Bus 101

Incepta Pharmaceuticals: Background of the company

1

Human side of the business

Production and Marketing

Accounting and Finance

Business Environment

Prepared by

ID Name9304002 Shabnam Shaolin9304014 Shejoty Mahbub9304138 Md. Sohrab Hossain9304124 Md. Imran Hossain9304104 Omar Faruk9304083 Md. Farhad

Prepared for

Sharmin Shabnam Rahman

Faculty of Business studies

Department of BRAC Business School (BBS)

BRAC University

Dated: 5 August, 2009

5 August, 2009

2

Sharmin Shabnam Rahman

Faculty of Business Studies

Department of BRAC Business School (BBS)

BRAC University

Dear Madam,

Sub: Submission of report for completion of course

This is to inform you that we have completed the report on our current organization, Incepta Pharmaceuticals. The report focuses on the background of the company, human side of the business, production and marketing, accounting and finance, business environment. The report, titled Incepta Pharmaceuticals has been prepared for the completion of the course Business Introduction.

In writing this case, we have followed your instructions for report writing so

as to present our views and understanding in the easiest way. However, we

will be glad to clarify any discrepancy that may arise.

Thank you.

Sincerely,

Acknowledgements

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ID Name9304002 Shabnam Shaolin9304014 Shejoty Mahbub9304138 Md. Sohrab Hossain9304124 Md. Imran Hossain9304104 Omar Faruk9304083 Md. Farhad

We would like to thank Mr. Asad Uzzaman, Area manager of Incepta

Pharmaceuticals for giving us the opportunity to work with the organization and also

for giving us the privilege to explore the report in writing.

We also want to give thanks to those members of the main branch of Incepta

Pharmaceuticals who help us to completing the report.

Finally, we give thank to our family members, friends for their support and

encouragement. Without their support and encouragement it was not possible to

complete the report.

Executive Summary

This report details about a leading Pharmaceutical company of Bangladesh named

Incepta Pharmaceuticals. The report outlines the background of the company,

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human side of the business, production and marketing, accounting and finance,

business environment.

Incepta Pharmaceuticals is one of the renowned company in Bangladesh. It starts it

work from1999 and till the company is in the leading position. The company has a

clear vision and its mission is to fulfil their vision. The company has level of

management and these different level managers work together to improve the

present condition of the company. Incepta produces various kinds of medicines and

now the company is exporting medicines to 26 countries. Incepta also maintain

their social responsibilities for the betterment of Bangladesh.

Table of Contents

Page No.

1. Background Of The Company1.1 Introduction 91.2 General Objective 11

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1.3 Specific Goals 111.4 Scope 121.5 Methodology 121.6 Restrictions and limitations 121.7 Ethics

2. Human side of the business

2.1 Management 13

2.2 Level of management 13

2.3 Organizational structure 14

2.4 Leadership style 15

2.5 Training program 15

3. Products and marketing

3.1 Products of Incepta 16

3.2 List of products 17

3.3 Brief description of some products 21

3.4 Production facilities 27

3.5 Equipment facilities for R&D 28

3.6 Pricing and promotion 28

4. Accounting and finance 29

5. Business environment

5.1 Air pollution 33

5.2 Water pollution 34

5.3 Not to mix up forbidden materials in medicine 35

5.4 Not to sale expired products 35

5.5 Social corporate responsibility 35

6. Conclusion 37

7. Recommendation 38

8. Glossary 39

Table of Illustrations

Page No.

Fig 1 : Head office of Incepta 10

Table 1 : Medicine list of Incepta 17

Fig 2 : Picture of medicine (Actidex) 21

Fig 3: Picture of medicine (Celenta) 24

Fig 4:Prize giving ceremony 30

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Fig 5: Prize giving ceremony (1) 31

Table 2: Profit and loss account of Incepta 32

Fig 6: Air pollution 33

Fig 7: Water pollution 34

List of Abbreviations

R&D: Research and Development

CSR: Corporate Social Responsibility

VAT: Value Added Tax

SOP: Standard operating Procedures

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Chapter One

Background of the company

As partial fulfillment of the course Introduction to Business BUS (101), our course

instructor Miss Sharmin Shabnam Rahman had instructed us to write a report on

any aspect of any organization. The report, assigned in 6 July 2009, is due on 5

August 2009.

