The leading pharmaceutical companies saw 30 per cent growth in sales while smaller sales declined by 50 per cent for smaller firms as they are a lesser known brand, disruption in supply chain occurred during the pandemic and decreasing raw materials for production.
The sector as a whole saw increasing sales from Tk4,000 Crore to Tk27,000 Crore from May, 2020 to March, 2021 according to data published by IQVIA.
Industry insiders also stated that sales of prescription based medicines declined during the pandemic where people would only buy medicines from popular brands. Out of the total 269 pharmacies about 20 to 25 giant pharmaceutical companies reported record profit during the pandemic with 71 per cent medicines sold by top 10 giant pharmaceutical companies increasing from 69 per cent according to IQVIA.
From April 2020 to March 2021, Square Pharmaceuticals saw 23.35% business growth with sales worth of Tk4,715 Crore while Beximco Pharma outpaced Square’s growth by 28.06 per cent with less sales amounting to Tk2,467 Crore.
Healthcare Pharmaceuticals Ltd. (HPL) saw the highest growth with the least sales among the three giants with 30.37 per cent growth but Tk1,809 Crore sales.