Pharmaceutical Industry In Bangladesh Research Articles

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.

Emerging Generics and Manufacturers of the Pharmaceutical Industry in Bangladesh

Because of the large population and industrialization, the pharmaceutical industry in Bangladesh is growing fast. Which generics are leading the pharma industry? This study is designed to depict the overall pharma industry value and growth rate along with the emerging generics and manufacturers of the industry. The required data for this study have been collected from IQVIA. The pharmaceutical market of Bangladesh was TK 212.26 billion along with 1,183 generics and 230 manufacturers in MAT 4Q, 2018. After 5 years, in MAT 4Q, 2022, the industry returned to TK 294.59 billion along with 1,246 generics and 178 manufacturers. The industry is expanding gradually, but the small firms are either losing market share or leaving the industry meaning that the industry is converging toward the large firms. The top 20 manufacturers are controlling 91.5% of the industry. The ESOMEPRAZOLE is taking the market share from the OMEPRAZOLE, RABEPRAZOLE. The PREGABALIN showed the highest growth rate among the top 20 generics in MAT 4Q, 2022. The top 20 generics are controlling 37.2% of the industry. The generics-wise and manufacturers-wise market share in this study is the static picture of MAT 4Q, 2022. Industry practitioners, researchers, and other stakeholders might be used this study to understand the pharma industry of Bangladesh for their future business or research.

Antecedents for Creating Loyal Relationship with Retailers: A Study on the Pharmaceutical Industry of Bangladesh

Abstract: Purpose: The study looked at a variety of factors that go into building a loyal relationship between a company and its retailers in Bangladesh's pharmaceutical industry. Research methodology: Ten (10) hypotheses were established based on the literature review. Furthermore, the convenience sampling technique was used to choose the samples. Data were collected from 50 different retailers. In addition, the loyalty-building aspects were assessed using the questionnaire established through an exploratory study. The data were analyzed with SPSS 22.0with the aid of Microsoft excel. Results: Nine out of ten variables were favorably connected with creating a loyal relationship with pharmaceutical retailers, according to the findings of the study. Limitations: This study focused only on Dhaka and Cumilla cities of Bangladesh. Contribution: The conclusion of the study is crucial and the outcome will have a long-term impact on how pharmaceutical companies use various types of tactics in loyalty-building programs with retailers. Keywords: 1. Pharmaceuticals industry 2. retailer 3. loyalty programs 4. promotional strategies

Efficiency Assessment of Pharmaceutical Industry in Bangladesh: An Application of Data Envelopment Analysis

Efficiency Assessment of Pharmaceutical Industry in Bangladesh: An Application of Data Envelopment Analysis

Profitability Analysis of Pharmaceutical Industry in Bangladesh

This paper tries to analyze profitability performance of pharmaceutical companies listed in Dhaka stock exchange in Bangladesh. To achieve the objectives, data have been collected from secondary sources of listed pharmaceutical companies listed in Dhaka stock exchange for the period from 2000-01 to 2017-18. The collected data have been categorized, tabulated and analyzed by different profitability ratios and statistical tools like mean, standard deviation and coefficient of variation. The financial ratios includes gross profit margin, operating profit margin, and net profit margin, return on equity, return on assets. The results indicates that overall profitability of the industry is satisfactory but ambee, Ibn Sina, beximco and glaxo have enough scope to improve operational efficiency and pricing strategy, assets using to generate and retain profit for the shareholders.

Examining transportation disruption risk in supply chains: A case study from Bangladeshi pharmaceutical industry

Transportation is one of the logistical drivers in supply chains. Transportation disruption is costly in supply chains. This paper aims to assess transportation disruption risks using a Bayesian Belief Network (BBN). First, the disruption risk factors and their sub-factors were identified from the relevant articles and experts' opinions. The BBN-based model is developed to calculate the marginal probabilities of the risk factors and their sub-factors to determine the most sensitive factors/sub-factors. The framework was demonstrated using an example case of the pharmaceutical industry in Bangladesh. The findings reveal the usefulness of BBN in examining transportation disruptions in supply chains. BBN captured the interdependencies between the disruption risk factors/sub-factors effectively. The proposed model will be useful to managers for predicting transportation disruptions and to build resilient strategies to tackle them.

