Incepta Pharmaceuticals: Background of the company

Human side of the business Production and Marketing Accounting and Finance Business Environment

Prepared by
ID 9304002 9304014 9304138 9304124 9304104 9304083 Name Shabnam Shaolin Shejoty Mahbub Md. Sohrab Hossain Md. Imran Hossain Omar Faruk Md. Farhad

Prepared for

Sharmin Shabnam Rahman

Faculty of Business studies Department of BRAC Business School (BBS)

BRAC University
Dated: 5 August, 2009
5 August, 2009
2

Sharmin Shabnam Rahman Faculty of Business Studies Department of BRAC Business School (BBS) BRAC University Dear Madam,

Sub: Submission of report for completion of course This is to inform you that we have completed the report on our current organization, Incepta Pharmaceuticals. The report focuses on the background of the company, human side of the business, production and marketing, accounting and finance, business environment. The report, titled Incepta Pharmaceuticals has been prepared for the completion of the course Business Introduction.

In writing this case, we have followed your instructions for report writing so as to present our views and understanding in the easiest way. However, we will be glad to clarify any discrepancy that may arise. Thank you. Sincerely,
ID 9304002 9304014 9304138 9304124 9304104 9304083 Name Shabnam Shaolin Shejoty Mahbub Md. Sohrab Hossain Md. Imran Hossain Omar Faruk Md. Farhad

Acknowledgements

We

would

like

to

thank

Mr.

Asad

Uzzaman,

Area

manager

of

Incepta

Pharmaceuticals for giving us the opportunity to work with the organization and also for giving us the privilege to explore the report in writing. We also want to give thanks to those members of the main branch of Incepta Pharmaceuticals who help us to completing the report. Finally, we give thank to our family members, friends for their support and encouragement. Without their support and encouragement it was not possible to complete the report.

Executive Summary
This report details about a leading Pharmaceutical company of Bangladesh named Incepta Pharmaceuticals. The report outlines the background of the company, 4

human side of the business, production and marketing, accounting and finance, business environment. Incepta Pharmaceuticals is one of the renowned company in Bangladesh. It starts it work from1999 and till the company is in the leading position. The company has a clear vision and its mission is to fulfil their vision. The company has level of management and these different level managers work together to improve the present condition of the company. Incepta produces various kinds of medicines and now the company is exporting medicines to 26 countries. Incepta also maintain their social responsibilities for the betterment of Bangladesh.

Table of Contents
Page No.

1. Background Of The Company 1.1 Introduction

1.2 1.3 1.4 1.5 1.6

General Objective Specific Goals Scope Methodology

11 11 12 12 12

Restrictions and limitations 1.7 Ethics

2. Human side of the business 2.1 2.2 2.3 2.4 2.5

Management Level of management 13 Organizational structure Leadership style Training program 14 15 15 13

3. Products and marketing 3.1 3.2 3.3 3.4 3.5 3.6

Products of Incepta List of products Brief description of some products Production facilities Equipment facilities for R&D Pricing and promotion 28 16 17 21 27 28

4. Accounting and finance 5. Business environment 5.1 5.2 5.3 5.4 5.5
Air pollution Water pollution Not to mix up forbidden materials in medicine Not to sale expired products Social corporate responsibility

29

33 34 35 35 35 37 38 39

6. Conclusion 7. Recommendation 8. Glossary

Table of Illustrations
Page No.

Fig 1 : Head office of Incepta Table 1 : Medicine list of Incepta Fig 2 : Picture of medicine (Actidex) Fig 3: Picture of medicine (Celenta) Fig 4:Prize giving ceremony Fig 5: Prize giving ceremony (1) Table 2: Profit and loss account of Incepta Fig 6: Air pollution Fig 7: Water pollution

10 17 21 24 30 31 32 33 34

List of Abbreviations

R&D: Research and Development 7

CSR: Corporate Social Responsibility VAT: Value Added Tax SOP: Standard operating Procedures

