Analysis of Beximco Pharma, Bangladesh, 2023
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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The primary aim of this report was to examine Beximco Pharma’s internal and external environment using strategic tools such as PESTLE, Porter's five forces, SWOT, VRIO, and the Value chain analysis. The report analyzed the company’s strategic positioning in the market and how it can be strengthened besides the challenges it may be facing.
Beximco Pharma was incorporated in 1976 and it is the leading manufacturer and exporter of medicines in Bangladesh. The company started its operations by importing products from Bayer, German, and USA and selling them in the local market. The company specializes in developing and manufacturing pharmaceutical products for various medical conditions. Among its products are antibiotics that fight infections, and medications that help patients with diabetes, respiratory problems, and gastrointestinal disorders. The company exports its products in more than fifty countries and it employs more than 4,700 employees.
In Bangladesh, the pharmaceutical industry is dominated by companies that produce branded generic drugs, which account for almost 80% of the drugs produced locally, while patented drugs make up the remaining portion which is 20%. Among the key players in Bangladesh include; Roche, Active Fine Chemicals Limited, Beximco Pharmaceuticals, Renata Limited, and Novartis among so many others.
The results of this analysis showed that Beximco Pharma faces several obstacles that affect its performance and efficiency in its operations. Some of these obstacles are; strict regulations that limit its market access and product development, fierce competition from both local and international rivals that erode its profit margins and customer loyalty, and other factors such as high operational costs, low innovation capacity, and environmental issues.
This analysis answered questions like; who are Beximco's competitors? What are its strengths and weaknesses?
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Analysis of Beximco Pharma, Bangladesh, 2023 Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the broad macro and micro environment of Beximco Pharma across its major markets with a focus on the challenges faced by the company.
- Evaluate Beximco Pharma's strategy and business environment in order to identify issues, risks, and opportunities and how they affect its operations and strategic position in a market, using concepts such as PESTLE, SWOT, Porter's Five Forces, VRIO, and generic competitive strategies.
- Use our business strategy case studies to understand real-life strategy applications
1.0 INTRODUCTION
Beximco Pharma was incorporated in 1976, and it is the leading manufacturer and exporter of medicines in Bangladesh. The company started its operations by importing products from Bayer, German, and USA and selling them in the local market. Beximco Pharmaceuticals Ltd. engages in the business of manufacturing and marketing generic pharmaceutical formulation products covering a wide range of therapeutic categories. The Company manufactures more than 300 products in different forms and strengths covering almost all therapeutic categories. It specializes in developing and manufacturing pharmaceutical products for various medical conditions. Among its products are antibiotics that fight infections, and medications that help patients with diabetes, respiratory problems, and gastrointestinal disorders. The company exports its products in more than fifty countries and it employs more than 4,700 employees.
Beximco Pharma has received certification from several global regulatory authorities, including the European Union, Brazil, Australia, and Gulf nations, for its high-quality manufacturing facilities. This demonstrates the company's commitment to excellence and compliance in the pharmaceutical industry.
Beximco Pharmaceuticals Ltd is the only Bangladeshi company listed on the Alternative Investment Market (AIM) of the London Stock Exchange, a platform for high-growth and innovative companies. This reflects the company's commitment to quality, innovation, and global standards (Beximco Pharmaceuticals Limited annual report 2021).
This report is going to use Beximco Pharma as the case study to examine the macro and micro environmental changes in its market. This study will use strategic frameworks such as PESTLE, SWOT, Porter's Five Forces, VRIO, and generic competitive strategies. The report will undertake a strategic overview of Beximco Pharma containing its financial performance, competitive microenvironment, competitive advantage, technological improvement, pricing strategy, and many others.
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