Pharmaceutical Companies In Bangladesh Research Articles

Does Financial Leverage Impact the Financial Performance of Pharmaceutical Companies in Bangladesh?

Does Financial Leverage Impact the Financial Performance of Pharmaceutical Companies in Bangladesh?

Green Training and Development Revolutionizing Organizational Performance: The Moderating Role of Green Employee Involvement in the Bangladeshi Pharmaceutical Industry

Green Human Resource Management (GHRM) has been found to positively affect job satisfaction (JS) and job performance as employees are more engaged and motivated to improve organizational performance (OP). However, few studies have investigated this phenomenon, and none have examined green employee involvement (GEI) within the Bangladeshi context. Therefore, this study examines the moderating role of GEI and the mediating role of JS and employee motivation (EM) on green training and development (GTD), organizational commitment (OC), and OP among pharmaceutical companies in Bangladesh and contributes to the theories of action and job performance and of ability-motivation-opportunity. Self-administered surveys were sent to executives working in 10 pharmaceutical companies in Bangladesh, and data were collected from 180 respondents using convenience sampling. These findings show that the GTD positively influenced OC and OP. Additionally, GEI played a significant moderating role between GTD and OC and GTD and OP. The study also revealed that JS played a significant mediating role between GTD and OC and, GTD, and OP. However, EM did not play a mediating role between GTD and OC and GTD and OP. Based on the research findings, pharmaceutical companies in Bangladesh should embrace GHRM practices, prioritize GTD, foster EI, and nurture JS, which are crucial for enhancing OC and OP. These recommendations contribute to a better understanding of sustainable HR practices and underscore the importance of aligning environmental goals with organizational success. The limitations of this study include limited generalizability, convenience sampling, cross-sectional design, self-report bias, limited mediation analysis, and omitted variables. To address these limitations, future research should employ a more diverse and representative sample, use longitudinal designs to establish causal relationships, incorporate qualitative methods to gather in-depth insights, and include a broader range of variables.

Quality Assessment of Hydroxychloroquine Tablet: A Comparative Evaluation of Drug Produced by Different Pharmaceutical Companies in Bangladesh

Hydroxychloroquine is the most commonly prescribed antimalarial extensively used to treat rheumatoid arthritis. It is extensively utilized as a repurposing drug, as well, in many countries worldwide to treat COVID-19. The pharmaceutical sector of Bangladesh is much enriched, and different pharmaceutical companies in Bangladesh produce this drug. Since the drug quality might vary significantly among different brands, assuring the quality of medicine is absolutely necessary considering the health issues, particularly therapeutic efficacy and safety. Therefore, this study examined the quality of hydroxychloroquine produced by Bangladeshi pharmaceutical companies, concentrating on quality control parameters: the assay, dissolution, disintegration, hardness, friability, and weight fluctuation. All the brands of hydroxychloroquine tablets contained the stated amount of API between the range of 96.41±0.62 and 100.61±0.71 that met USP specification (100±5%). All brands met the pharmacopeial limit for the percentage of weight fluctuation, hardness test, friability, and disintegration time. Weight variation was between 0.31±0.01% and 0.46±0.02%, hardness was between 4.31 ± 0.88 and 7.36 ± 0.74 kgf, friability was less than 1%, and disintegration time was 5.42± 0.11 and 5.42± 0.11 min. In the dissolution test, all the samples attained more than 70% dissolution after 30 minutes. The mean percentage of hydroxychloroquine released in phosphate buffer was between 95.44±0.55 (Brand B) and 98.19±0.39 (Brand C) after 60 min. No significant difference was among the tested drugs from different companies, and all quality assessment parameters were within USP specifications. Therefore, hydroxychloroquine from the Bangladesh market is safe and effective.

Role of laissez-faire leadership in talent management: Evidence from the pharmaceutical industry of Bangladesh

Laissez-faire leadership is mainly perceived as zero leadership, and research on it is relatively scant compared with other dominant approaches to leadership. Although the adverse effects of laissez-faire leadership have been well examined, its influence on talent management (TM) has been undiscovered. This study assessed the impact of laissez-faire leadership on TM strategies, including talent attraction, retention, engagement, and development. Data were collected from 460 employees of pharmaceutical companies in Bangladesh using judgmental sampling. Structural equation modeling was employed to test the hypothesized relationships between laissez-faire leadership and TM strategies using social exchange theory. This study found positive effects of laissez-faire leadership on talent attraction, retention, development, and engagement. These findings suggest that if talented employees are given freedom, they tend to engage and secure more opportunities for self-directed development by solving problems independently. This study contributes to the understanding of how laissez-faire leadership may constructively affect TM in the context of a developing economy's pharmaceutical industry. Finally, this study provides recommendations for practitioners of pharmaceutical companies to improve their strategic choices regarding laissez-faire leadership to ensure better TM strategy practices.

