup Desloratadine 2.50 mg / 5 ml
Market segment: CARDIOVASCULAR, ANTIHYPERTENSIVE, LIPID MODIFIER, ANTIPLATELET

1 Angilock 25 tablet Losartan Potassium 25 mg
Losartan Potassium +
4 Angilock 50 Plus Tablet 50 mg + 12.5 mg
Hydrochlorothiazide
5 Angilock 100 Plus Tablet 100 mg + 25 mg
Hydrochlorothiazide
6 Angilock plus 100/12.5 tablet 100 mg + 12.5 mg
Hydrochlorothiazide
7 Anzitor 10 tablet Atorvastatin 10 mg
8 Anzitor 20 tablet Atorvastatin 20 mg
9 Anclog Tablet Clopidogrel 75 mg
10 Anclog Plus Tablet Clopdrogrel + Aspirin 75 mg + 75 mg
11 Anril 0.5 Tablet Nitroglycerin 0.5 mg
12 Anril Spray Nitroglycerin USP 400 mcg/spray
13 Anril SR Tablet Nitroglycerin 2.6 mg
14 ARB-8 tablet Candesartan Cilexetil 8 mg
15 Camlodin 5 tablet Amlodipine 5 mg
16 Camlodin 10 tablet Amlodipine 10 mg
17 Camlodin Plus 25 Tablet Amlodipine + Atenolol 5 mg + 25 mg
18 Camlodin Plus 50 Tablet Amlodipine + Atenolol 5 mg + 50 mg
19 Camlopril 2.5/10 Capsule Amlodipine Besylate + Benazepril 2.5 mg + 10 mg
20 Camlopril 5/10 Capsule Amlodipine Besylate + Benazepril 5 mg + 10 mg
23 Cardipro 50 tablet Atenolol 50mg
24 Cardipro 100 tablet Atenolol 100mg
25 Cardipro 50 Plus Tablet Atenolol + Chlorthalidone 50 mg + 25 mg
26 Cardipro 100 Plus Tablet Atenolol + Chlorthalidone 100 mg + 25 mg
27 Carva 75 Tablet Aspirin 75 mg
28 Cerevas tablet Vinpocetine INN 5 mg
29 Cinaron tablet Cinnarizine 15mg
30 Cholinor tablet Ezetimibe 10 mg
31 Delipid capsule Gemfibrozil 300mg
32 Diltizem SR 90 tablet Diltiazem HCl 90mg
33 Durol 6.25 tablet Carvedilol 6.25 mg
34 Durol 12.5 tablet Carvedilol 12.5 mg
35 Durol 25 tablet Carvedilol 25 mg
36 Esmo tablet Isosorbide Mononitrate 20mg
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37 Esmo LA capsule Isosorbide Mononitrate 50 mg
38 Freflo Tablet Frusemide + Spironolactone 20 mg + 50 mg
39 Esordin Tablet Isosorbide Dinitrate 10 mg
40 Fusid injection Frusemide 20mg/amp
41 Fusid tablet Frusemide 40mg
42 Fusid 40 Plus Tablet Frusemide + Spironolactone 40mg + 50 mg
43 Nidipine tablet Nifedipine 10mg
44 Nidipine SR tablet Nifedipine 20mg
45 Nimocal Tablet Nimodipine 30 mg
46 Oxyfyl CR Tablet Pentoxifylline 400 mg
47 Levocar Solution Levocarnitine 500 mg / 5 ml
48 Levocar Tablet Levocarnitine 330 mg
49 Lipired 200 Capsule Fenofibrate 200 mg
50 Osiden Injection Adenosine 6 mg/2ml
1.5 mg Sustained
51 Repres 1.5 SR Tablet Indapamide
Release
52 Repres Plus 2 tablet Indapamide + Perindopril 0.625 mg + 2 mg
53 Repres Plus 4 tablet Indapamide + Perindopril 1.25 mg + 4 mg
54 Ripril 1.25 Capsule Ramipril 1.25 mg
55 Ripril 2.5 Capsule Ramipril 2.5 mg
56 Ripril 5 Capsule Ramipril 5 mg
57 Ripril 10 Capsule Ramipril 10 mg
58 Ripril 1.25 Tablet Ramipril 1.25 mg
59 Ripril 2.5 Tablet Ramipril 2.5 mg
60 Ripril 5 Tablet Ramipril 5 mg
61 Ripril plus 2.5/12.5 tablet Ramipril BP + Hydrochlorthiazide BP 2.5 mg + 12.5 mg
62 Ripril plus 5/25 tablet Ramipril BP + Hydrochlorthiazide BP 5 mg + 25 mg
63 Rosuva 10 Tablet Rosuvastatin 10 mg
64 Simacor 10 Tablet Simvastatin 10 mg
65 Vasopril 5 tablet Enalapril Maleate 5mg
66 Vasopril 10 tablet Enalapril Maleate 10mg
Market segment: ANTIHELMINTIC

