Eskayef beats rivals in sales growth

Eskayef Bangladesh Ltd, one of the fastest growing pharmaceutical companies in the country, posted nearly 25 percent growth in sales last year, the highest in the industry, riding on products innovation and aggressive marketing.
In 2001, the healthcare solution provider sold medicines worth Tk 451 crore, up 24.24 percent from 2010, when the sales stood at Tk 363 crore.
“It is an amazing performance,” said Latifur Rahman, chairman of Eskayef. “The company made tremendous growth last year despite uncertainty following a shake-up in top management. It was a challenging year for us.”
Rahman spoke at the “Annual Conference 2011” of Eskayef at Bangabandhu International Conference Centre in Dhaka yesterday.
He said there was a sea-change at the management structure of the company in December 2009 as the board wanted to inject fresh blood to guide the company to a higher growth trajectory, which made many officials wary of its future.
Rahman said the company has set a target to take its sales to Tk 563 crore this year.
The company’s sales in the animal health business segment also posted the highest growth, taking the turnover to Tk 61 crore last year, which was Tk 45 crore in 2010.
Eskayef started its journey in 1990 after acquiring SmithKline & French. In the first year its turnover was Tk 1.30 crore with a loss of Tk 90 lakh.
Since then the company has not looked back. Some of its products such as Losectil have already grabbed the top position in the Tk 8,000-crore medicine market of Bangladesh.
“In one area where we have never compromised is quality,” said Rahman. “The highest global standard will continue in the coming days, no matter whether we make profit or not.”
Eskayef is engaged in the manufacturing and marketing of a wide range of therapeutic drugs, bulk pellets and animal health and nutrition products. It now supplies medicines to countries such as the UK, Germany, UAE, the Philippines, India, Sri Lanka, Nepal, Bhutan, Sri Lanka, Myanmar, Vietnam, Ghana, Iraq, Indonesia, Kenya, Guatemala, Belize, Macau and Somalia.
It plans to add the names of Malaysia, Uzbekistan, Kazakhstan, Chile, Venezuela, Nigeria, Ghana and Yemen to the company’s list of new export destinations.
“We will soon take our products to the United States,” said the chairman.
Its manufacturing facility in Tongi has achieved approval from the UK MHRA (United Kingdom Medicines and Healthcare products Regulatory Agency) and TGA (Therapeutic Goods Administration) of Australia, to help it become the only company in Bangladesh to get both the accreditations.
Under a contract manufacturing deal between Eskayef and Novo Nordisk, the world’s biggest insulin maker, a high-tech insulin manufacturing plant has been set up in Tongi to provide world-class medicines to the country’s growing number of diabetic patients. It is the third plant of the Danish company in Asia after China and India.
Eskayef manufactures and markets 126 pharmaceutical products in 294 dosage forms and has established 22 products as the brand leader in the market.
Dr Mohammad Mujahidul Islam, general manager (marketing), said the company grew at 17.56 percent last year in terms of introducing new products, much faster than the sector’s overall growth of 11.76 percent. In 2011, it launched 16 new medicines.
Later Rahman named Simeen Hossain, currently a director of Eskayef, as the new chief executive officer of the company.
The meeting also observed one-minute silence to commemorate the death of leading businessman Samson H Chowdhury who passed away early this month.
Eskayef directors Shahnaz Rahman, Saifur Rahman, Atiqur Rahman, Arshad Waliur Rahman and Shahzreh Huq, general managers Mir Mostafizur Rahman, Mostafa Hasan, Motiar Rahman, Abdullah Al-Wahed, KM Ariful Islam and Ikhtiar Hossain were present along with more than 800 officials of the company.

-With The Daily Star input

Related News

Shwapno opens new outlet in Bogura

Business Desk : Shwapno, the country’s biggest retail chain shop, launched its new outlet in Bogura Upashahar area on Friday. During the inauguration programme, franchisee Mohammad Rashdeul Islam, managing director of Bogura Nursing Home AHM Mushihur Rahman, businessman AKM Rajiullah, Hafej Abdul Gaffar Imam, Shawpno zonal manager Musa Tarek, and outlet manager Siddiqur Rahman ... Read more

Hyundai cars will be assembled locally: South Korean envoy

Business Desk : Hyundai cars of Korea will be assembled in Bangladesh by the year end, South Korean Ambassador to Bangladesh, Lee Jang-keun said on Sunday. He said that in recent years, there have been some obvious and significant developments. The majority of Samsung Electronics’ gadgets are produced at Narsingdi in partnership with a ... Read more

Meghna EZ attracts Swiss investments

Business Desk : Sika Bangladesh, a subsidiary of Swiss Sika Group, a producer of construction chemicals, would invest US$6 million to develop a 10,000 square meter plant in the Meghna Industrial Economic Zone (Miez) in Sonargaon, Narayanganj. The factory will mainly produce admixtures and grout, an official said. Construction chemical products worth around Tk ... Read more

EBL raises Tk 122.4cr for TMSS

Business Desk : Eastern Bank Limited (EBL) has raised Tk 1,224 million (Tk 122.4 crore) through the issuance of zero-coupon bonds for Thengamara Mohila Sabuj Sangha (TMSS), a microfinance institution in Bangladesh. The EBL acted as the lead arranger while MTB Capital Ltd played a role as the trustee of the deal, said a ... Read more

Nagad offers up to 20pc cashback for Puja

Business Desk : Mobile financial service Nagad on Monday rolled out a campaign titled “Utshab er Khushi Nagad-a Beshi” on the eve of Durga Puja. Under the campaign, they offered up to 20 per cent cashback and discount for its customers in lifestyle, e-commerce, and restaurant categories at over 50 brand outlets across the ... Read more