Evaluation of Critical Quality Attributes of Immediate Release Ciprofloxacin Tablets of Different Pharmaceutical Companies in Bangladesh

Critical Quality Attributes (CQAs) is an important factor in Pharmaceutical development as it determines the strength, release of the API from SDFs, and stability of a pharmaceutical dosage form. Moreover, substandard and counterfeit drugs have been a major concern in recent days.Ciprofloxacin is a second-generation fluoroquinolone derivative that exerts its effects by inhibiting bacterial DNA gyrase (Topoisomerase II). It is used for the treatment of bacterial gastroenteritis, respiratory tract infections, controlling bronchitis and pneumonia caused by Gram negative bacteria. Ciprofloxacin has been listed in the World Health Organization (WHO) Model list of Essential Medicines. In recent decades, the pharmaceutical industry has been experiencing excellent growth in both local and international market.In our present study, we have analyzed theCritical Quality Attributes (CQAs) including length, thickness, friability, weight variation, hardness test and disintegration time of Ciprofloxacin tablet to study whether the ciprofloxacin immediate release tablets of different pharmaceutical companies available in the Bangladeshi market to assess whether they are compliant to BP or USP guidelines in respect of physical parameters. We have also performed statistical analysis and found that that all the tablets from different brands are within the BP or USP requirements. So, from the study, we reached the conclusion that the critical quality attributes for ciprofloxacin immediate release tablets of different pharmaceutical companies in Bangladesh ensure the appropriateness of their strength, purity, release of the API from SDFs, and stability.

A Study on the Pharmaceutical Companies of Bangladesh

The study aims at measuring the degree of compliance with the disclosures required by the IFRS 7 particularly by the pharmaceutical companies of Bangladesh. Secondary data from the audited financial statements of the pharmaceutical companies found that most of the companies have complied with most of the disclosures required by IFRS 7. The companies could not comply with few disclosures due to various drawbacks like legal difficulties and complexities etc. The study also found that a higher degree of compliance brings better true and fair views of the organizations and vice-versa. Higher degree of compliance results in better management control as well as managing fund crisis and other related issues in better ways. On the other hand, the study further found that non-compliance with the disclosures result in corruption by the management of the organizations. Finally the study recommends that the companies should try to improve the financial performance as well as the fairness offinancial representation to better comply with the disclosures required by !FRS 7. Further research is also recommended for ensuring the highest level of compliance with the said disclosures.

Disclosure of Property, Plant and Equipment as per BAS #16: A Study on Selected Pharmaceutical Companies in Bangladesh

Disclosure practices of pharmaceutical companies in Bangladesh as per BAS-16 are not well structured at all although Companies Act, 1994, Bangladesh Securities Exchange commission Rules 1987 are followed strictly. The major reasons for non- compliance is that the application of BAS-16 is not made mandatory up till now. Details of measurement basis, depreciation methods used, useful life of assets, gross carrying amount, nature of impairment of assets etc. are not disclosed at all. This affects the decision making of the stakeholders. There is ample scope for developing the fair disclosure of Property, Plant and Equipment in consistence with the requirements of BAS-16.

PHOTOLYTIC DEGRADATION STUDY ON FILM COATED ATENOLOL TABLET AVAILABLE IN MARKET

Objective: Despite its sensitivity to light, atenolol has been manufactured as a film-coated tablet with normal blister packaging by several pharmaceutical companies in Bangladesh. The aim of this study was to investigate the extent of light-induced potency degradation of a randomly selected film coated brand of atenolol.Methods: Atenolol tablets were exposed to different lighting conditions such as normal room light, direct sunlight and different incandescent lights (25W and 40W). Subsequently, UV spectroscopy technique was employed to determine the relative reduction of light absorbance compared to their respective controls. Thereafter, photolytic degradation was calculated by means of the potency reduction of tablets.Results: In all lighting conditions, atenolol tablets underwent exposure dependent gradual decrease in potency. Except for normal room light condition, a significant decrease in potency was found even after 4 to 6 h of exposure to all lighting conditions. After 6 h, potency reduction was found at 40-47%, 26-38% and 34-36% in the samples exposed to direct sunlight, 25 W bulb, and 40 W bulb respectively. Although the shelf life of the film coated tables was 2 y, surprisingly, statistically significant reduction in potency was observed within only 30 d in room light condition.Conclusion: In order to protect from light, blister packaging is not sufficient for film coated atenolol tablets. Photo-stability of all brands of atenolol must be ensured either by protective packaging materials or by optimizing the formulations.