Chapter One Background of the company

As partial fulfillment of the course Introduction to Business BUS (101), our course instructor Miss Sharmin Shabnam Rahman had instructed us to write a report on any aspect of any organization. The report, assigned in 6 July 2009, is due on 5 August 2009. 1.1 Introduction Incepta Pharmaceuticals Ltd is a leading pharmaceutical company in Bangladesh established in the year in 1999. The company has a very big manufacturing facility locating at Savar, 35 kilometer away from the centre of the capital city Dhaka. The company produces various types of dosage forms which include tablets, capsules, oral liquids, ampoules, dry powder vials; powder for suspension, nasal sprays etc. 8

Since its inception, Incepta has been launching new and innovative products in order to fulfill unmet demand of the medical community. The focus was to bring more new technologically advanced molecules to this country.

Incepta quickly developed a very competent sales team, which promotes the specialties throughout the country. The company virtually covers every single corner of the rural as well as urban area of Bangladesh. It has its own large distribution network having 13 depots all over the country. The company has a clear vision to become a leading research based dosage from manufacturing company with global presence within a short period of time. Incepta began its operation with a handful of highly skilled and dedicated professionals guided by an able leadership. Proper strategic planning, technical excellence, swift and timely decisions helped them achieve their objectives leading to much faster growth. A most dynamic skilled and dedicated marketing team comprising of pharmacists and doctors are at the core of the marketing operation. These highly skilled professionals play a crucial role in providing the necessary strategic guideline for the promotion of its products.

The Researchers and Development department for various dosage forms have been very well developed. Incepta intends to bring new product of advanced technology 9

through research hitherto unknown in this country. Such activities will not only benefit the company but also the total pharmaceutical sector of the company. In the post 2005 era, the company also intends to embark into the production of Active Pharmaceuticals Ingredient (API). Plans are underway to get into reverse engineering and analogue research in order to produce new API. Incepta has a clear vision and the vision is to become a researcher based global pharmaceuticals company in addition to being a highly efficient generic manufacture. To discover and develop innovative, value-added products that improves the quality of life of people around the world and significantly contributes towards the growth of Bangladesh.

The mission of Incepta Pharmaceuticals is to provide people globally with high quality health care products at affordable price in order to improve access to medicine and to provide employees an enabling environment that facilities realization of their full potential.

1.2 General objective

The general objective of the report is to describe about the background of the company, human side of the business, production and marketing, accounting and finance and the business environment of the company.

1.3 Specific goals

The specific goals of this report is to provide a short background of Incepta Pharmaceuticals, provide a basic understanding about their working system, their mission and vision and also provide some data about their products.

1.4 Scope
The focus of this report is on Incepta Pharmaceuticals. Only this particular company has been studied in this report. Other Pharmaceuticals company which are situated in Bangladesh are not included in this report.

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1.5 Methodology
Data collection for the report has employed both primary and secondary sources. The sources are given below:

Primary sources
Interview with the area manager of Incepta Pharmaceuticals A book from Incepta Pharmaceuticals

Secondary Source
www.inceptapharma.com www.incepta@inceptapharma.com www.info@inceptapharma.com

1.6 Restrictions and limitations

Being a Business Introduction course the focus of this report is on only some departments works of the organization. But the description of each and every machineries or products is excluded. As we are student we have time limitation to work for the report. We have also knowledge limitation about the company.

1.7 Ethics
The ethical guidelines in completing this report include transparency and honesty in carrying out the study, timely data collection and compilation to finish the work within the deadline.

Chapter Two

11

Human side of the business

The people of Incepta Pharmaceuticals are the assets of their organization. They are fundamental to the achievement of their long-term business strategy. The success of Incepta over the years has been due, in large part, to the dedication, skill and effort of their employees.

2.1 Management
The Management is headed by the Managing Director, the Chief Executive Officer (CEO) who has been delegated necessary and adequate authority by the Board of Directors. The Management operates through further delegations of authority at every echelon of the line management. The Management is responsible for preparation of segment plans/sub-segment plans for every profit centers with budgetary targets for every item of goods & services and is held accountable for deficiencies with appreciation for exceptional performance. These operations are carried out by the Management through series of committees, sub-committees, adhock committees, standing committees assisting the line management.

