Apex Pharmaceutical Limited Course Name: Principles of Marketing (MKT 101) Section: 08 Date of Submission: 22 nd November, 2011
Prepared For Mashruha Zabeen Lecturer Department of Business Administration East West University
Prepared By Morshed Alam Shuva – 2010-2-10-043 Ahmed Jobair Akib – 2010-3-10-072 Md. Ashiqul Islam -2010-2-10-105 Nayma Nazneen – 2010-2-10-41 Department of Business Administration
East West University 1
LETTER OF TRANSMITTAL
22nd November, 2011 Mashruha Zabeen, Lecturer, Department of Business Administration, East West University
Subject: Submission of term paper.
Dear Mam, This is a great pleasure for us to submit a term paper on “Apex Pharmaceutical Ltd” We considered your remarks and instructions very carefully while preparing this report. We have tried to visualize all the areas related to this topic. We would like to express our heartiest gratitude to you, for your tiresome efforts for us, which provided us the opportunity to prepare term paper. We have tried our level best to present the paper according to the vital standard and requirements. While preparing this paper we have enriched our knowledge a lot about “Principles of Marketing (MKT 101)”. We will be highly encouraged if you are kind enough to receive this term paper. We hope this paper will serve its purpose. We are hoping your kind advice and suggestions for our any mistake.
Sincerely yours,
Morshed Alam Shuva- 2010-2-10-043 Nayma Nazneen – 2010-2-10-041 Ahmed Jobair Akib – 2010-3-10-72 Md. Ashiqul Islam – 2010-2-10-105
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Acknowledgement
At first we desire to express our deepest sense of gratitude of almighty Allah. With profound regard we gratefully acknowledge our respected course instructor Mashruha Zabeen, Lecturer, Department of business Administration, for her generous help and day to day suggestion during preparation of the research pap er.
We would like to give thanks especially to our friends and group members, for their enthusiastic encouragements and helps during the preparation of this research paper by sharing ideas regarding this subject and for their assistance in typing and proof reading this manuscript.
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Executive Summary
For the first time in the history of the local pharmaceutical industry, a Ba ngladeshi company, Apex Pharma Ltd., has assembled a top flight corporate management team with an unparalled blend of local and international pharmaceutical expertise. This management team has proven abilities of building successful businesses and is importantly being led by a dynamic and highly respected CEO with a proven track record of success in the pharmaceutical industry. Apex Pharma markets, promotes and manufactures ethical and OTC generic pharmaceutical products. The company covers the areas of CNS, Dermatology, Rheumatology, Oesteology, Infectious Diseases and OTC products and is looking to forward to expand to Biotechnology, Cytokines, Endocrinology, Cancer and Oncology. Apex Pharma is the Middle East agent for the French Company Laboratories Aguettant for their range of ICU, Trace elements and TPN line.
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Table of Content
Company Profile
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Company History
Apex Pharma Ltd. (APL) is the pharmaceutical u nit of the highly reputed Bangladeshi business conglomerate, SYED MANZUR ELAHI ENTERPRISES. The Enterprises include, Gallerie Apex, Apex Adelchi Footwear Ltd., Apex Tannery Ltd., Grey Advertising Bangladesh Ltd., Quantum Market Research Bangladesh Ltd., and Blue Ocean Footwear.
The company has already a Bangladesh Drug Administration regulated facility (WHO cGMP standard) for tablet, capsules, injectable, semisolid, liquid and ophthalmic products. APL's purpose-built manufacturing facility has separate and dedicated Cephalosporin, Penicillin and General production units. This ensures the production of medicines with the highest quality, efficacy and safety. APL has initiated alliances with reputed multinational companies with a view to future expansion, nationally as well as internationally. APL has achieved a major milestone in January 2011. A top flight management team with extensive pharmaceutical experience, both nationally and internationally, has been assembled to lead the company to new heights. The team is being led by Mr. A.M. Faruque, the company’s Managing Director and CEO, a dynamic and highly regarded industry leader with
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a proven track record of remarkable successes in the Bangladeshi pharmaceutical industry. Mr. Faruque is renowned for building professional, ethical a nd quality businesses within the Bangladeshi pharmaceutical industry. Under his leadership, APL has prioritized a structured programmer for national and international expansion.
APL has recently signed a comprehensive contract with Rob Walker GMP Consultancy Ltd. (RWGMP) to obtain UK MHRA and Australian TGA accreditations for its purpose bu ilt manufacturing facility. RWGMP is based in the UK and has vast experience in obtaining MHRA accreditations in Europe, Africa and Asian countries, including Bangladesh. Mr. Walker and Mr. Bill McKean who is a UK Pharmacist (presently associated with APL as its Chief Technical Officer) will now work together to ach ieve MHRA accreditation within the quickest possible time.