1 Almex suspension Albendazole 200 mg/5ml
2 Almex Tablet Albendazole 400mg
3 Ermox 100 Tablet Mebendazole 100mg
4 Ermox Suspension Mebendazole 100mg/5ml
Market segment: ANTIAMOEBIC, ANTIPROTOZOAL, ANTIFUNGAL

1 Amodis 400 Tablet Metronidazole 400mg
2 Amodis Suspension Metronidazole 200mg/5ml
3 Candex Suspension Nystatin 0.1million unit
4 Flugal 150 Capsule Fluconazole 150mg
5 Flugal 50 Capsule Fluconazole 50mg
6 Flugal Suspension Fluconazole 50mg/5ml
7 Itra Capsule Itraconazole 100 mg
8 Ketoral 200 Tablet Ketoconazole 200mg
9 Robic Tablet Ornidazole 500 mg
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10 Secnid 500 Suspension Secnidazole 500 mg
11 Secnid DS Tablet Secnidazole 1 gm
Market segment: VITAMINS AND MINERALS

1 B-50 Forte Capsule Vitamin B Complex
2 B-50 Forte Injection Vitamin B Complex
3 B-50 Forte Syrup Vitamin B Complex
4 B-50 Forte Syrup Vitamin B Complex
5 B-50 Forte Tablet Vitamin B Complex
6 Beovit Tablet Thiamine HCl 100mg
Vit B1 + Vit B12 + Vit B6 + 5 mg + 2 mg + 2 mg +
7 Bicozin Syrup
Nicotinamide + Zinc 20 mg + 10 mg per 5 ml
Vit B1 + Vit B12 + Vit B6 + 5 mg + 2 mg + 2 mg +
8 Bicozin Syrup
Nicotinamide + Zinc 20 mg + 10 mg per 5 ml
5 mg+
9 Bicozin Tablet Vit.B1 + Vit.B2 + Vit.B3+Vit.B6 +Zn
2mg+20mg+2mg+10mg
10 Calbo Tablet Calcium Carbonate 500mg
11 Calbo Junior Tablet Calcium Carbonate 250 mg
Calcium Lactate Gluconate + 1000 mg + 327 mg +

12 Calbo - C Effervescent Tablet
Calcium Carbonate + Ascorbic Acid 500 mg
13 Calbo - D Tablet Calcium Carbonate + Cholecalciferol 500 mg + 200 IU
Calcium Carbonate BP+Calcium

327 mg+1000mg+500
14 Calbo Forte Effervescent tablet Lactate gluconate +Vitamin C
mg+400IU
BP+Vitamin D BP
600 mg + 200 IU + 40
Calcium + Vitamin D + Mg + Mn +
15 Calboplex Tablet mg + 1.8 mg + 1 mg +
Cu+ B + Zn
250 mcg
16 Ceevit Tablet Ascorbic acid+Sod Ascorbate 250mg
17 Ceevit Forte Effervescent Tablet Ascorbic acid 1000 mg
18 Evit Tablet Vitamin- E 200mg
Vitamin C+Vitamin E+ 60mg+30IU+15mg+2mg
19 Eyevi capsule
Zinc+Copper+Lutein +6mg
Multivitamin multimineral for age
20 Filwel Silver
above 45 yrs.
Multivitamin multimineral for age
21 Filwel Gold
below 45 yrs
(2000
Vit.A+Vit.D+Vit.B1+Vit.B2+Vit.B6+Vit. IU+200IU+0.70mg+0.85
22 Filwel Kids Syrup
C+Vit.E+Nicotinamide+Cod liver oil mg+0.35mg+17.5mg+1.
5mg+9 mg+0.1gm)/5ml
(2000
Vit.A+Vit.D+Vit.B1+Vit.B2+Vit.B6+Vit. IU+200IU+0.70mg+0.85
23 Filwel Kids Syrup
C+Vit.E+Nicotinamide+Cod liver oil mg+0.35mg+17.5mg+1.
5mg+9 mg+0.1gm)/5ml
24 Methicol Tablet Mecobalamin INN 500 mcg