2.2 Level of management

Like other organization Incepta has a level of management. In Incepta we found three types of managers in the level of management. These are: Top level managers, Middle level managers and First level managers. The Top-level managers of incepta are: Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operational Officer (COO), Chief Information Officer (CIO), and Chairperson of the Board, President, Vice president, and corporate head. The Middle level managers of Incepta are: General Manager, Plant manager, Regional manager, and Divisional manager. They are responsible for carrying out the goals set by top level management. They do so by setting goals for their 12

departments and other business units. Middle level managers are motivating and assisting the First level managers to achieve business objectives. Middle level managers also communicate upward, by offering suggestions and feedback to Top level managers. Because Middle level managers are more involved in the day-today workings of a company, they are providing valuable information to the Top level managers to help improve the organization's bottom line. The First level managers of Incepta are: Office manager, Shift supervisor, Department manager, Foreperson, Crew leader, Store manager. First level managers are responsible for the daily management of line workers- the employees who actually produce the product or offer the service. First level managers typically do not set goals for the organization; they have a very strong influence on the company. These are the managers that most employees interact with on a daily basis, and if the managers perform poorly, employees may also perform poorly, may lack motivation, or may leave the company.

2.3 Organizational structure

Incepta Pharmaceuticals in Bangladesh headquartered at Shantinagar, Dhaka. The organization also has some branches in Dhaka, while the full services are available at the head office. The organizational structure of the organization is given below: Service Quality Risk and Control Service Delivery Human Resources Department Operations Legal and Compliance Finance and Administration Corporate & External Affairs

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2.4 Leadership style

In Incepta we found the leadership style is autocratic leadership. In this kind of leadership the Top level manager plans and makes necessary decisions themselves and provides detailed instruction to the other members of the organization.

2.5 Training programs

Like other organization Incepta also invests in training and development program to perform the best of their ability and to develop their careers. They provide jobrelated training course for all employees and leadership training for managers. Medical promotion officers receive detailed training on medicines they promote and the diseases they are designed to treat. They are given training also on appropriate marketing practices. Regular refresher courses are held for all sales employees at least annually. GMP training for factory employees is defined in the specific SOP. The training needs depend on the functions of the employees. Re-training needs are identified by realizing inadequate performance on the job, by performance evaluation. Marketing training programs on brand management, marketing skill development is conducted by in house personnel and by local training organization. To ensure marketing and management excellence every year their sales and marketing employees attend some training programs on Pharmaceuticals marketing in overseas countries by IMS, Bangladesh.

Chapter Three Production and marketing

Production and marketing is must for all organization. Producing new products and sell it to the market is a fundamental work for all organization. Like other

14

pharmaceuticals company Incepta also has some products and they also have marketing strategy.

3.1 Products of Incepta Pharmaceuticals

This company produces medicine in three categories: Therapeutic Group wise Product list Generic Name wise Product list Trade Name wise Product list

GENERAL PRODUCTS LIQUID STERILE (Terminally sterilized and aseptically filled ampoule) SOLID DOSAGE (Capsules, Tablets, Powder) ORAL LIQUIDS TOPICAL CREAMS AND OINTMENT NASAL SPRAY

CEPHALOSPORIN STERILE POWDER (Aseptically filled vials) SOLID DOSAGE (Capsules, Tablets, Powder )

3.2 List of products

Analgesic and Anti Inflammatory Actidex Celenta Cortan

Anti Anginal Angifix Feelnor Trocer

Anti Arrhythmic Norbit

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Edopain Etorac Intafenac Intaflam Nalbun Neforex Oricox Purifen Reservix Reset Reset Plus Salinix Ticoflex Topicacin Wakoflex Winpain Anti Coagulant Parinox Warin Anti Depressent Ameloss Arpolax Duloxen Repose Tenaxit Anti Platelet Lopirel Lopirel Plus Anti Epileptic Barbit Carmapine Gabapen Oxazep Pregaben Valex Anti Spasmodic Cyclopan Drotapan Iriban Timozin Antidiabetic Compimet Consucon Losucon Mefoglip Nobesit Nomopil Piodar