GP, Hatil team up to enhance lifestyle

Business Desk : Leading mobile phone operator Grameenphone paired up with premium furniture brand Hatil to enhance the lifestyle of its GPStar customers. Selim H Rahman, chairman of Hatil Bangladesh, and Asif Naimur Rashid, chief business officer of Grameenphone, signed the deal at the GPHouse in Dhaka on Monday, a press release said. Under ... Read more

Brac Bank opens 800th agent banking outlet

Business Desk : Brac Bank has achieved a milestone of opening the 800th agent banking outlet recently. Nazmur Rahim, head of alternate banking channels of the bank, inaugurated the outlet at Kaziganj Bazar in Habiganj on Monday. The bank serves around 2.10 lakh unbanked people in rural and semi-urban areas through its agent banking ... Read more

Newsweek report praises Walton

Business Desk : US weekly magazine Newsweek appreciates Bangladesh’s electric and electronics conglomerate Walton for its growing role in the economic growth and development of the country. The magazine highlighted the country’s development in their recent report, where it mentioned Walton is the corporate pride of Bangladesh whose spectacular growth runs parallel to that ... Read more

Rubana Huq honoured with Human Right Award by CNMI Sustainable Fashion Awards 2022

Business Desk : On the occasion of Milan Fashion Week, former president of Bangladesh Garment Manufacturers and Exporters Association Rubana Huq has been awarded the Human Right Award by CNMI Sustainable Fashion Awards 2022. The National Chamber of Italian Fashion, in collaboration with the United Nations Ethical Fashion Initiative, a programme of the International ... Read more

Registration for Banglalink’s ‘ennovators’ begins

Business Desk : Banglalink has kicked off the registration process for the sixth season of ennovators, a digital idea-based competition in the country. Ennovators is a platform for creative young people of the country looking to showcase their ideas in the field of digital innovation against the challenges of today’s world. Over the course ... Read more

DHL adjusts Bangladesh price for 2023

Business Desk : DHL Express, the world’s leading international express services provider, announced price adjustments today that will take effect on January 1, 2023. The average increase in Bangladesh will be 7.9 %, compared to 2022. “So far, 2022 has been another turbulent year with a volatile market environment challenging global trade. However, we ... Read more

TVS Motor launches new motorcycle

Business Desk : TVS Motor Company launched a 160cc motorcycle in Bangladesh yesterday bearing an anti-lock braking system J Ekram Hussain, managing director of TVS Auto Bangladesh, unveiled the TVS Apache 160 2V at a programme in Dhaka yesterday, said a press release. Rahul Nayak, vice-president of International Business of TVS Motor Company, Biplob ... Read more

CPA to start construction works of Bay Terminal in 2023

Business Desk : The Chittagong Port Authority on Wednesday informed that they had completed all the preparations, including land acquisition and design, to start the construction works of the Bay Terminal in Chattogram from January 2023. CPA chairman rear admiral M Shahjahan disclosed the information at a press conference at Munshi Fazlur Rahman auditorium ... Read more

Tri-nation firm Gava to invest $25.62m in Dhaka EPZ

Business Desk : Gava Private Limited, a company owned by Hong Kong, Sri Lanka and Switzerland, is going to invest $25.62 million at Dhaka Export Processing Zone (DEPZ) to set up a garment manufacturing industry. The company will produce annually 4.4 million pieces of jackets, fleece jackets, t-shirts, polo shirts, sweaters, trousers, coverall, stretch ... Read more

GP received approval to sell used recycled SIMs

Business Desk : The telecom regulator recently permitted Grameenphone (GP) to sell unused pre-approved old numbers that had been out of service for more than 450 days, a Bangladesh Telecommunication Regulatory Commission (BTRC) official said. Grameenphone has already started selling SIM cards against its suspended unused numbers, following regulatory approval. But, the ban on ... Read more

InterContinental Dhaka wins ‘World Travel Awards’

Business Desk : InterContinental Dhaka has been voted winner of a 29th Annual World Travel Awards 2022 in categories “Bangladesh’s Leading Hotel 2022” and “Bangladesh’s Leading Hotel Suite 2022 – Presidential Suite”. The Asia and Oceania Gala Ceremony 2022 of World Travel Awards was organised in Ho Chi Minh City in Vietnam recently, said ... Read more

Brac Bank, BB hold training for entrepreneurs

Business Desk : Brac Bank conducted a training with technical assistance from Bangladesh Bank for 50 promising entrepreneurs. The “Entrepreneurship Development Programme” was held in two phases at the lender’s head office in Dhaka yesterday, said a press release. The programme is funded by Asian Development Bank and managed by Skills for Employment Investment ... Read more

Samsung launches new locally made models

Business Desk : Samsung Electronics, a South Korean multinational electronics corporation, yesterday launched a new line of televisions in Bangladesh through an event in Dhaka. The latest models that come with cutting-edge technology, smart features and innovative designs are being locally manufactured by two companies, namely Transcom Limited and Fair Electronics. Shahriar Bin Lutfor, ... Read more

Samsung Bangladesh launches new line of televisions

Business Desk : South Korean electronics giant Samsung Electronics today launched a new line of televisions for the Bangladesh market through an event in Dhaka. The latest models that come with cutting-edge technology, smart features and innovative designs are being locally manufactured by two companies, namely Transcom Limited and Fair Electronics. Televisions were once ... Read more

Salman Khan clothing brand to open outlet in Dhaka

Business Desk : The first franchised store of Bollywood superstar Salman Khan’s clothing line ‘Being Human’ will open in Bangladesh tomorrow. The outlet is situated at Banani in Dhaka. Founded in 2012 as an extension of the non-profit foundation established by Bollywood stars, Being Human Clothing currently operates in more than 15 countries and ... Read more