1.1 Introduction

Incepta Pharmaceuticals Ltd is a leading pharmaceutical company in Bangladesh

established in the year in 1999. The company has a very big manufacturing facility

locating at Savar, 35 kilometer away from the centre of the capital city Dhaka. The

company produces various types of dosage forms which include tablets, capsules,

oral liquids, ampoules, dry powder vials; powder for suspension, nasal sprays etc.

Since its inception, Incepta has been launching new and innovative products in

order to fulfill unmet demand of the medical community. The focus was to bring

more new technologically advanced molecules to this country.

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Incepta quickly developed a very competent sales team, which promotes the

specialties throughout the country. The company virtually covers every single

corner of the rural as well as urban area of Bangladesh. It has its own large

distribution network having 13 depots all over the country. The company has a clear

vision to become a leading research based dosage from manufacturing company

with global presence within a short period of time.

Incepta began its operation with a handful of highly skilled and dedicated

professionals guided by an able leadership. Proper strategic planning, technical

excellence, swift and timely decisions helped them achieve their objectives leading

to much faster growth. A most dynamic skilled and dedicated marketing team

comprising of pharmacists and doctors are at the core of the marketing operation.

These highly skilled professionals play a crucial role in providing the necessary

strategic guideline for the promotion of its products.

The Researchers and Development department for various dosage forms have been

very well developed. Incepta intends to bring new product of advanced technology

through research hitherto unknown in this country. Such activities will not only

benefit the company but also the total pharmaceutical sector of the company. In the

post 2005 era, the company also intends to embark into the production of Active

Pharmaceuticals Ingredient (API). Plans are underway to get into reverse

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engineering and analogue research in order to produce new API. Incepta has a clear

vision and the vision is to become a researcher based global pharmaceuticals

company in addition to being a highly efficient generic manufacture. To discover

and develop innovative, value-added products that improves the quality of life of

people around the world and significantly contributes towards the growth of

Bangladesh.

The mission of Incepta Pharmaceuticals is to provide people globally with high

quality health care products at affordable price in order to improve access to

medicine and to provide employees an enabling environment that facilities

realization of their full potential.

1.2 General objective

The general objective of the report is to describe about the background of the

company, human side of the business, production and marketing, accounting and

finance and the business environment of the company.

1.3 Specific goals

The specific goals of this report is to provide a short background of Incepta

Pharmaceuticals, provide a basic understanding about their working system, their

mission and vision and also provide some data about their products.

1.4 Scope

The focus of this report is on Incepta Pharmaceuticals. Only this particular company

has been studied in this report. Other Pharmaceuticals company which are situated

in Bangladesh are not included in this report.

1.5 Methodology

Data collection for the report has employed both primary and secondary sources.

The sources are given below:

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Primary sources

Interview with the area manager of Incepta Pharmaceuticals

A book from Incepta Pharmaceuticals

Secondary Source

www.inceptapharma.com

[email protected]

[email protected]

1.6 Restrictions and limitations

Being a Business Introduction course the focus of this report is on only some

department’s works of the organization. But the description of each and every

machineries or products is excluded. As we are student we have time limitation to

work for the report. We have also knowledge limitation about the company.

1.7 Ethics

The ethical guidelines in completing this report include transparency and honesty in

carrying out the study, timely data collection and compilation to finish the work

within the deadline.

Chapter Two

Human side of the business

The people of Incepta Pharmaceuticals are the assets of their organization. They are

fundamental to the achievement of their long-term business strategy. The success

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of Incepta over the years has been due, in large part, to the dedication, skill and

effort of their employees.

2.1 Management

The Management is headed by the Managing Director, the Chief Executive Officer

(CEO) who has been delegated necessary and adequate authority by the Board of

Directors. The Management operates through further delegations of authority at

every echelon of the line management. The Management is responsible for

preparation of segment plans/sub-segment plans for every profit centers with

budgetary targets for every item of goods & services and is held accountable for

deficiencies with appreciation for exceptional performance. These operations are

carried out by the Management through series of committees, sub-committees, ad-

hock committees, standing committees assisting the line management.