25 Methicol Injection Mecobalamin INN 500 mcg
26 Multivit Plus Tablet Multivitamin-multimineral
Vitamin B1 + Vitamin B6 + Vitamin 100 mg + 200 mg + 200
27 Neuro-B Tablet
B12 mcg
Vitamin B1 + Vitamin B6 + Vitamin 100 mg + 100 mg +
28 Neuro-B Injection
B12 1000 mcg
29 Panvit Drops Multivitamine drops
30 Rex Tablet Beta carotene, Vit. C & Vit. E 6mg+200mg+50mg
49 | Page
31 Zesup Syrup Zinc Sulphate 10 mg Zn / 5 ml
32 Zesup Forte Syrup Zinc Sulphate 20 mg Zn / 5 ml
33 Z-DT 10 Zinc Sulphate 10 mg
34 Z-DT 20 Zinc Sulphate 20 mg
Market segment: ANTIULCERANT

1 Isovent 200 Tablet Misoprostol 200 mcg
2 Isovent 100 tablet Misoprostol INN 100 mcg
3 Entacyd Plus Suspension Antacid + Simethicone
4 Entacyd Plus Tablet Antacid + Simethicone
5 Entacyd Suspension Antacid
6 Entacyd Tablet Antacid
7 Famotack 20 Tablet Famotidine 20 mg
8 Famotack 40 Tablet Famotidine 40 mg
9 Lanso 15 Capsule Lansoprazole 15 mg
10 Lanso 30 Capsule Lansoprazole 30 mg
11 Neotack 150 Tablet Ranitidine HCl 150mg
12 Neotack 300 Tablet Ranitidine HCl 300mg
13 Neotack Injection Ranitidine HCl 50 mg/2 ml
14 Neotack Syrup Ranitidine HCl 75 mg / 5 ml
15 Nexum 20 Capsule Esomeprazole 20 mg
16 Nexum 40 Capsule Esomeprazole 40 mg
17 Nexum 20 Tablet Esomeprazole 20 mg
18 Nexum 40 Tablet Esomeprazole 40 mg
Lansoprazole 30 mg +
Lansoprazole+ Clarithromycin+
19 Pylotrip Clarithromycin 500 mg +
Amoxycillin
Amoxycillin1gm
20 Seclo 20 Capsule Omeprazole 20mg
21 Seclo 40 Capsule Omeprazole 40 mg
22 Seclo DR 20 tablet Omeprazole BP 20 mg
23 Trupan 20 Tablet Pantoprazole 20 mg
24 Trupan 40 Tablet Pantoprazole 40 mg
25 Xcid Tablet Calcium Carbonate 1000 mg
Market segment: NASAL DROPS

1 Antazol Nasal Drop 0.05% Xylometazoline HCl 0.05%
2 Antazol Nasal Drop 0.1% Xylometazoline HCl 0.10%
Xylometazoline + Sodium (0.0325 mg + 2.6 mg) /
3 Antazol Plus Nasal Spary
Cromoglycate Spray
4 Nacromin 2% Nasal Drops Sodium Cromoglycate 20 mg / ml
6 Nocon 0.025% Nasal Drops Oxymetazoline USP 0.025%
5 Nocon 0.05% Nasal Drops Oxymetazoline USP 0.05%
7 Becospray Beclomethasone dipropionate 50mcg/ spray
8 Flonaspray Fluticasone propionate 50mcg/ spray
9 Rynaspray Ipratropium Bromide 21 mcg/ spray
10 Snizex Nasal Spray Azelastine HCl BP 137 mcg/spray
11 Trispray Triamcenolone Acetonide 55 mcg / spray
Market segment: TOPICAL PREPARATIONS (ANTIBIOTIC, ANTIFUNGAL, ANTI-ACNE, ANTISCABIES,