Anti Flatulent Lefoam

Anti Ulcerant Cytomis Esonix Marlox Neofast Omenix Pantonix Rasonix

Antibacterial Adora Beuflox Cefotime Clindacin Clindacin cream Eclox Efdinir Emixef Exephin Firmac Flamyd Gatiflox

16

I Penam Inclox Incotim Intamycin Ipadox Kilbac Levoxin Nintoin Nitazox Oticlor Pedilid Procef Sidobac Tetrafast Tinobac Tridosil Ultrapime Vanmycin Ximeprox Antiemetic Emenil Emenil Plus Onaseron Antifungal Nispore Antihistamine Alervil Encilor Fenofex Ketomar Neocilor Seasonix Sudolor Sudorin Antipsychotic Aripra Cyclid Frenia Halopid Quiet Ropinol

Antihypertensive Amlosartan Amlotab Benadip Carvista Fixocard Idatix Indapril Larcadip Litizem Osartil Osartil Plus Peripril Presonil Ramoril

Antimigraine Topirva Zomitan

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Ramoril Plus Sardopa Valsartil Veracal Antivertigo Menaril Anxiolytic and Tranquilliser Disopan Hypnofast Lozicum Natsin Siesta Zolium Zopilone Drugs for Neuropathy Neuralgia Bio tech Epoetin Maxsulin

Diuretic Acuren Dilast Edeloss and Edeloss Plus Gynaecological Aloxif Lozana Ovuclon Ubilon Hormones

Fertility & Ovulation Stimulant

Hepatitis B Medication Barcavir Celbarin Lamivir lnfovir Irritable Bowel Syndrome Doresa

Herpes Labialis

Laxative Aqualax Inolac Muscle Relaxant Somolax

Lipid Lowering Adiponil Ezetim Nicosit Nofiate Tiginor Vastocor Musculoskeletal Alurol Bonemass D Flexor Hyronate

Mucolytic Expectorant Ambolyt Aquaphen Mucolyt Sudocof Tomephen Nasal Decongestant

Non-narcotic Analgesic

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Joinix Joinix Plus Myolax Myolax Plus Nodia Reconil NSAIDs Nutrient Supplements Alneed Alneed plus Aritone Z Aritone ZI Calcicar Calvimax Cavic C Plus Cavic-C Ceegram Compiron Evagren Inj. K MM Inovit E Mecolagin Ocarnix Osteo D Precare Preneed Prosol IV Proviten A-Z Proviten Silver Vitabion Vitagrow Ziflu Other Prokinetic-Antiemetic Ophthalmic Azecol Dexagurd Dextrobac Dilate DNP Eye drop Eyebet Gatiflox Eye Drop I guard Intobac Lomequin Eye Drop Lopadine Lubric Mastguard Metadaxan Mirolast Moxquin Timopress

Respiratory

19

3.3 Brief description of some products

Actidex Dexketoprofen Presentation Actidex : Each tablet contains Dexketoprofen Trometamol equivalent to Dexketoprofen INN 25 mg. Description 20

Dexketoprofen belongs to a class of medicines called non-steroidal antiinflammatory drugs (NSAIDs). It works by blocking the action of a substance in the body called cyclo-oxygenase. Cyclo-oxygenase is involved in the production of chemicals in the body called prostaglandins. Prostaglandins are produced in response to injury or certain diseases and would otherwise go on to cause swelling, inflammation and pain. By blocking cyclo-oxygenase, dexketoprofen prevents the production of prostaglandins and therefore reduces inflammation and pain. Indications and Uses Symptomatic treatment of pain of mild or moderate intensity, such as musculoskeletal pain, menstrual pain, toothache. Contraindications Dexketoprofen tablets are not recommended to use in patients who areAllergic to this product or any of its components, aspirin or other non-steroidal antiinflammatory medicines. Have suffered attacks of asthma, bronchospasm, acute rhinitis, nasal polyps, urticaria, angioedema (swollen face, eyes, lips, or tongue, or difficulty in breathing), after taking aspirin or other non-steroidal anti-inflammatory medicines. Have or have previously suffered from a peptic ulcer or chronic gastro-intestinal disorders. Have had previously gastro-intestinal haemorrhage (bleeding). Have suffered from bronchial asthma. Have severe heart failure, moderate to severe renal dysfunction or severely impaired hepatic function.