2.2 Level of management

Like other organization Incepta has a level of management. In Incepta we found

three types of managers in the level of management. These are: Top level

managers, Middle level managers and First level managers.

The Top-level managers of incepta are: Chief Executive Officer (CEO), Chief

Financial Officer (CFO), Chief Operational Officer (COO), Chief Information Officer

(CIO), and Chairperson of the Board, President, Vice president, and corporate head.

The Middle level managers of Incepta are: General Manager, Plant manager,

Regional manager, and Divisional manager. They are responsible for carrying out

the goals set by top level management. They do so by setting goals for their

departments and other business units. Middle level managers are motivating and

assisting the First level managers to achieve business objectives. Middle level

managers also communicate upward, by offering suggestions and feedback to Top

level managers. Because Middle level managers are more involved in the day-to-

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day workings of a company, they are providing valuable information to the Top level

managers to help improve the organization's bottom line.

The First level managers of Incepta are: Office manager, Shift supervisor,

Department manager, Foreperson, Crew leader, Store manager. First level

managers are responsible for the daily management of line workers- the employees

who actually produce the product or offer the service. First level managers typically

do not set goals for the organization; they have a very strong influence on the

company. These are the managers that most employees interact with on a daily

basis, and if the managers perform poorly, employees may also perform poorly,

may lack motivation, or may leave the company.

2.3 Organizational structure

Incepta Pharmaceuticals in Bangladesh headquartered at Shantinagar, Dhaka. The

organization also has some branches in Dhaka, while the full services are available

at the head office. The organizational structure of the organization is given below:

Service Quality

Risk and Control

Service Delivery

Human Resources Department

Operations

Legal and Compliance

Finance and Administration

Corporate & External Affairs

2.4 Leadership style

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In Incepta we found the leadership style is autocratic leadership. In this kind of

leadership the Top level manager plans and makes necessary decisions themselves

and provides detailed instruction to the other members of the organization.

2.5 Training programs

Like other organization Incepta also invests in training and development program to

perform the best of their ability and to develop their careers. They provide job-

related training course for all employees and leadership training for managers.

Medical promotion officers receive detailed training on medicines they promote and

the diseases they are designed to treat. They are given training also on appropriate

marketing practices. Regular refresher courses are held for all sales employees at

least annually. GMP training for factory employees is defined in the specific SOP.

The training needs depend on the functions of the employees. Re-training needs are

identified by realizing inadequate performance on the job, by performance

evaluation. Marketing training programs on brand management, marketing skill

development is conducted by in house personnel and by local training organization.

To ensure marketing and management excellence every year their sales and

marketing employees attend some training programs on Pharmaceuticals marketing

in overseas countries by IMS, Bangladesh.

Chapter Three

Production and marketing

Production and marketing is must for all organization. Producing new products and

sell it to the market is a fundamental work for all organization. Like other

pharmaceuticals company Incepta also has some products and they also have

marketing strategy.

3.1 Products of Incepta Pharmaceuticals14

This company produces medicine in three categories:

Therapeutic Group wise Product list Generic Name wise Product list Trade Name wise Product list

GENERAL PRODUCTS

LIQUID STERILE (Terminally sterilized and aseptically filled ampoule)

SOLID DOSAGE (Capsules, Tablets, Powder)

ORAL LIQUIDS

TOPICAL CREAMS AND OINTMENT

NASAL SPRAY

CEPHALOSPORIN

STERILE POWDER (Aseptically filled vials)

SOLID DOSAGE (Capsules, Tablets, Powder )

3.2 List of products

Analgesic and Anti Inflammatory

Anti Anginal Anti Arrhythmic

ActidexCelentaCortanEdopainEtoracIntafenacIntaflamNalbunNeforex

AngifixFeelnorTrocer

Norbit

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OricoxPurifenReservixResetReset PlusSalinixTicoflexTopicacinWakoflexWinpain

Anti Coagulant Anti Depressent Anti Epileptic

ParinoxWarin

AmelossArpolaxDuloxenReposeTenaxit

BarbitCarmapineGabapenOxazepPregabenValex

Anti Flatulent Anti Platelet Anti Spasmodic

Lefoam LopirelLopirel Plus

CyclopanDrotapanIribanTimozin

Anti Ulcerant Antibacterial Antidiabetic

CytomisEsonixMarloxNeofastOmenixPantonixRasonix

AdoraBeufloxCefotimeClindacinClindacin creamEcloxEfdinirEmixefExephinFirmacFlamydGatifloxI PenamIncloxIncotimIntamycinIpadox

