Enterprise of the Year

Acme Laboratories reaches acme

Sarwar A Chowdhury

As foreign medicine markets beckon Bangladesh following the agreement on trade-related aspects of intellectual property rights (TRIPS), local pharmaceutical companies promise to make a foray into the global drug industry with the seal of 'Made in Bangladesh'. With a wide portfolio of pharmaceutical products across the therapeutic spectrum for both human and animal health, Bangladesh's oldest and renowned pharmaceutical company Acme Laboratories Ltd is ready to take the challenge.

The history of Acme Laboratories dates back to 1954, when a proprietorship firm was founded at Chashara in Narayanganj on a three-bigha land with around 33 people to manufacture drugs. It started with the modest introduction of a few oral liquid products. Late Hamidur Rahman Sinha was the founder of the firm. He was also the main visionary of the pharmaceutical company until his demise in 1994. His mission was to provide the general public with drugs at affordable prices. His legacy is carried on today by his sons and grandchildren.

As the firm was converted into a private limited company in 1976, it relocated its plant to Dhamrai in Savar on a land of 16 acres. Commercial operations at the modern plant began at the end of 1983.

Although the company started off with human pharmaceutical products only, over the time it has diversified into herbal and animal health products. The Acme now produces medicines like tablets, capsules, powder for suspension, injectable products, dry powder inhaler, metered dosage inhaler, suppositories, cream ointment, eye and nasal drops, bolus and oral solution.

Today, Acme's turnover stands at Tk 3.14 billion with a product portfolio of 352 items and more than 3,600 employees.

Around 98 percent of the products of the company are marketed through 18 distribution centres across the country. And the success of Acme in the domestic market prompted it to explore the international market as well. In 1995, it started its first journey to international market by exporting medicines to Bhutan. Since then, it has been expanding.

At present, Acme is exporting medicines to Afghanistan, Bhutan, East Timor, Hong Kong, Myanmar, Nepal, Pakistan, Papua New Guinea, the Philippines, Sri Lanka, Vietnam and Kenya maintaining a philosophy to ensure 'Health, Vigour and Happiness' for the mankind. Among the medicines exported, antibiotic, antihypertensive, antiulcerant and vitamin are remarkable. In 2006 alone, Acme's export earnings from pharmaceuticals stood at US$ 600,000.

Now Acme puts its efforts to make its international presence in a bigger way. The international marketing section of the company is working on tapping new markets in Ethiopia, Sudan, Ghana, Yemen, Macao, Cambodia, CIS countries and Central American countries.

"The future promises greater prospects for the international marketing of Acme. Being a least developed country, Bangladesh will enjoy waiver from patent protection until 2016 as per the World Trade Organisation deal on TRIPS. This has created immense opportunities for Bangladeshi companies to export pharmaceuticals especially to the LDCs. Acme, being aware of the opportunity, is relentlessly trying to bolster its international presence," explained Mizanur Rahman Sinha, managing director of Acme Laboratories.

The Acme continuously seeks to expand its production facilities, add employees and increase its sales and marketing efforts. "We are optimistic about our continued growth and success. Over the years our high achievement drive, our hard working and competent staff and confidence in our quality products have contributed to our growth. We have clear goals and we continuously strive to reach our goal of being the best in our field, which, indeed is what Acme literally stands for," the company's managing director said.

The company also goes through constant innovation in order to hold its position in the competitive pharmaceutical industry of Bangladesh. Acme has a qualified and experienced team of chemists and engineers who work continuously to develop more efficient processes and renovate the old ones. Research is also done to packaging, as better packaging materials keep the pharmaceuticals better for longer periods.

The Acme also places high importance on keeping up good corporate social responsibility (CSR) practices. The social welfare organisation named 'Hamidur Rahman Foundation' is funded by Acme. Its Chairman Nasir ur Rahman Sinha is actively involved with development activities providing services and training to the disabled poor people. Acme has also founded schools and colleges in Munshiganj. The Acme group is a regular contributor to cricket and hockey in both national and club levels.

Always a forward-looking organisation, Acme's young third-generation directors are the force behind its journey towards becoming a major player in the international pharmaceuticals market.