An agreement has also been signed with Mr. Peter Bains, Director of Peter Bains Consultancy Ltd. (PBC) of UK. Under this agreement, a strategic alliance has been established between APL and PBC towards rapidly developing pharmaceutical business
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nationally as well as internationally. Mr. Bains will now work closely with the APL Board and its management team in building strategic alliances and partnerships with local, regional and global innovation based pharmaceutical and life science companies. APL is moving fast towards attaining its operational vision of becoming a global centre of excellence for pharmaceutical manufacturing. The company is intending to partner with multinational companies to ensure access to the latest manufacturing technologies and newest products. Apex Pharma's performance vision is to become one of the top 10 pharmaceutical manufacturers in Bangladesh within the shortest possible time.
Management
Market share According to Bangladesh Pharmaceuticals and Healthcare Report Q1 2011, in Bangladesh pharma industry top five companies are Square, Beximco, Eskayef, Acme and Incepta. (Base on Sales). Where Apex Pharma still fighting to get the place in consumer mind.
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25% 20% Square Beximco Eskayef Acme Incepta Apex Other
15% 10% 5% 0% Market Share(Base on Sales)
Mission People
To have highly trained and knowledge based professionals, who will be recognized and admired by its customers, competitors and partners.
Quality
To make available the highest standard, cost effective and safe medicines.
Operations
To become a global centre of excellence for pharmaceutical manufacturing and this will be achieved by further investing in infrastructure to obtain export accreditations such as UK MHRA, Australian TGA and US FDA
Innovation
To partner with multinational companies to ensure the use of state-of-the-art manufacturing
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technologies to launch the latest products.
Vision
Apex Parma’s vision is to become one of the top 10 pharmaceutical manufacturers in Bangladesh within the shortest possible time.
SWOT Analysis Strengths
In case of strengths Apex Pharma consider some point strongly. Those are; 1) Corporate Cultures 2) a top flight corporate management team with an unparalleled blend of
local and international pharmaceutical expertise 3) Quality Product 4) Nice & Compliance Factory
5) Strong Marketing Team.
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Weaknesses
As our research we found that Apex don’t like consider any point as their problem but they thing that their some point which they should develop for their better future. This are; (01) In product development side, (02) Marketing strategy, (03) Doctor Coverage activities, (04) Export, (05) Institutional sales.
Opportunities
1. Alliance with Sanofi-Aventis for Marketing of their 5 products, 2. Huge domestic market, 3. Apex pharma Forms a Clinical Alliance for Bioequivalence Study with ICDDR, B. Apex Pharma Ltd. 4. Creates history in the Bangladesh pharma industry by introducing the first-ever team of professional graduate pharmacists as “Medico-Marketing Executives” 5. Modern Factory
Threats
1. Turmoil Market situation, 2. Bad practices in Doctor Fronts, 3. Unethical activities in the marketing work flow.
Competitor Analysis
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Major Competitor
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Market Share
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Their Strengths
Marketing Mix 11
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Product Apex providing medicine Approx.: 50+ dieses medicine.
Apex Pharma maintaining the international standard of medicine, they have comple compliance factory and the setup cost of the factory is 110 corers.
Point of different of Apex Pharma
Using raw material from authentic sources, Clinical Alliance for Bioequivalence Study with ICDDR, B, Alliance with Multinational Companies for marketing of their product, International alliances.
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Price
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Place
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Apex pharma has their own Ware House & Central Distribution Center (CDC) to distribute the medicine to their consumer. Moreover they have 20 depots in all over in Bangladesh. Apex has 18 covered van and 350 delivery man. So their own channels are being using to distribute the medicine up to consumer. They control this distribution process strongly to avoid the error.
Ware House (Plant)
Central Distributi on Center (CDC)
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Depot s
Delive ry Man 15
Medici ne Center
Consum er
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Promotion Apex has their literature, Magazine, Doctor Information cell, Pad, Pen various gift items, sample and they provide this for their promotion. Their main focus of promotion is Doctor Information cell. They try to convince the doctor by representative (MR) to write up their medicine.
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Success Factor Apex considers some point for their success factor. They b elieve that this factor may help take place in top five within a short time. There strong marketing team working so hard to increase their sales and make sure the success.
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Reasons of Success Strong Marketing Team. Quality Product A top flight corporate management team with an unparalleled blend of local and
international pharmaceutical expertise
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USP (Unique Selling Proposition) Unique Selling Proposition (USP) of Apex Pharma is; Executive-“Medico Medicine (EMM) - new concept to use Pharmacist in the promotional activities in the doctor front” as their consideration.
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Observation For our research we visit Apex Pharma’s corporate office. In this term paper in found that Apex has a strong working team, who are still working so hard to the best. They work to fulfill their mission strongly. And the corporate culture of Apex pharma is much better. They try to best use their strengths and opportunity. They also work so hard to overcome the weaknesses of them. In our personal we hope that Apex Pharma will be going to take place in top five Pharmaceuticals Company in our country.
Recommendation
Conclusion
Reference 1) Principles of Marketing, 2)
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