CompimetConsuconLosuconMefoglipNobesitNomopilPiodar

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KilbacLevoxinNintoinNitazoxOticlorPedilidProcefSidobacTetrafastTinobacTridosilUltrapimeVanmycinXimeprox

Antiemetic Antifungal Antihistamine

EmenilEmenil PlusOnaseron

Nispore AlervilEncilorFenofexKetomarNeocilorSeasonixSudolorSudorin

Antihypertensive Antimigraine Antipsychotic

AmlosartanAmlotabBenadipCarvistaFixocardIdatixIndaprilLarcadipLitizemOsartilOsartil PlusPeriprilPresonilRamorilRamoril PlusSardopaValsartil

TopirvaZomitan

AripraCyclidFreniaHalopidQuietRopinol

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Veracal

Antivertigo Anxiolytic and Tranquilliser Bio tech

Menaril DisopanHypnofastLozicumNatsinSiestaZoliumZopilone

EpoetinMaxsulin

Diuretic Drugs for Neuropathy Neuralgia

Fertility & Ovulation Stimulant

AcurenDilastEdeloss and Edeloss Plus

Gynaecological Hepatitis B Medication Herpes Labialis

AloxifLozanaOvuclonUbilon

BarcavirCelbarinLamivirlnfovir

Hormones Irritable Bowel Syndrome Laxative

Doresa AqualaxInolac

Lipid Lowering Mucolytic Expectorant Muscle Relaxant

AdiponilEzetimNicositNofiateTiginorVastocor

AmbolytAquaphenMucolytSudocofTomephen

Somolax

Musculoskeletal Nasal Decongestant Non-narcotic Analgesic

AlurolBonemass DFlexorHyronateJoinix

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Joinix PlusMyolaxMyolax PlusNodiaReconil

NSAIDs Nutrient Supplements Ophthalmic

AlneedAlneed plusAritone ZAritone ZICalcicarCalvimaxCavic C PlusCavic-CCeegramCompironEvagrenInj. K MMInovit EMecolaginOcarnixOsteo DPrecarePreneedProsol IVProviten A-ZProviten SilverVitabionVitagrowZiflu

AzecolDexagurdDextrobacDilateDNP Eye dropEyebetGatiflox Eye DropI guardIntobacLomequin Eye DropLopadineLubricMastguardMetadaxanMirolastMoxquinTimopress

Other Prokinetic-Antiemetic Respiratory

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3.3 Brief description of some products

Actidex

Dexketoprofen

Presentation

Actidex : Each tablet contains Dexketoprofen Trometamol equivalent to

Dexketoprofen INN 25 mg.

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Description

Dexketoprofen belongs to a class of medicines called non-steroidal anti-

inflammatory drugs (NSAIDs). It works by blocking the action of a substance in the

body called cyclo-oxygenase. Cyclo-oxygenase is involved in the production of

chemicals in the body called prostaglandins. Prostaglandins are produced in

response to injury or certain diseases and would otherwise go on to cause swelling,

inflammation and pain. By blocking cyclo-oxygenase, dexketoprofen prevents the

production of prostaglandins and therefore reduces inflammation and pain.

Indications and Uses

Symptomatic treatment of pain of mild or moderate intensity, such as musculo-

skeletal pain, menstrual pain, toothache.

Contraindications

Dexketoprofen tablets are not recommended to use in patients who are-

Allergic to this product or any of its components, aspirin or other non-steroidal anti-

inflammatory medicines.

Have suffered attacks of asthma, bronchospasm, acute rhinitis, nasal polyps,

urticaria, angioedema (swollen face, eyes, lips, or tongue, or difficulty in breathing),

after taking aspirin or other non-steroidal anti-inflammatory medicines.

Have or have previously suffered from a peptic ulcer or chronic gastro-intestinal

disorders.

Have had previously gastro-intestinal haemorrhage (bleeding).

Have suffered from bronchial asthma.