ANTIECZEMA)
1 Cresac 0.75% Cream Metronidazole 0.75%
2 Kensten Cream Clotrimazole 1%
50 | Page
3 Kensten-VT (Vaginal Tablet) Clotrimazole 100 mg
4 Betameson-N Top. Cream Betamethasone+ Neomycin (1mg+5mg)/gm
5 Dermasol Cream Clobetasol Propionate 0.05%
Clobetasol Propionate + Neomycin (0.5 mg+5 mg+1 lac
6 Dermnasol-N Cream
Sulphate + Nystatin unit)/gm
7 Dermasol Ointment Clobetasol Propionate 0.05%
Clobetasol Propionate + Neomycin (0.5 mg+5 mg+1 lac
8 Dermasol-N Ointment
Sulphate + Nystatin unit)/gm
9 Diprobet Cream Betamethasone Dipropionate BP 0.5mg/gm
10 Diprobet Ointment Betamethasone Dipropionate BP 0.5mg/gm
11 Equra Cream Urea 10.00%
12 Eromycin 3 % Lotion Erythromycin 3%
13 Ezex 0.05% Cream Clobetasone Butyrate 0.05%
14 Ezex 0.05% Ointment Clobetasone Butyrate 0.05%
15 Fona Cream Adapalene 0.10%
16 Fungidal HC Cream Miconazole nitrate+ Hydrocortisone (20mg+10mg)/g
17 Fungidal Cream Miconazole nitrate 20mg/gm
Econazole Nitrate +Triamcenolone
18 Pevitin Cream 1% + 0.1%
Acetonide
19 Genacyn Topical Ointment Gentamicin 1mg/gm
20 Gelora Gel Miconazole 2% (W/W)
21 Nebanol Ointment Neomycin Sulphate + Bacitracin 5mg+9.16mg/g
22 Nebanol Powder Neomycin sulphate+Bacitracin (5mg+4.56mg)/g
Neomycin sulphate+Bacitracin + 3.5 mg + 400 IU + 5000
23 Nebanol Plus Ointment
Polymixin IU
24 Nilac Gel Tretinoin 0.03%
25 Oni Cream Betamethasone DP+Clotrimazole 0.05%+1%
26 Pracort Ointment Hydrocortisone Acetate + Pramoxine 1% + 2.5%
27 Pracort Cream Hydrocortisone Acetate + Pramoxine 1% + 2.5%
28 Remus cream Tacrolimus 0.01%
29 Scabex Cream Permethrin 5%
30 Scabex Cream Permethrin 5%
31 Ticas 0.005% Ointment Fluticasone Propionate 0.005%
32 Ticas 0.05% Cream Fluticasone Propionate 0.05%
33 Topicort Cream Hydrocortisone Acetate 1.00%
34 Xfin Cream Terbinafine 1.00%
35 Bactrocin 2% Ointment Mupirocin 2.00%
Market segment: ANTISEPTIC + DISINFECTANT

1 Viodin 1% Mouth Wash Povidone Iodine 50 mg/5 ml
2 Viodin 5% Ointment Povidone Iodine 50 mg/gm
3 Viodin 10% Antiseptic solution Povidone Iodine 500 mg/ 5ml
4 Viodin 10% Antiseptic solution Povidone Iodine 10% Solution
Market segment: ANTICOUGH, EXPECTORANT

1 Ambrox pediatric Drops Ambroxol 6 mg/ml
2 Ambrox SR Capsule Ambroxol 75 mg
3 Ambrox Syrup Ambroxol 15 mg/5ml
4 Brofex Syrup Dextromethorphan 10mg/5ml
Dextromethorphane + 10 mg + 30 mg + 1.25
5 Ofkof Syrup
Pseudoephedrine + Triprolidine mg per 5 ml
6 Mucospel Tablet Bromhexine HCl 8 mg
7 Mucospel Syrup Bromhexine HCl 4 mg / 5 ml
51 | Page
Guaiphenesin + Pseudoephedrine + (100mg + 30mg +
8 Tusca Syrup
Triprolidine HCl 1.25mg)/5ml
9 Nectar Linctus Glycerol BP+Liquid Sugar ph.grd (0.75ml+1.93ml)/5ml
Market segment: SEDATIVE, HYPNOTIC, ANTIDEPRESANT, ANTIVERTIGO