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Have a bleeding disorder, a blood clotting disorder or taking an anticoagulant. Pregnant or breast-feeding. Dosage And Administration The dose of Dexketoprofen is 12.5 mg every 4-6 hours daily or 25 mg every 8 hours daily. The maximum dose is 75 mg daily. For elderly people maximum dose is 50 mg daily. Not recommended for children. Precautions The medicine should be used with caution in conditions mentioned below Allergic to any other medicines. Kidney disease, liver disease, heart disease or fluid retention conditions. Blood disorder, systemic lupus erythematosus or mixed connective tissue disease. Side Effects As with all medicines, Dexketoprofen may cause some unwanted effects in some patients. These are described below and are characteristic of non steroidal antiinflammatory drugs: Common (1 - 10%): nausea, vomiting, diarrhoea, stomach pain or heartburn. Uncommon (0.1 - 1%): sleep disorders, nervousness, headache, dizziness,vertigo, palpitations, constipation, dry mouth, flatulence, skin rash, fatigue, hot flushes, shivering, general malaise. Rare (0.01-0.1%): stomach ulceration, gastric haemorrhage or perforation, pins and needles, high blood pressure, water retention, slowed breathing rate, increased hepatic enzymes, increased sweating. Very rare / isolated cases (<0.01%): blurred vision, ringing in the ear, low blood pressure, haematological reactions, hepatic or renal damage, dermatological and photosensitivity reactions, bronchospasm or anaphylaxis. 22

In patients with systemic lupus erythematosus or mixed connective tissue disease, anti-inflammatory medicines may rarely cause isolated cases of fever, headache and rigidity of the nape (back of the neck).

Use in pregnancy & lactation Do not use during pregnancy or breast-feeding. Use in children Should not be given to children. Commercial Pack Actidex : Each box contains 5 blister strips of 10 Tablets.;

Celenta Celecoxib 100 & 200 mg capsule Presentation Celenta 100 : Each capsule contains Celecoxib INN 100 mg. 23

Celenta 200 : Each capsule contains Celecoxib INN 200 mg. Description Celenta is a non-steroidal anti-inflammatory agent (specific COX-2 inhibitor) having marked anti-inflammatory, analgesic and antipyretic activities with lower incidence of gastrointestinal adverse effects. Indications and Uses Celenta capsule is indicated for the relief of pain and inflammation of osteoarthritis and adult rheumatoid arthritis. Celenta is also indicated to reduce the number of adenomatous colorectal polyps in familial adenomatous polyposis (FAP); as an adjunct to usual care (e.g. endoscopic surveillance, surgery). Contraindications Celecoxib is contraindicated in patients with known hypersensitivity to Celecoxib, who have demonstrated allergic type reactions to sulfonamide or who have experienced asthma, urticaria or allergic type reactions after taking aspirin or other NSAIDs. Dosage And Administration For osteoarthritis and rheumatoid arthritis, the lowest dose of Celenta should be sought for each patient. These doses can be given without regard to timing of meals. Osteoarthritis: For relief of the signs and symptoms of osteoarthritis the recommended oral dose is 200 mg per day as a single dose or as 100 mg twice daily. Rheumatoid arthritis: For relief of the signs and symptoms of rheumatoid arthiritis the recommended oral dose is 100-200 mg twice daily. Familial adenomatous polyposis: Usual medical care for FAP patients should be continued while on Celenta capsules. To reduce the number of adenomatous colorectal polyps in patients with FAP, the recommended oral dose is 400 mg twice daily to be taken with food. Hepatic insufficiency: The daily recommended dose of Celenta capsules in patients with moderate hepatic impairment should be reduced approximately by 24