Have severe heart failure, moderate to severe renal dysfunction or severely

impaired hepatic function.

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Have a bleeding disorder, a blood clotting disorder or taking an anticoagulant.

Pregnant or breast-feeding.

Dosage And Administration

The dose of Dexketoprofen is 12.5 mg every 4-6 hours daily or 25 mg every 8 hours

daily. The maximum dose is 75 mg daily. For elderly people maximum dose is 50

mg daily. Not recommended for children.

Precautions

The medicine should be used with caution in conditions mentioned below

Allergic to any other medicines.

Kidney disease, liver disease, heart disease or fluid retention conditions.

Blood disorder, systemic lupus erythematosus or mixed connective tissue disease.

Side Effects

As with all medicines, Dexketoprofen may cause some unwanted effects in some

patients. These are described below and are characteristic of non steroidal anti-

inflammatory drugs:

Common (1 - 10%): nausea, vomiting, diarrhoea, stomach pain or heartburn.

Uncommon (0.1 - 1%): sleep disorders, nervousness, headache, dizziness,vertigo,

palpitations, constipation, dry mouth, flatulence, skin rash, fatigue, hot flushes,

shivering, general malaise.

Rare (0.01-0.1%): stomach ulceration, gastric haemorrhage or perforation, pins and

needles, high blood pressure, water retention, slowed breathing rate, increased

hepatic enzymes, increased sweating.

Very rare / isolated cases (<0.01%): blurred vision, ringing in the ear, low blood

pressure, haematological reactions, hepatic or renal damage, dermatological and

photosensitivity reactions, bronchospasm or anaphylaxis.

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In patients with systemic lupus erythematosus or mixed connective tissue disease,

anti-inflammatory medicines may rarely cause isolated cases of fever, headache

and rigidity of the nape (back of the neck).

Use in pregnancy & lactation

Do not use during pregnancy or breast-feeding.

Use in children

Should not be given to children.

Commercial Pack

Actidex : Each box contains 5 blister strips of 10 Tablets.;

Celenta

Celecoxib 100 & 200 mg capsule

Presentation

Celenta 100 : Each capsule contains Celecoxib INN 100 mg.

Celenta 200 : Each capsule contains Celecoxib INN 200 mg.

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Description

Celenta is a non-steroidal anti-inflammatory agent (specific COX-2 inhibitor) having

marked anti-inflammatory, analgesic and antipyretic activities with lower incidence

of gastrointestinal adverse effects.

Indications and Uses

Celenta capsule is indicated for the relief of pain and inflammation of osteoarthritis

and adult rheumatoid arthritis. Celenta is also indicated to reduce the number of

adenomatous colorectal polyps in familial adenomatous polyposis (FAP); as an

adjunct to usual care (e.g. endoscopic surveillance, surgery).

Contraindications

Celecoxib is contraindicated in patients with known hypersensitivity to Celecoxib,

who have demonstrated allergic type reactions to sulfonamide or who have

experienced asthma, urticaria or allergic type reactions after taking aspirin or other

NSAIDs.

Dosage And Administration

For osteoarthritis and rheumatoid arthritis, the lowest dose of Celenta should be

sought for each patient. These doses can be given without regard to timing of

meals.

Osteoarthritis: For relief of the signs and symptoms of osteoarthritis the

recommended oral dose is 200 mg per day as a single dose or as 100 mg twice

daily. Rheumatoid arthritis: For relief of the signs and symptoms of rheumatoid

arthiritis the recommended oral dose is 100-200 mg twice daily. Familial

adenomatous polyposis: Usual medical care for FAP patients should be continued

while on Celenta capsules. To reduce the number of adenomatous colorectal polyps

in patients with FAP, the recommended oral dose is 400 mg twice daily to be taken

with food. Hepatic insufficiency: The daily recommended dose of Celenta capsules

in patients with moderate hepatic impairment should be reduced approximately by

50%.

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Precautions

Celecoxib cannot be expected to substitute for corticosteroids or to treat

corticosteroid insufficiency. Patients on prolonged corticosteroid therapy should

have their therapy tapered slowly if a decision is made to discontinue

corticosteroids. Celecoxib should be prescribed with extreme caution in patients

with a prior history of G.I. ulcer-disease or G.I. bleeding, hepatic and renal

insufficiency, heart failure, those taking diuretics and ACE inhibitors, pre-existing

asthma, elderly patients.