1 Carbizol 5 Tablet Carbimazole 5 mg
2 Clobam Tablet Clobazam 10mg
3 Diliner DR Capsule Duloxetine 60 mg
4 Elzer Tablet Donepezil 5 mg
5 Epitra 0.5 Tablet Clonazepam 0.5 mg
6 Epitra 2 Tablet Clonazepam 2 mg
7 Laxyl Tablet Bromazepam 3 mg
8 Melixol tablet Flupenthixol + Melitracen 0.5 mg+10 mg
9 Myonil tablet Eperisone 50 mg
10 Nixalo 0.25 Tablet Alprazolam 0.25 mg
11 Nixalo 0.50 Tablet Alprazolam 0.50 mg
12 Oxapro Tablet Escitalopram 10 mg
13 Oxat tablet Paroxetine HCl 20 mg
14 Rislon Tablet Betahistine Mesilate 6 mg
15 Prolert Capsule Fluoxetine HCl 20mg
16 Sanit Tablet Nortriptyline + Fluphenazine 10 mg + 0.5 mg
17 Sedil Injection Diazepam 10mg/2ml
18 Sedil Tablet Diazepam 5mg
19 Tryptin 10 Tablet Amitryptyline HCl 10mg
20 Tryptin 25 Tablet Amitryptyline HCl 25mg
Market segment: ANTIPSYCHOTIC, ANTIPERKINSONIAN

1 Deprex 5 mg tablet Olanzapine 5 mg
2 Deprex 10 mg tablet Olanzapine 10 mg
3 Peridol Tablet Haloperidol 5 mg
4 Peridol Injection Haloperidol 5mg/1ml
5 Perkinil Tablet Procyclidine HCl 5mg
6 Perkinil Injection Procyclidine HCl 10 mg / 2 ml
7 Perkirol 0.25 Tablet Ropinirole 0.25 mg
8 Perkirol 2 Tablet Ropinirole 2 mg
Market segment: ANTIDIABETIC

1 Comet 500 Tablet Metformin HCl 500 mg
4 Comet Oral Solution Metformin HCl 500 mg / 5 ml
5 Comet XR 500 Tablet Metformin HCl 500 mg
6 Comet XR 1gm Tablet Metformin HCl 1000 mg
7 Comprid Tablet Gliclazide 80 mg
8 Comprid MR 30 Tablet Gliclazide 30 mg
9 Dibenol Tablet Glibenclamide 5mg
10 Glyros 1 Tablet Glimepiride + Rosiglitazone 1 mg + 4 mg
11 Glyros 2 Tablet Glimepiride + Rosiglitazone 2 mg + 4 mg
12 Repran 0.5 Tablet Repaglinide 0.5 mg
13 Repran 1 Tablet Repaglinide 1 mg
14 Repran 2 Tablet Repaglinide 2 mg
52 | Page
15 Rezulin 500 Tablet Pioglitazone + Metformin 15 mg + 500 mg
16 Rezulin 850 Tablet Pioglitazone + Metformin 15 mg + 850 mg
17 Secrin 1 tablet Glimepiride 1 mg
21 Sensimet 1 tablet Rosiglitazone + Metformin 1 mg + 500 mg
24 Sensimet 1 DS tablet Rosiglitazone + Metformin 2 mg + 1000 mg
25 Sensimet 2 DS tablet Rosiglitazone + Metformin 4 mg + 1000 mg
26 Sensulin 2 tablet Rosiglitazone 2 mg
27 Sensulin 4 tablet Rosiglitazone 4 mg
28 Tos 15 Tablet Pioglitazone 15 mg
29 Tos 30 Tablet Pioglitazone 30 mg
30 Zitrol XR 2.5 Glipizide 2.5 mg
31 Zitrol XR 5 Glipizide 5 mg
32 Zirol XR 10 Glipizide 10 mg
33 Tosirin 30/2 tablet Pioglitazone INN+Glimepiride USP 30 mg+2 mg
34 Tosirin 30/4 tablet Pioglitazone INN+Glimepiride USP 30 mg+4 mg
Market segment: HAEMATINIC