Evolution of the Pharmaceutical Industry Bangladesh, 1982 to 2020

Most developing countries depend on imports for the supply of essential medicines. Many developing countries have been finding it extremely difficult to promote local production. But despite being a Least Developed Country (LDC), Bangladesh has succeeded in developing a pharmaceutical industry. The rise of the pharmaceutical industry in Bangladesh is attributed to the Drug Ordinance of 1982. This created a market for the local firms for simple generic formulations which were earlier imported or manufactured by the foreign firms. Local firms grabbed the opportunity and dramatic growth of the industry led by local firms followed. But manufacturing of active pharmaceutical ingredients was neglected. This did not constrain the growth initially with the availability of cheap supplies from India and then China. But this has emerged as a critical bottleneck today. Bangladesh, as an LDC abolished product patent protection in pharmaceuticals in 2008 and what the 1982 Ordinance did for generic products, the change in the patent regime has been doing for patented products. Bangladesh has introduced to the market a number of patented products at very low prices. This is a significant development. But the traditional sources of APIs, viz., India and China cannot officially export patented APIs to Bangladesh unless permitted to do so. Due to the difficulty of sourcing patented APIs, Bangladesh is unable to enjoy the full benefits of absence of product patent protection. Some steps have been initiated for the growth of the API sector. For the efforts to succeed, the government needs to be more directly involved in developing the technological base of the industry.

COVID-19, Consumer Behavior and Inventory Management: A Study on the Retail Pharmaceutical Industry of Bangladesh

Purpose - This paper proposes a thorough investigation of the impact of the COVID-19 Pandemic on consumer behavior and the inventory management of the retail pharmaceutical stores in Bangladesh. This study aims to explore the impact of the factors arising from uncertainty like coronavirus pandemic on the inventory management of retail drug stores across the country.Methodology - 208 pharmaceutical stores staff were surveyed using a 31-items structured questionnaire. As most of the respondents were not well educated the questions were delivered to them in the native language. Exploratory Factor Analysis, Confirmatory Factor Analysis (CFA), and Structural Equation Modeling (SEM) techniques were used to identify the significant factors. Findings - Results demonstrated that five factors namely, improved inventory management, market syndicate & price hike, easier online purchase, delayed delivery, and supply shortage were found significantly responsible for the inventory management disruptions in the retail drug stores of Bangladesh. Practical Implications - The identification of the factors impacting supply chain disruptions in the health and pharma industry may guide policymakers and pharma manufacturers to undertake necessary actions to overcome the accompanying challenges of the coronavirus pandemic. Originality - This study is the first attempt to assess the relationship between a pandemic like COVID-19 and the inventory management disruptions in the retail pharma industry in Bangladesh.

The Success experience of Bangladesh Pharmaceutical Industry: Strategies & Development

This paper reports a case study of the successful development of the pharmaceutical industry in Bangladesh and the critical roles played by the country’s National Drug Policy established in 1982 in boosting this development. The success story of the Bangladesh pharmaceutical sector is very pleasant. It had to travel a long way to achieve the present prestigious position in domestic and international markets. By now (2018), 97% of country’s demand of medicines is produced locally mainly by national pharmaceutical companies, and exporting around US$ 97 million. The pharmaceutical sector of Bangladesh is expanding rapidly and some companies have already certified by different international regulatory authorities like UK-MHRA, Australia-TGA, EU, etc. for quality management and quality products manufacturing. One might wonder why the pharmaceutical industry, which seems to be a capital-intensive, high-tech industry, can be developed in a low-income country like Bangladesh. This paper attempts to explain what characterize the National Drug Policy as an industrial policy, how successful the development of this industry has been since 1982, and to what extent did the pharmaceutical industry contribute to the economic development, then compare it to what was done in Algeria.

Impact of supply chain collaboration and knowledge sharing on organizational outcomes in pharmaceutical industry of Bangladesh

PurposeThis study aims to investigate the proposed relationships concerning the supply chain collaboration (SCC) practices and knowledge sharing with organizational performance in the pharmaceutical industry of a developing country.Design/methodology/approachIn total, 203 executives working in various pharmaceutical companies of Bangladesh participated in the study. Factor analysis and structural equation modeling were applied to test the proposed research hypotheses.FindingsThis study reveals that both knowledge sharing and collaboration practices in the supply chain significantly influence customer satisfaction leading to business competitiveness as evidenced in the superior product quality and new product innovation in this knowledge-intensive industry. It further reveals a statistically significant correlation between SCC and knowledge sharing practices.Research limitations/implicationsThis study is performed only on the manufacturers in the pharmaceutical industry from the perspective of a developing country. Future studies could cover other entities operating in a pharmaceutical supply chain.Practical implicationsThe findings of the study have significant practical implications due to the fact that the aspect of knowledge sharing exerts influence on customer satisfaction that holds the key to competitive priorities. The managers need to address this issue seriously.Originality/valueFew studies have been performed vis-a-vis the impact of both SCC and knowledge sharing on the organizational outcomes in the pharmaceutical industry from the perspective of a developing country.