Decision modeling of risks in pharmaceutical supply chains

PurposeManaging risks is becoming a highly focused activity in the health service sector. In particular, due to the complex nature of processes in the pharmaceutical industry, several risks have been associated to its supply chains. The purpose of this paper is to identify and analyze the risks occurring in the supply chains of the pharmaceutical industry and propose a decision model, based on the Analytical Hierarchy Process (AHP) method, for evaluating risks in pharmaceutical supply chains (PSCs).Design/methodology/approachThe proposed model was developed based on the Delphi method and AHP techniques. The Delphi method helped to select the relevant risks associated to PSCs. A total of 16 sub risks within four main risks were identified through an extensive review of the literature and by conducting a further investigation with experts from five pharmaceutical companies in Bangladesh. AHP contributed to the analysis of the risks and determination of their priorities.FindingsThe results of the study indicated that supply-related risks such as fluctuation in imports arrival, lack of information sharing, key supplier failure and non-availability of materials should be prioritized over operational, financial and demand-related risks.Originality/valueThis work is one of the initial contributions in the literature that focused on identifying and evaluating PSC risks in the context of Bangladesh. This research work can assist practitioners and industrial managers in the pharmaceutical industry in taking proactive action to minimize its supply chain risks. To the end, the authors performed a sensitivity analysis test, which gives an understanding of the stability of ranking of risks.

Productivity Changes of Pharmaceutical Industry in Bangladesh: Does Process Patent Matter?

The large pharmaceutical companies in Bangladesh have currently expertise in process patent activities rather than in product patent. Such industry condition can easily generate a high profile in production and sales. However, achieving sustainability in the long run using automation and purchase of the patent only seems unsuitable. In the last two decades, it is found that both the medium and big size companies have leaned on introducing automation in their existing product plants, improving them in nothing but production. The article measures technical efficiency using data envelopment analysis (DEA) over the period of 2009–2013. We use one output—annual sales—and three inputs, namely, (a) fixed asset, (b) raw material cost and (c) cost of salary to run Malmquist total factor productivity (TFP) index. The major contributor of TFP growth is found due to the technological positive growth with a value of 10.8 per cent annually. Moreover, all changes of technical efficiency, pure efficiency and scale efficiency have regressed with values of 5.5 per cent, 2.1 per cent and 3.5 per cent, respectively. Thus, the gains in productivity are entirely due to technological advancements and not for technical improvements. The main source of inefficiency in pharmaceutical industry is scale inefficiency rather than pure technical inefficiency. Limitations and policy implications are addressed.

Impact of Working Capital Management on Profitability: A Case Study on Pharmaceutical Companies of Bangladesh

Impact of Working Capital Management on Profitability: A Case Study on Pharmaceutical Companies of Bangladesh

Evaluating the Financial Performance Through ‘Consumer Centric Decision’ Approach in Pharmaceutical Companies of Bangladesh: a Business Planning Perspective

Pharmaceuticals agglomerations consistently use their brand image and versatile product portfolios to consolidate their position in the financial sector, which is evident in their continuous profit making and expansion in market share. This paper explores the short-term and long-term investment attractiveness through ‘consumer centric decision’ approach in two selected pharmaceutical companies, Renata Limited and Orion Pharma Limited, of Bangladesh over the last three years’ period. This research adopts a systematic approach which primarily addresses the various concerns of investors to illustrate the decision-making process of the existing and future investors. Using primarily domestic transaction data, this study explores how the leading pharmaceuticals companies of Bangladesh effectively use the wide array of drug portfolios mix with appropriate branding techniques to increase their financial profit and market share simultaneously. Both SWOT analysis and Porters Five Forces Model explore the business analysis of Renata Limited in compare to Orion Pharma Limited that provides a conclusion regarding investors’ decision to invest in Renata Limited. Considering the financial analysis, Renata’s financial liquidity is not very satisfactory and could have been improved further if management is prudent on financial strategy settings. Findings of the business analysis indicate that Renata Limited would be a good investment choice for existing and prospective shareholders based on its opportunities for long term and short term growth and further expansion in developing the market. The results suggest that even lower liquidity coupled with higher interest borrowings can be balanced by posing positive picture to the public shareholders by returning the positive dividend to them.