Iron Polymaltose + Thiamine +
50 mg + 5 mg + 2 mg +
1 Bicozin-I Syrup Riboflavin + Nicotinamide +
20 mg +2 mg +10 mg
Pyridoxine + Zinc
50 mg + 5 mg + 2 mg +
20 mg +2 mg +10 mg
Pyridoxine + Zinc
50 mg + 5 mg + 2 mg +
20 mg +2 mg +10 mg
Pyridoxine + Zinc
4 Fe-PLUS CAPSULE 200mg Ferrous Fumarate+Folic acid 200mg +0.2mg
5 Polyron Syrup Iron (iii) Hydroxide Polymaltose 50 mg/5ml
Dried Ferrous Sulphte + Folic acid +
150mg + 0.5mg + 2mg +
Thiamine Mononitrate + Riboflavin +
6 Servin Capsule 2mg + 10mg + 1mg +
Nicotinamide + Pyridoxine
50mg
Hydrochloride + Ascorbic Acid
Zinc Sulphate mono hydrate + 61.8mg + 150mg +

7 ZIF CAPSULE
ferrous sulphate + folic acid 0.50mg
Zinc Sulphate + Folic Acid + 61.8 mg + 0.50 mg + 50

8 Zif CI Capsule
Carbonyl Iron mg
Zinc Sulphate mono hydrate + folic
9 Zifolet Tablet 54.90 mg + 5 mg
acid
Iron Polymaltose + Folic Acid + Zinc 47 mg + 0.50 mg +

10 Ziliron Tablet
Sulphate Monohydrate 61.80 mg
Market segment: EYE / EAR DROPS

1 Alacot 0.1% Eye Drops Olopatadine HCl 0.10%
2 Alarid 0.025% Eye Drops Ketotifen Fumarate BP 0.025%
3 Ciprocin 0.3% Eye / Ear Drops Ciprofloxacin 0.30%
4 Clofenac Eye Drops Diclofenac Sodium 1mg / ml
5 Genacyn Eye / Ear Drops Gentamicin 3mg/ml
53 | Page
6 Iventi Eye Drops Moxifloxacin 0.50%
7 Mexlo Eye Drops Lomefloxacin 3 mg / ml
8 Nacromin 2% Eye Drops Sodium Cromoglycate 20 mg / ml
9 Locular 0.2% Eye Drops Brimonidine Tartrate 0.20%
10 SQ-Mycetin Eye / Ear Drops Chloramphenicol 5mg/ml
11 Temlo 0.25% Eye Drops Timolol Maleate 2.5 mg/ml
12 Temlo 0.50% Eye Drops Timolol Maleate 5 mg/ml
Market segment: ANTIDIARRHOEAL

1 Imotil Capsule Loperamide HCl 2mg
2 Zox 500 Tablet Nitazoxanide 500 mg
3 Zox Suspension Nitazoxanide 100 mg / 5 ml
4 Zox Suspension Nitazoxanide 100 mg / 5 ml
Market segment: ANTIGOUT

1 Esloric 100 Tablet Allopurinol 100 mg
2 Esloric 300 Tablet Allopurinol 300 mg
Market segment: ANTIMALARIAL

1 Malacide Tablet Sulfadoxine + Pyrimethamine 500mg+25mg
2 Lumartem tablet Artemether INN+Lumefantrine INN 20 mg+120mg
Market segment: BRONCHODILATOR, ANTIASTHMATIC