50%. Precautions Celecoxib cannot be expected to substitute for corticosteroids or to treat corticosteroid insufficiency. Patients on prolonged corticosteroid therapy should have their therapy tapered slowly if a decision is made to discontinue corticosteroids. Celecoxib should be prescribed with extreme caution in patients with a prior history of G.I. ulcer-disease or G.I. bleeding, hepatic and renal insufficiency, heart failure, those taking diuretics and ACE inhibitors, pre-existing asthma, elderly patients. Side Effects Gastrointestinal side effects include abdominal pain, diarrhea, dyspepsia, flatulence and nausea. Central nervous system side effects include dizziness, headache and insomnia. Other side effects include upper respiratory tract infection, skin rash, back pain and peripheral edema. Use in pregnancy & lactation Celecoxib should be used during pregnancy only if the potential benefit justifies the potential risk to fetus. But in late pregnancy Celecoxib should be avoided because it may cause premature closure of ductus arteriosus. It is not known whether Celecoxib is excreted in human milk. Because many drugs are excreted in human milk and because of potential for serious adverse reactions in nursing infants from Celecoxib, a decision should be made whether to discontinue nursing or to discontinue the drug, taking into account the importance of the drug to the mother.

Overdosage Patients should be managed by symptomatic and supportive care following an NSAID overdose. There are no specific antidotes. No information is available regarding the removal of Celecoxib by hemodialysis but based on its high degree of plasma protein binding (>97%) dialysis is unlikely to be useful in overdose. Emesis 25

and/or activated charcoal and/or osmotic cathartic may be indicated in patients seen within 4 hours of ingestion with symptoms or following a large overdose. Forced diuresis, alkalinization of urine, hemodialysis or hemoperfusion may not be useful due to high protein binding. Commercial Pack Celenta 100 : Box containing 5 blister strips of 10 capsules. Celenta 200 : Box containing 4 blister strips of 10 capsules.;

3.4 Production facilities

The production site comprises of six different multi-storied buildings, which provide areas for the production of pharmaceutical products. Cephalosporin and general products are manufactured in those buildings, Cephalosporin facility is physically separated from other areas. Manufacturing and packaging operations are carried out according to the validated methods through systematically qualified machines with full documentation at all stages of operations. The production sites follow the cGMP guidelines for environmental requirements of the manufacturing and packaging area, as well as comply with the EHS requirements. Highly sophisticated HVAC systems are used to condition, monitor and supply clean air to the working zone according to the manufacturing zone concept, capture and control any dust, vapor, gas or fume generated, as well as treatment of re circulated and/or exhausted air. Temperature and moisture level are maintained at the desired level through this system.

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3.5 Equipment facilities for R & D

Incepta has a separate galenical laboratory for R & D, equipped with all necessary machineries & equipments of GMP standard. Analytical development is supported by their Quality Control Department. Quality Control Department is equipped with highly sophisticated instruments like HPLC, Gas Chromatography, Atomic absorption spectrophotometer, FTIR, etc. A dedicated team is involved in the development and validation of methods of API, raw materials & finished products. Their R & D team has pioneered the technology development and subsequent introduction of 53 new products for the first time in Bangladesh market (up to June 2004). Following are a few of this long list of Losartan Potassium tablet Pantoprazole Sodium delayed release tablet Loratadine melt in the mouth (Flash) tablet Verapamil hydrochloride SR tablet Calcium with Vitamin C effervescent tablet Multivitamin with multi-mineral tablet which contains 32 Vitamins & minerals.

3.6 Pricing and promotion

For pricing and promotion Incepta always try to be ahead from their competitors. The organization always thinks that if they take less money for their medicines then they will be able to stay in market in a demanding position.

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Chapter Four Accounting and finance

Owners of the company have invested a bulk amount of money at the starting of the company which is used to be capital. Incepta Pharmaceuticals Ltd., one of the leading pharmaceuticals companies in Bangladesh has recently availed long-term financing of USD 12.5 million from the German development finance institution. Citibank, N.A. Bangladesh played the role of Arranger in the transaction. Issuing share is one the major ways for being financed of this company. Two times in the year Incepta sells their shares in the market. Many shareholders are got interested to get a satisfaction amount of share. So far arranging money has not been a problem for this company.