Side Effects

Gastrointestinal side effects include abdominal pain, diarrhea, dyspepsia, flatulence

and nausea. Central nervous system side effects include dizziness, headache and

insomnia. Other side effects include upper respiratory tract infection, skin rash,

back pain and peripheral edema.

Use in pregnancy & lactation

Celecoxib should be used during pregnancy only if the potential benefit justifies the

potential risk to fetus. But in late pregnancy Celecoxib should be avoided because it

may cause premature closure of ductus arteriosus. It is not known whether

Celecoxib is excreted in human milk. Because many drugs are excreted in human

milk and because of potential for serious adverse reactions in nursing infants from

Celecoxib, a decision should be made whether to discontinue nursing or to

discontinue the drug, taking into account the importance of the drug to the mother.

Overdosage

Patients should be managed by symptomatic and supportive care following an

NSAID overdose. There are no specific antidotes. No information is available

regarding the removal of Celecoxib by hemodialysis but based on its high degree of

plasma protein binding (>97%) dialysis is unlikely to be useful in overdose. Emesis

and/or activated charcoal and/or osmotic cathartic may be indicated in patients

seen within 4 hours of ingestion with symptoms or following a large overdose.

Forced diuresis, alkalinization of urine, hemodialysis or hemoperfusion may not be

useful due to high protein binding.

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Commercial Pack

Celenta 100 : Box containing 5 blister strips of 10 capsules.

Celenta 200 : Box containing 4 blister strips of 10 capsules.;

3.4 Production facilities

The production site comprises of six different multi-storied buildings, which provide

areas for the production of pharmaceutical products. Cephalosporin and general

products are manufactured in those buildings, Cephalosporin facility is physically

separated from other areas.

Manufacturing and packaging operations are carried out according to the

validated methods through systematically qualified machines with full

documentation at all stages of operations. The production sites follow the

cGMP guidelines for environmental requirements of the manufacturing and

packaging area, as well as comply with the EHS requirements. Highly

sophisticated HVAC systems are used to condition, monitor and supply

clean air to the working zone according to the manufacturing zone concept,

capture and control any dust, vapor, gas or fume generated, as well as

treatment of re circulated and/or exhausted air. Temperature and moisture

level are maintained at the desired level through this system.

3.5 Equipment facilities for R & D

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Incepta has a separate galenical laboratory for R & D, equipped with all necessary

machineries & equipments of GMP standard. Analytical development is supported

by their Quality Control Department. Quality Control Department is equipped with

highly sophisticated instruments like HPLC, Gas Chromatography, Atomic absorption

spectrophotometer, FTIR, etc. A dedicated team is involved in the development and

validation of methods of API, raw materials & finished products. Their R & D team

has pioneered the technology development and subsequent introduction of 53 new

products for the first time in Bangladesh market (up to June 2004). Following are a

few of this long list of

Losartan Potassium tablet

Pantoprazole Sodium delayed release tablet

Loratadine melt in the mouth (Flash) tablet

Verapamil hydrochloride SR tablet

Calcium with Vitamin C effervescent tablet

Multivitamin with multi-mineral tablet which contains 32 Vitamins &

minerals.

3.6 Pricing and promotion

For pricing and promotion Incepta always try to be ahead from their competitors.

The organization always thinks that if they take less money for their medicines then

they will be able to stay in market in a demanding position.

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Chapter Four

Accounting and finance

Owners of the company have invested a bulk amount of money at the starting of

the company which is used to be capital.

Incepta Pharmaceuticals Ltd., one of the leading pharmaceuticals companies in

Bangladesh has recently availed long-term financing of USD 12.5 million from the

German development finance institution. Citibank, N.A. Bangladesh played the role

of Arranger in the transaction.

Issuing share is one the major ways for being financed of this company. Two times

in the year Incepta sells their shares in the market. Many shareholders are got

interested to get a satisfaction amount of share.

So far arranging money has not been a problem for this company.

Success

In accordance with the financial support they made a glorious performance in the

medicine industry. For instance they got European GMP (Good Manufacturing

Practice) award. It will create a new era in exporting pharmaceutical products.