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.

Firm-specific and Macroeconomic Determinants of Capital Structure: Evidence from Pharmaceutical Industry in Bangladesh

Purpose: This study explores the significance of firm-specific and macroeconomic factors to explain variation in leverage using a sample of twenty listed pharmaceutical firms in Dhaka Stock Exchange over a six year period of 2008-2012. Design: In this study, panel data has been used and both firm specific and macroeconomic factors are analyzed as the determinants of leverage for pharmaceuticals firms in Bangladesh. Findings: This study employs leverage measure (book leverage) as dependent variable and ten factors (liquidity, profitability, tangibility, debt coverage, growth rate, firm size, GDP growth, and inflation, interest rate, and stock market development) as determinants of capital structure. Around 51% variation in leverage is explained by selected macroeconomic and firm specific factors, while the remainder is explained by unobserved macroeconomic and firm specific differences. Practical Implication: Estimated results show that GDP growth has significant positive association with the leverage. However, liquidity, profitability, tangibility, sales growth, inflation, interest rates, and stock market development reveal inverse relation with leverage. Finally the results suggest that that both trade-off and pecking order theories can explain financing decisions of listed pharmaceutical firms in Bangladesh.

Working Capital Management a Measurement Tool for Profitability: A Study on Pharmaceutical Industry in Bangladesh

The paper is an attempt to show the relationship between working capital and the profitability function of pharmaceutical industry in Bangladesh. Working capital management as a financial strategy has its effects on liquidity as well as profitability of the firm. To serve the study mostly secondary data have been used of pharmaceutical companies listed in DSE & CSE and data include time series from annual reports of the selected companies. Sample size includes10 selected pharmaceutical companies and their five years annual data. Multiple regression and correlation have been used to analyze the data. To serve the study perspective, this paper considered the working capital indicators such as (Account Receivable Turnover in days, Account payable Turnover in days, Inventory Turnover in days and Cash conversion cycle) as independent variable where as Profitability indicator (Return on Assets) as dependent variable and found there is a significant relationship between the variables studied. Finally the study shows the rejection of Null hypotheses (H₀) which mentions that there is significant effect of working capital on firm’s profitability. The inference drawn from the study would be able to provide the basis for rethinking the practices of working capital management for competitive survival.

Impulse of Dividend Payment Decision: Evidence from Pharmaceutical Industry in Bangladesh

The dividend is the reward of shareholders of an organization in exchange for time and risk. For maximizing shareholder’s wealth, optimum dividend payout ratio is essential. The prime objective of this paper is to identify impulse of dividend payment decision of listed pharmaceutical companies in Dhaka Stock Exchange of Bangladesh. Dividend payment decision is the dependent variable and profitability, firm’s size, financial leverage, growth, and agency costs are taken as explanatory variables in this study. Collected secondary data are analyzed by econometrics software Eviews 8 through least square method. Formulated multiple regression models show value of R-square (R2) is 0.604817. R-square (R2) value indicates explanatory variables explain 60.48% variation of the dependent variable. The study also reveals that profitability and agency cost positively influence the dividend payment decision and firm’s size, financial leverage, growth negatively impact on the dividend payment decision of selected pharmaceutical companies. Among explanatory variables, profitability is not statistically significant at 5% significant level whereas firm’s size, financial leverage, growth and agency cost are found statistically significant at 5% significant level. So this paper finds that listed pharmaceutical companies in Dhaka Stock Exchange must consider firm’s size, financial leverage, growth and agency cost in their dividend payment decision.

Pharmaceutical Industry of Bangladesh : Progress and Prospects

Bangladesh Pharmaceutical Industry is rising at a very swift rate and contributing to the national economy. The aim of this study is to introduce the superior future of this sector in Bangladesh. It is known as the fastest growing industry in the world. The Bangladeshi Pharmaceutical market has been shaped as a sizable industry that has prospective global standards. This industry has anticipated exporting its products to foreign market with bigger success. This study has been tried to identify the critical success factors with projection of the market growth with particular reasons. The major companies created a great impact that the economy is not being import dependent country anymore with 97% dominance by local firms. This study has also tried to find out the recent development toward the industry such as TRIPS facility, API Park and others. It has also identified the export trend till 2015.