Success In accordance with the financial support they made a glorious performance in the medicine industry. For instance they got European GMP (Good Manufacturing Practice) award. It will create a new era in exporting pharmaceutical products. The pharmaceutical industry has created tremendous potentiality to earn foreign currency. He assured all the possible assistances from the Government to add muscle in this particular sector. The program started with the welcome speech of Mr. Abdul Muktadir, Managing Director of Incepta Pharmaceuticals Ltd. Besides Mr. Charles Whitley, Charge D Affairs of European Commission, Brig. Gen. Sarker M A Matin, Director, Directorate of Drug Administration, Mr. S M Shafiuzzaman, President, Bangladesh Association

28

of Pharmaceuticals Industries, Austrian pharmaceutical marketing specialist Mr. Joerg Kloppert also delivered their speech.

The

Incepta

has

earned

remarkable

goodwill

both

home

and

abroad

in

manufacturing high quality medicine. On this succession the achievement of this GMP certificate from European Commission has created new possibilities. The respect and position of local pharmaceutical industry will enhance to a great extent internationally by this achievement and the scope of exporting will be higher than ever before.

To mention, by exporting in 19 countries, Incepta is not only bringing fame for the country, but also contributing remarkably in the development of national economy by earning foreign remittance. Incepta Pharmaceuticals Ltd. received accreditation with the European GMP certification on 11th January this year which will allow the company to export in all the countries of European Union and this certification is first ever for any local company. Incepta always try to contribute as much as they can to keep the inflation rate in the satisfactory mood.

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Incepta Pharmaceuticals Ltd received the Enterprise of the Year 2004 Award while Selina Quader received the award for Outstanding Woman in Business of the Year 2004. Two giant screens displayed their exemplary successes in brief. Receiving the Enterprise of the Year 2004 Award on behalf of Incepta Pharmaceuticals Ltd, its Managing Director Abdul Muktadir said his company is a research-based pharmaceuticals company and has achieved unprecedented growth in the recent years. Expressing her reaction to winning the Outstanding Woman in Business of the Year 2004 Award, Agroconcern Proprietor Selina Quader said it was the first recognition of her endeavors. She was sure the award would encourage more women to enter the world of businesse Year 2004, said his company deals with around 60,000 farmers of the country.

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Profit & loss account of Incepta Pharmaceutical for last two years

Details Sales Turnover Excise Duty Net Salessw Other Income Stock Adjustments Total Income Expenditure Raw Materials Power & Fuel Cost Employee Cost Other Manufacturing Expenses Selling and Admin Expenses Miscellaneous Expenses Total Expenses Operating profit PBDIT Interest PBDT Depreciaqtion Other Written Off Profit Before Tax Extra-ordinary items Tax Reported Net Profit Total Value Addition Preference dividend Equity dividend Corporate dividend tax Per share data (annualized) Shares in issues (lakhs) Earnings per share Equity dividend % Book value

Dec 06 1,240.62 101.34 1,139.28 24.55 1.45 1,165.28 387.58 29.93 136.38 102.47 247.48 23.92 927.76 212.97 237.52 3.53 233.99 42.71 0.00 191.28 0.03 191.31 63.66 126.93 540.17 0.00 42.06 5.90 420.56 30.18 3.53

Dec 07 1,429.97 122.09 1,307.88 31.67 27.34 1,366.89 471.61 30.44 154.94 113.41 270.50 32.03 1,072.93 262.2 293.96 4.61 289.35 43.49 0.00 245.86 0.02 245.88 82.46 162.68 601.32 0.00 50.47 8.58 420.56 38.68 4.61

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Chapter Five Business environment

Environment means the inter-relationship existing between water, air, soil and physical property and their relationship with human beings, other animals, plants and micro-organisms. To continue a business an organization has no right to pollute the environment. There are various kinds of pollution. Such as: air pollution, water pollution, noise pollution etc.

5.1 Air pollution

Air pollution occurs when the air contains gases, dust, fumes or odor in harmful amounts. That is, amounts which could be harmful to the health or comfort of humans and animals or which could cause damage to plants and materials. The substances that cause air pollution are called pollutants. Pollutants that are pumped into our atmosphere and directly pollute the air are called primary pollutants. Primary pollutant examples include carbon monoxide from industry exhausts and sulfur dioxide from the combustion of coal.