1 Asmanyl Tablet Theophylline 300mg
2 Beclomin 100 Inhaler Beclomethasone Dipropionate 100 mcg/puff
3 Beclomin 250 inhaler Beclomethasone Dipropionate 250 mcg/puff
4 Ezonide 80 Inhaler Ciclesonide 80 mcg / puff
5 Ezonide 160 Inhaler Ciclesonide 160 mcg / puff
6 Iprex Inhaler Ipratropium Bromide 20 mcg/puff
7 Iprex Respirator Solution Ipratropium Bromide 250 mcg/ml
8 Levostar 1 Tablet Levosalbutamol 1 mg
9 Levostar 2 Tablet Levosalbutamol 2 mg
10 Levostar Inhaler Levosalbutamol 50 mcg / puff
11 Levostar Syrup Levosalbutamol 1 mg / 5 ml
12 Levostar Syrup Levosalbutamol 1 mg / 5 ml
13 Montene 4 chewable tablet Montelukast 4 mg
14 Montene 5 Tablet Montelukast 5 mg
15 Montene 10 Tablet Montelukast 10 mg
16 Nacromin Cozycap Sodium Cromoglycate 20 mg
17 Norvent Inhaler Tiotropium Bromide 9 mcg/ puff
18 Salmate Inhaler Salmeterol 25 mcg/puff
19 Sultolin Cozycap Salbutamol 20 mcg
20 Sultolin Syrup Salbutamol 2mg/5ml
21 Sultolin 100 Inhaler Salbutamol 100mcg/puff
22 Sultolin 4 mg Tablet Salbutamol 4mg
23 Sultolin SR Tablet Salbutamol 8mg
24 Sultolin Respirator Solution Salbutamol 5 mg / ml
54 | Page
(100 mcg + 20 mcg) /
25 Sulprex Inhaler Salbutamol + Ipratropium
puff
26 Ticamet 50 Inhaler Salmeterol + Fluticasone (25 mcg+ 50 mcg) / puff
27 Ticamet 125 Inhaler Salmeterol + Fluticasone (25 mcg+125 mcg) / puff
28 Ticamet 250 Inhaler Salmeterol + Fluticasone (25 mcg+250 mcg) / puff
29 Ticamet 100 Cozycap Salmeterol + Fluticasone 50mcg+100 mcg
30 Ticamet 250 Cozycap Salmeterol + Fluticasone 50mcg+250 mcg
31 Optiven 10 tablet Bambuterol 10 mg
32 Optiven 20 tablet Bambuterol 20 mg
33 Optiven oral solution Bambuterol HCl 5mg/5ml
Market segment: ANTIVIRAL / ANTIRETOVIRAL (ARV)

1 Avudin Tablet Lamivudine + Zidovudine 150 mg + 300 mg
2 Adiva Tablet Efavirenz 600 mg
3 Antiva tablet Adefovir Dipivoxil 10 mg
4 Aviflu Capsule Oseltamivir 75 mg
5 Hepavir Tablet Lamivudine 100 mg
6 Hivarif Tablet Lamivudine 150 mg
7 Hivarif Syrup Lamivudine 10 mg / ml
8 Nelvir Tablet Nelfinavir 250 mg
150 mg + 300 mg + 300
9 Tivizid Tablet Lamivudine + Zidovudine + Abacavir
mg
10 Virux Cream Acyclovir HCl 50mg/gm
11 Virux 200 Tablet Acyclovir HCl 200mg
12 Virux 400 Tablet Acyclovir HCl 400 mg
Market segment: OSTEOPOROSIS THERAPY

1 Ostel Tablet Alendronate Sodium 10 mg
2 Ostel 70 Tablet Alendronate Sodium 70 mg
3 Ostel-D 70/2800 Alendronate Sodium BP+Vit D3 BP 70 mg+2800 IU
4 Ostel-D 10/400 Alendronate Sodium BP+Vit D3 BP 10 mg+400 IU
5 Oxilar tablet Raloxifene 60 mg
Market segment: NEUROLEPTICS

1 Neurolep Tablet Piracetam 800 mg
2 Neurolep Solution Piracetam 500 mg/5ml
3 Suev 10 Capsules Atomoxetine 10 mg
Market segment: ANTI-MIGRAINE

1 Migranil 0.5 Tablet Pizotifen 0.5 mg
2 Migranil 1.5 Tablet Pizotifen 1.5 mg
3 Nomi tablet Zolmitriptan HCl 2.5 mg
Market segment: LAXATIVE

1 Osmolax Solution Lactulose 3.40gm/5ml
2 Osmolax Solution Lactulose 3.40gm/5ml
Market segment: ANOREXIANTS

1 Obenil 5mg Capsule Sibutromine 5 mg
55 | Page
Market segment: ANTICHOLINERGIC
1 Ucol 2 tablet Tolterodine Tartrate 2mg
Market segment: GI SENSORY MOTOR MODULATOR

1 Tesod tablet Tegaserod Hydrogen Maleate 6 mg
Market segment: ANTIHAEMORRHOIDAL

1 Hemorif Tablet Diosmin + Hespiridine 450 mg + 50 mg
Cinchocaine + Hydrocortisone + 5 mg + 5 mg + 10 mg +
2 Erian Ointment
Framycetin + Esculin 10mg
Cinchocaine + Hydrocortisone + (5 mg+5 mg+10 mg+10