The pharmaceutical industry has created tremendous potentiality to earn foreign

currency. He assured all the possible assistances from the Government to add

muscle in this particular sector.

The program started with the welcome speech of Mr. Abdul Muktadir, Managing

Director of Incepta Pharmaceuticals Ltd. Besides Mr. Charles Whitley, Charge D’

Affairs of European Commission, Brig. Gen. Sarker M A Matin, Director, Directorate

of Drug Administration, Mr. S M Shafiuzzaman, President, Bangladesh Association of

Pharmaceuticals Industries, Austrian pharmaceutical marketing specialist Mr. Joerg

Kloppert also delivered their speech.28

The Incepta has earned remarkable goodwill both home and abroad in

manufacturing high quality medicine. On this succession the achievement of this

GMP certificate from European Commission has created new possibilities. The

respect and position of local pharmaceutical industry will enhance to a great extent

internationally by this achievement and the scope of exporting will be higher than

ever before.

To mention, by exporting in 19 countries, Incepta is not only bringing fame for the

country, but also contributing remarkably in the development of national economy

by earning foreign remittance. Incepta Pharmaceuticals Ltd. received accreditation

with the European GMP certification on 11th January this year which will allow the

company to export in all the countries of European Union and this certification is

first ever for any local company. Incepta always try to contribute as much as they

can to keep the inflation rate in the satisfactory mood.

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Incepta Pharmaceuticals Ltd received the Enterprise of the Year 2004 Award while

Selina Quader received the award for Outstanding Woman in Business of the Year

2004. Two giant screens displayed their exemplary successes in brief. Receiving the

Enterprise of the Year 2004 Award on behalf of Incepta Pharmaceuticals Ltd, its

Managing Director Abdul Muktadir said his company is a research-based

pharmaceuticals company and has achieved unprecedented growth in the recent

years. Expressing her reaction to winning the Outstanding Woman in Business of

the Year 2004 Award, Agroconcern Proprietor Selina Quader said it was the first

recognition of her endeavors. She was sure the award would encourage more

women to enter the world of businesse Year 2004, said his company deals with

around 60,000 farmers of the country.

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Profit & loss account of Incepta Pharmaceutical for last two years

Details Dec 06 Dec 07

Sales Turnover 1,240.62 1,429.97

Excise Duty 101.34 122.09

Net Salessw 1,139.28 1,307.88

Other Income 24.55 31.67

Stock Adjustments 1.45 27.34

Total Income 1,165.28 1,366.89

Expenditure

Raw Materials 387.58 471.61

Power & Fuel Cost 29.93 30.44

Employee Cost 136.38 154.94

Other Manufacturing

Expenses

102.47 113.41

Selling and Admin Expenses 247.48 270.50

Miscellaneous Expenses 23.92 32.03

Total Expenses 927.76 1,072.93

Operating profit 212.97 262.2

PBDIT 237.52 293.96

Interest 3.53 4.61

PBDT 233.99 289.35

Depreciaqtion 42.71 43.49

Other Written Off 0.00 0.00

Profit Before Tax 191.28 245.86

Extra-ordinary items 0.03 0.02

Tax 191.31 245.88

Reported Net Profit 63.66 82.46

Total Value Addition 126.93 162.68

Preference dividend 540.17 601.32

Equity dividend 0.00 0.00

Corporate dividend tax 42.06 50.47

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Per share data (annualized)

Shares in issues (lakhs) 5.90 8.58

Earnings per share 420.56 420.56

Equity dividend % 30.18 38.68

Book value 3.53 4.61

Chapter Five

Business environment

Environment means the inter-relationship existing between water, air, soil and

physical property and their relationship with human beings, other animals, plants

and micro-organisms. To continue a business an organization has no right to pollute

the environment. There are various kinds of pollution. Such as: air pollution, water

pollution, noise pollution etc.

5.1 Air pollution

Air pollution occurs when the air contains gases, dust, fumes or odor in harmful

amounts. That is, amounts which could be harmful to the health or comfort of

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humans and animals or which could cause damage to plants and materials. The

substances that cause air pollution are called pollutants. Pollutants that are pumped

into our atmosphere and directly pollute the air are called primary pollutants.