Investigation on Practicing Carroll’s Pyramid of CSR in the Pharmaceutical Industry of Bangladesh

Recent studies show that direct emission from drug manufacturing as a source of much higher environmental discharges that, in some cases, greatly exceed toxic threshold concentrations. Also, the wastewater from drug manufacturers causes river sediment, groundwater and drinking water polluted. Therefore, proper practice and effective implementation of Corporate Social Responsibility (CSR) is necessary for this industry. The basis of what we consider to be the modern definition of CSR is rooted in Carroll’s Pyramid of CSR. This paper aims to investigate the level of CSR activities practiced in the pharmaceutical industry of Bangladesh by using Carroll’s Pyramid. This study also targets to confirm the steps of Carroll’s pyramid. In line with the objectives, this paper firstly reviews the literature of CSR and Carroll’s Pyramid. Second, a study is planned by conducting in-depth interviews of 20 top-level executives of Dhaka Stock Exchange (DSE) enlisted seven pharmaceutical companies in Bangladesh. The analysis results that pharmaceutical companies are not following the hierarchy of Carroll’s pyramid and in some cases, the steps overlapped each other. Also, the top management of most of the pharmaceutical companies has a lack of understanding of the proper CSR concept. The study provides two important policy implications. First, pharmaceutical companies should follow Carroll’s pyramid to implement better CSR to generate above-average returns. Second, companies can create a structured industry norm to practice CSR like the banking sector in Bangladesh to get shared benefits.

Bangladesh Health Service Delivery: Innovative NGO and Private Sector Partnerships

The recent health service delivery achievements in Bangladesh have been attributed, in part, to partnerships between the government and non-state actors and the early and rapid adoption of innovations. Through the analysis of two case studies, this article examines the factors contributing to successful partnerships for health market innovations in Bangladesh and the extent to which these innovations can contribute to market systems changes that benefit the poor. The first case examines an innovation which aims to address maternal and child health issues by creating access to information on prenatal and post-natal care through mobile phones. The other case illustrates how Bangladesh's leading NGO partnered with one of the largest pharmaceutical companies in Bangladesh to develop a model for rural distribution of a micronutrient food supplement, ‘sprinkles’, to tackle the problem of micronutrient deficiency in young children.

Corporate reporting of intellectual capital: evidence from the Bangladeshi pharmaceutical sector

Purpose– The purpose of this paper is to provide an understanding of the intellectual capital (IC) reporting practices of the Bangladeshi pharmaceutical industry, one of the most significant industries to the Bangladeshi economy. It investigates the extent and qualitative characteristics of IC disclosures made by listed pharmaceutical companies in Bangladesh.Design/methodology/approach– Data are gathered through a content analysis of the 2006 annual reports of 16 pharmaceutical companies quoted on the Dhaka Stock Exchange. The content analysis is performed by IC topic (i.e. categories and subcategories) and three semantic properties of IC disclosure: first, format (i.e. discursive, numerical but non-monetary, numerical-monetary and visual); second, news-tenor (i.e. positive, neutral and negative); and three, time-orientation (i.e. forward-looking, non-time-specific and past-oriented).Findings– Results suggest a clear awareness among the Bangladeshi pharmaceutical companies of the significance of IC in corporate value creation and a commitment to publicly communicating IC. Some evidence is found of the need to manage stakeholder relationships, and legitimacy and impression management motives underpinning the management's desire to disclose IC. Also, proprietary cost theory explains the variation in the disclosure of types of IC. The Bangladeshi pharmaceutical companies did not adopt a consistent framework for IC reporting. A lack of consistency in reporting IC was also evident as the extent and subcategories of IC disclosures varied among companies. The findings indicate the Bangladeshi pharmaceutical companies may not have properly measured and managed their IC.Research limitations/implications– There are two main limitations specific to this study. First, it only provides a snapshot of IC disclosure practices of Bangladeshi pharmaceutical companies in 2006. Changes may have taken place since then that would have affected the IC-intensity and IC utilisation of these entities. Second, the study's sample is limited due to its focus on one industry. However, it is representative of the population as it includes more than two-thirds of Bangladeshi pharmaceutical companies. This limitation affects the ability to conduct statistically meaningful analyses for testing any hypotheses relating to IC disclosure.Originality/value– This is the first study on IC reporting practices of Bangladeshi pharmaceutical companies. Unlike most prior studies on IC disclosure practices, this study measures the quality of disclosures by analysing their semantic properties. The paper highlights the need for building organisational competencies in managing, measuring and reporting IC in Bangladesh.