3 Erian suppository
Framycetin + Esculin mg)/gm
Market segment: PROSTATIC DISEASE PRODUCT

1 Maxrin Capsule Tamsulosin HCl 0.4 mg
2 Uriten Tablet Alfuzosin HCl 10 mg
3 Pronor Tablet Finsteride 5 mg
Market segment: DENTAL PREPARATIONS

1 Orogel Dental Gel Benzocaine USP 20 % W/W
Market segment: WATER PURIFIER

1 Puritar 1 Tablet Sodium Dichlorisocyanurate INN 17 mg
2 Puritar 3 Tablet Sodium Dichlorisocyanurate INN 51 mg
Market segment: OTHER GYNAECOLOGICAL PRODUCTS

1 Lerozol tablet Letrozole USP 2.5 mg
Market segment: ANTIFIBRINOLYTICS

1 Frabex 500 Capsule Tranexamic acid BP 500 mg
2 Frabex 500 Injection Tranexamic acid BP 500 mg/5ml
3 K-One Solution/Injection Phytomenadione BP 2 mg/0.2 ml
56 | Page

Market Expansion Strategy of Square Pharmaceuticals LTD

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Market Expansion Strategy of Square Pharmaceuticals LTD

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Internship report on

Market Expansion Strategy

Prepared by: Supervised by:

SAUMITRA KUMAR PAUL DR. MD. HASANATH ALI

INSTITUTE OF BUSINESS ADMINISTRATION

Dated: 7th May, 2009.

Subject : Submission of Internship Report.

It is my great pleasure to submit the internship report on "Market Expansion

Encouraged by your mentoring, I went beyond typical observe-describe

Saumitra Kumar Paul

This is to certify that the internship report on Market expansion strategy of

I wish him every success in life.

Dr. Md. Hasanath Ali

To Whom It May Concern

I wish him every success in life.

Dewan Sazzadul Karim

Market expansion strategy of Square Pharmaceuticals Ltd. symbolizes the

To start off, its a privilege for me to express my deepest sense of

I am gratefully indebted to Mr. Dewan Sazzadul Karim, Senior Manager,

I would also like to express my gratitude to the other members of MRPC.

Many of my friends contributed ideas and made suggestions that greatly

Saumitra Kumar Paul

Roll-060007, 5th Batch.

Bangladesh is one of Asia Pacifics most promising opportunities for drug

SQUARE today symbolizes a name - a state of mind. From the inception in

This paper presents a comprehensive analysis of Market Expansion Strategy

2 Chapter 2: An Overview of Square Pharmaceuticals Ltd.

3 Chapter 3: Market Expansion Strategy of SPL

4 Chapter 4: Marketing Problems of SPL 34

1.1 Origin of the report

1.2 Rationality of this study

1.3 Scope of this report

Analyzing their objectives, market strategies, Market situations, product

1.4 Objective of the study

1.6 Collection of the data

This report suffered from several limitations:

Another important limitation was inaccessibility in many section of the

This report also suffered from inadequate secondary information.

This reports factual accuracy may be compromised due to out-of-date

The findings may not be generalized to the SPL as a whole.

1.8 List Of Abbreviations Used

Biotechnology is a radical innovation which has a very different

OTC product- Over the counter medicine product which can be

POM product- Prescription only medicine. Strictly regulated in terms of

Square Pharmaceuticals Limited is an organization with equal emphasis on

Year of Establishment (Initially as a : 1958

2.5 CORPORATE FOCUS

2.6 MANAGEMENT PHILOSOPHY

Businesses should support and respect the protection of

The effective abolition of child labor and

Eliminate discrimination in respect of employment and occupation.

Business should support a precautionary approach to environmental

Undertake initiatives to promote greater environmental responsibility;

Encourage the development and diffusion of environmentally friendly

Business should work against corruption in all its forms, including

Square strives for fulfillment of our responsibility to the government

Sr. Sr. in all spheres

Manager Square strives for the achievement

2.8 CORPORATE GOVERNANCE

a) Constitution. The Board of Directors, the top Management echelon,

c) Relationship with Shareholders & Public. The shareholders as

d) Relationship with Government. In its role on accountability to the

e) Relationship with Financers/Bankers. The Board oversees the