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.

Pharmaceutical Waste Water Treatment & Related Economic Aspects for Reuse in the Context of Bangladesh

The purpose of the work is to investigate the scenario of waste water treatment in pharmaceutical industries in Bangladesh and find some advanced steps to add in the existing ETP with economic considerations. For this, a renowned pharmaceutical industry in Bangladesh has been chosen that represents the feature of ETP in Bangladesh. Generally industries, including pharmaceuticals, discharge their waste water to the environment after treatment; the objective is to show some beneficial ways to use/reuse the treated water, applicable for the pharmaceutical industries in Bangladesh. Sample has been provided by ACI Pharmaceuticals Ltd. and different parameters of their supplied samples (both from inlet and outlet) have been measured to check whether they suit with the present standards of drinking water and/or other standards of industrial discharged water in context of Bangladesh. From the experiment it is found that the values of the different parameters of the treated water of the chosen industry can be considered to be favorable in comparison with the present standards of waste water regulations in Bangladesh. The present investigation also shows that if an ion exchange unit or membrane separation technology is incorporated after filtration, the waste water can be made potable after treatment by implementing some advanced technology DOI: http://dx.doi.org/10.3329/jce.v27i2.17801 Journal of Chemical Engineering, IEB Vol. ChE. 27, No. 2, December 2012: 46-49

Financial Performance of Pharmaceutical Industry in Bangladesh with Special Reference to Square Pharmaceuticals Ltd

Financial performance analysis is a vital tool to find out the efficiency of management in different aspects of a company. Financial performance has been evaluated in the study through analyzing the financial statement i.e. through ratio analysis. Solvency, profitability, activity or turnover and return on assets and equity have been analyzed to measure the financial performance and efficiency of management. To measure the financial strengths and weaknesses of the company is the main objective of the study. This study is empirical in nature and mainly based on secondary data which are collected from Annual reports of 'Square Pharmaceuticals Ltd.'. Data of 08-year ranging from 2006-2013 have been used for conducting the research work. Some ratios, percentage and statistical tools have been used for analyzing and interpreting the data. This study is following the pharmaceutical industry with special reference to 'Square Pharmaceuticals Ltd.'. Proper financial performance of manufacturing sub-sector like pharmaceutical sub-sector may be helpful for preparing fiscal and economic policy of the country. This study is the part of this effort. From the finding of the study, it is said that liquidity position and inventory turnover ratio is not so much satisfactory while the accounts receivable turnover ratio, earning power and return on equity is satisfactory. From overall findings of the study, it is inferred that the management of Square Pharmaceuticals Ltd. has been able to keep stability in running the business as well as bring upward trend in earning profit. Ultimately, the study recommends maintaining an effective coordination among different departments especially in the finance, sales and PPIC department for further improvement of the company.

Problems of enforcements of regulations on pharmaceutical industry in Bangladesh

Problems of enforcements of regulations on pharmaceutical industry in Bangladesh

A Firm-level Analysis of the Vulnerability of the Bangladeshi Pharmaceutical Industry to the TRIPS Agreement: Implications for R&D Capability and Technology Transfer

This study measures the different types of vulnerability experienced by Bangladeshi pharmaceutical firms since 2005, consequent upon the Agreement on Trade Related Intellectual Property Rights (TRIPS) of the World Trade Organisation (WTO). We find that that R&D-related vulnerability was the highest in the pharmaceutical sector in Bangladesh. Cluster analysis supports this proposition as 79.8% of the sampled firms had below average levels of innovativeness. We argue that the TRIPS transition period (which began in 2005 and is to end in 2015) has not been used effectively used by Bang- ladesh, the most technologically advanced LDC to create a strong technological platform for the pharmaceutical industry. Also, the expected process of transfer of technology has not taken place. We recommend that the post-TRIPS industrial policy for the pharmaceutical industry in Bangladesh should be designed and delivered with a key focus to improve the R&D and innovation capabilities of the domestic firms. Moreover, the WTO must evaluate the current mechanisms un- derpinning developed countries-LDCs technology transfer.