The Covid 19 effect pushes back Square Pharma export growth as well delayed launching its Kenya plant.
“The COVID 19 pandemic badly affected the export shipment process with extra lead time affecting the international supply chain system. As a result, exports dropped by 8.83% in the year under review,” the company latest directors report said.
Square Pharma is constantly working to boost its export sales within its current capacity and it is expected to grow significantly in the near future, the company management is hopeful.
Square Pharma exports its medicines to over 45 countries and exported an amount of Tk. 1,507 million in the financial year under review.
Besides, SPL Kenya is to manufacture and sell generic pharmaceutical medicine in Kenya and East African Community.
“I would like to mention that our export-oriented set-up at Nairobi (Kenya), though fully ready, could not be put into operation due to various limitations resulting from COVID 19. We hope, once the situation improves, our thrust on exports will grow and shine like Everest.,” Khandaker Habibuzzaman, Company Secretary said.
SQUARE Pharma’s turnover during the year 2020-2021 was BDT 58.35 billion (US$ 694.76 million) with about 17.21% marketshare and a growth rate of about 10.24% and having around 10,510 employees across the country and abroad.
The market capitalizaon of SQUARE Pharma is around BDT 205 billion (US $2.40 billion), which places it 1st in ranking in the pharmaceucals sector.
SQUARE Pharma, the largest pharmaceucals company in the Country, is a trusted name in the pharmaceucals sector of Bangladesh. SQUARE today symbolizes a name – a state of mind. From the inception in 1958, it has today burgeon into one of the top line conglomerates in Bangladesh.
SQUARE Pharma, the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985.
It has extended its range of services towards the highway of global market.