HRM Practices and it Impact on Employee Satisfaction: A Case of Pharmaceutical Companies in Bangladesh

The manufacturing and service sectors in Bangladesh have been growing rapidly since the beginning of twenty first century. From the beginning of the industrial development in Bangladesh, some sectors including pharmaceutical are demonstrating extraordinary performance in manufacturing process. The study has been conducted on four large scale pharmaceutical companies based on their employees’ response. Various statistical tools were used including mean, z-test, proportion analysis etc. to analyze the satisfaction level of employees upon the critical aspects of human resource management practices. In this study, it has been aimed to assess the employee satisfaction on human resource management practices of pharmaceutical companies in Bangladesh. The human resource management practices are directly linked with the human resources of any organization. The findings of this study illustrate that the recruitment & selection, and training & development are in state of employee satisfaction level except all other aspects of human resource management practices are poor. For the success of the pharmaceutical companies it is crucial time to make the workforce more effective and efficient by practicing the human resource management aspects in their every level of work life.

Measurement of Financial Motivator’s Effectiveness in Pharmaceutical Companies in Bangladesh

Here the researcher has presented a comparative measurement of financial elements that motivates employees. Like other organizations it is important for the related parties to know what motivates the employees to work. The study on motivation has to determine two major things. First, the degree of need satisfaction of each category as desired by the employees and second, the extent of which such needs are currently being met effectively. These two figures may help in finding out the deficiency, if any in the area of need satisfaction. Motivation theory prescribes us that compensation packages must be designed with employees needs in mind, if the rewards are to create satisfaction and stimulate them to high levels of job productivity. Otherwise, high levels of productivity in job and job satisfaction will not be sustained. Here the researcher has attempted to determine the level of motivation of the employees to the various financial motivators existing in their organization. Thus he has tried to know, whether the employees of the selected companies are motivated or not. To measure the motivation level, Likert’s five-point scale has been used. The total number and percentage of respondents belonging to each level of satisfaction have been shown separately.

Market Survey and Analysis of Packaging Information Provided by Different Pharmaceutical Companies of Bangladesh

The purpose of the present study was to investigate whether or not the pharmaceutical companies of Bangladesh are providing all the necessary information and instructions in the packaging materials of pharmaceutical products which are available in Bangladesh. With this aim, the sample of secondary packaging material (cartons, labels, inserts or direction slips) of a total 150 products (from 50 generics) marketed by 15 pharmaceutical companies have been selected and were collected from different medical stores of Dhaka city. The packaging materials of the collected samples were then evaluated based on various regulatory and clinical parameters. It was found that some of the packaging materials of these selected pharmaceutical products lack several important information in terms of clinical and regulatory parameters which limits the quality of these packaging materials. DOI: http://dx.doi.org/10.3329/bpj.v15i2.12585 Bangladesh Pharmaceutical Journal 15(2): 165-169, 2012

The Recruitment and Selection Process of Pharmaceutical Companies in Bangladesh: A Case on GlaxoSmithKline Bangladesh Limited

GlaxoSmithKline (GSK) Bangladesh Limited, a subsidiary of GlaxoSmithKline plc is world's one of the leading research-based pharmaceutical companies that commits to improve the quality of human life with an immense status and brand image all through Bangladesh over last 60 years. It is the human resource who has maximized the success of the company. Recruitment and selection practices are the key factors to the entry point of human resources which ensures the success and growth of an organization. In this study the detail chain and sequence of activities pertaining to recruitment and selection of different level of management and non-management employable candidates has identified through interviewing the HR employees of GlaxoSmithKline Bangladesh Limited. Findings show that the case study organization is doing a very good practice in recruitment and selection process that could help many other employers in Bangladesh and around the world to get suitable candidate and also helpful for researcher to do more research on recruitment and selection process.

Human Resource Management Practices and Firms Performance in Bangladesh: An Empirical Study on Pharmaceutical Industry

This research work has been conducted in the field of human resource management (HRM), more specifically on firm performance. The aim of the study is to show the relationship between HRM practices and firms performance of pharmaceutical industry in Bangladesh. It is assumed that HRM practices could positively influence profitability and growth and depressingly bias employee turnover.  The primary data were collected using structured questionnaire sent to employees of different departments having different job status of some pharmaceutical companies in Bangladesh. Secondary data were collected from annual reports of the selected companies for measuring and finding out their performance. The paper has tried to elucidate  the role of HRM practices and to test the relationship among the variables indicating that HRD has a relationship with performance like inventory turnover, total assets turnover, net profit margin, gross profit margin etc. It is found that HRM practices enhance performance of the pharmaceutical firms in Bangladesh.