Primary pollutant examples include carbon monoxide from industry exhausts and

sulfur dioxide from the combustion of coal.

Further pollution can arise if primary pollutants in the atmosphere undergo chemical

reactions. The resulting compounds are called secondary pollutants. Photochemical

smog is an example of this.

Incepta Pharmaceuticals always try to avoid the pollution when they make their

products. Incepta use those materials which is not harmful for air.

5.2 Water pollution

Water pollution is the contamination of water bodies such as lakes, rivers, oceans,

and groundwater caused by human activities, which can be harmful to organisms

and plants that live in these water bodies. It occurs when pollutants are discharged

directly into water bodies without treating it first.

To avoid water pollution Incepta never dump their wastage in to the lakes, rivers or

ponds.

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As Incepta is a medicine produced company, it has some ethical issues which it has

to maintain.

5.3 Not to mix up forbidden materials in medicine

Incepta cannot produce any medicine with the help of bad or rotten ingredients

because this may cause sufferings to the human being even it can cause death to

consumers. It will create a bad image of the company in the market. As a result

government will ban that particular product as well as my company. For this reason

Incepta always suggest their labour to purify the raw materials of the medicine at

every stage.

5.4 Not to sale expired products

As Incepta is a medicine producing company so they have no right to sell any kind

of expired medicine by which the consumers can suffer in a long run for their

health. If they take this kind of steps they will be punished by the law of Bangladesh

Government. By selling expired products the demand of customers will be

decreased. Incepta always remain concerned about this thought. Incepta dispose

the expired items before it reach to the customers.

5.5 Social corporate responsibility

Incepta achieved its tremendous commercial success through its honesty and

sincerity in business policies. The company aims to become nation’s most admired

company through their honest and intelligent approach to everything they do.

Company management strives to support this nation as far as possible in times of

need. Incepta believes it can survive commercially and grow if the nation remains

healthy. Incepta gives emphasis to its practice of CSR and evidence of this

commitment is found in its dealing with customers, suppliers, employees,

Government and the society at large.

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Company CSR activity includes its finance because the company pays tax and VAT

to the Government and also settles bank and suppliers liabilities in a timely fashion

and disburses benefits to employees on time. Incepta considers its employees to be

valuable assets and protects their rights and provides a full range of staff facilities

including life insurance and disbursement of 5% of the company profit to them.

Incepta maximizes safety in work place for its employees and child labour is strictly

prohibited.

As its commitment to society the company donates medicine to the Government

Relief Fund during natural disaster. Incepta also provides financial assistance for ex

pensive treatment including heart and cancer and disburses its corporate Zakat for

relief of distressed people every year.

Incepta also produces life-saving ‘import substitute medicines’ at affordable price

for the people of Bangladesh as an expression of a true love and compassion for the

people. All these activities are evidence of a socially responsible and caring

company.

Conclusion

Incepta is a fast growing Pharmaceutical company. Incepta develops, manufactures

and markets medicines to address the unmet medical needs of Bangladesh market.

Now Incepta has gone beyond the boundaries of Bangladesh. The company devotes

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extensive efforts to increase access to medicines through far reaching distribution

network that helps deliver them to the people even in most remote areas. Incepta

always try to providing access to safe, effective and affordable medicines and

related health care services to the people who need them. Incepta is managed and

lead by a dedicated and highly qualified team of doctors, pharmacists, accountants,

analytical chemist, engineer and strong sales force. As a company, Incepta seek to

maintain high ethical standards and culture that values honesty, integrity and

transparency in all levels.

Recommendations

After making the report we found a problem about Incepta Pharmaceuticals that,

the numbers of their branches in all over Bangladesh are too little. If Incepta will

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increase their branches in all over Bangladesh then it will be helpful to improve their

condition in business market.

Glossary

1. Branch: This is the specific outlet of Standard Chartered Bank that a person

visits to attain services such as cash/cheque deposit/withdrawal, account

opening/closing etc.

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2. Customers: These include both account and non-account holders of Standard

Chartered Bank who visit our branches to avail a specific service.

3. Zakat: This is an Islamic rule and under this rules almost every Muslim’s have to

give some money to the poor person which is basis on their main income.

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