Square Pharmaceuticals Limited Mission Essay Example

of the country, which currently stood at about 140 million. To put this number on a proper perspective, the total global pharmaceutical sale in 2004 was $430 billion. This is expected to grow at 8. 1% to about $530 billion in 2005. However today, the pharmaceutical companies in Bangladesh are one of the fastest growing sectors in the nation.

Prior to post-liberation, the Multinational companies used to dominate the market but today this situation has been completely reversed. Now approximately 80% of the domestic pharmaceutical need is met by the local companies. In 2010, the total size of the pharma market of Bangladesh was estimated to be USD 100bn with an annual growth rate of about 24. 58%, which has the highest annual growth in the world. With high growth rates and increasing demand for products both locally and overseas Bangladesh’s Pharmaceutical Industry is now heading towards self-sufficiency.

Eventually pharmaceutical industry got an occasion to post a growth above 20% in 2010.  Brief Company History S quare Pharmaceuticals Limited, one of the parts of Square Group, the main flagship of this particular group of companies, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player. The company was founded in 1958 by Samson H. Chowdhury along with three of his friends as a private firm.

It went public in 1991 and is currently listed on the Dhaka Stock Exchange. Square Pharmaceuticals Ltd. the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and it has been continuously in the

first position among all national and multinational companies since 1985. Square Pharmaceuticals Ltd. is now on its way to becoming a high performance global player. They named the company ‘SQUARE’ because it was started by four friends and also because it signifies accuracy and perfection meaning quality" as they committed in manufacturing quality products.

Now, that small company of 1958 is a publicly listed diversified group of companies employing more than 28,000 people. The current yearly group turnover is 616 million USD. In the modern competitive market, SQUARE today is a name not only known in the Pharmaceutical world, but also known as a symbol of quality- based consumer product. All these were possible due to the innovative ideas, tireless efforts, perseverance and dedication with self-confidence of its management and workforce, which contributed to their successful achievements. Under a dynamic leadership, SQUARE is set to continue its progress globally.