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Further pollution can arise if primary pollutants in the atmosphere undergo chemical reactions. The resulting compounds are called secondary pollutants. Photochemical smog is an example of this. Incepta Pharmaceuticals always try to avoid the pollution when they make their products. Incepta use those materials which is not harmful for air.

5.2 Water pollution

Water pollution is the contamination of water bodies such as lakes, rivers, oceans, and groundwater caused by human activities, which can be harmful to organisms and plants that live in these water bodies. It occurs when pollutants are discharged directly into water bodies without treating it first. To avoid water pollution Incepta never dump their wastage in to the lakes, rivers or ponds.

As Incepta is a medicine produced company, it has some ethical issues which it has to maintain.

5.3 Not to mix up forbidden materials in medicine

33

Incepta cannot produce any medicine with the help of bad or rotten ingredients because this may cause sufferings to the human being even it can cause death to consumers. It will create a bad image of the company in the market. As a result government will ban that particular product as well as my company. For this reason Incepta always suggest their labour to purify the raw materials of the medicine at every stage.

5.4 Not to sale expired products

As Incepta is a medicine producing company so they have no right to sell any kind of expired medicine by which the consumers can suffer in a long run for their health. If they take this kind of steps they will be punished by the law of Bangladesh Government. By selling expired products the demand of customers will be decreased. Incepta always remain concerned about this thought. Incepta dispose the expired items before it reach to the customers.

5.5 Social corporate responsibility

Incepta achieved its tremendous commercial success through its honesty and sincerity in business policies. The company aims to become nations most admired company through their honest and intelligent approach to everything they do. Company management strives to support this nation as far as possible in times of need. Incepta believes it can survive commercially and grow if the nation remains healthy. Incepta gives emphasis to its practice of CSR and evidence of this commitment is found in its dealing with customers, suppliers, employees, Government and the society at large. Company CSR activity includes its finance because the company pays tax and VAT to the Government and also settles bank and suppliers liabilities in a timely fashion and disburses benefits to employees on time. Incepta considers its employees to be valuable assets and protects their rights and provides a full range of staff facilities including life insurance and disbursement of 5% of the company profit to them. 34

Incepta maximizes safety in work place for its employees and child labour is strictly prohibited. As its commitment to society the company donates medicine to the Government Relief Fund during natural disaster. Incepta also provides financial assistance for ex pensive treatment including heart and cancer and disburses its corporate Zakat for relief of distressed people every year. Incepta also produces life-saving import substitute medicines at affordable price for the people of Bangladesh as an expression of a true love and compassion for the people. All these activities are evidence of a socially responsible and caring company.

Conclusion

Incepta is a fast growing Pharmaceutical company. Incepta develops, manufactures and markets medicines to address the unmet medical needs of Bangladesh market. Now Incepta has gone beyond the boundaries of Bangladesh. The company devotes extensive efforts to increase access to medicines through far reaching distribution network that helps deliver them to the people even in most remote areas. Incepta always try to providing access to safe, effective and affordable medicines and related health care services to the people who need them. Incepta is managed and 35

lead by a dedicated and highly qualified team of doctors, pharmacists, accountants, analytical chemist, engineer and strong sales force. As a company, Incepta seek to maintain high ethical standards and culture that values honesty, integrity and transparency in all levels.

Recommendations

After making the report we found a problem about Incepta Pharmaceuticals that, the numbers of their branches in all over Bangladesh are too little. If Incepta will increase their branches in all over Bangladesh then it will be helpful to improve their condition in business market.

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Glossary
1. Branch: This is the specific outlet of Standard Chartered Bank that a person visits to attain services such as cash/cheque deposit/withdrawal, account opening/closing etc. 2. Customers: These include both account and non-account holders of Standard Chartered Bank who visit our branches to avail a specific service. 3. Zakat: This is an Islamic rule and under this rules almost every Muslims have to give some money to the poor person which is basis on their main income. 37