for the launch of “OSAMAX ”
Current market situation
Nepalese Pharmaceutical market and its marketing practices is complex to understand. With no such specific guidelines and policies from its regulatory body DDA, Nepalese pharmaceuticals feel the gap for visionary support from government. Though the country is self reliant in various categories the chunk of market share is still being enjoyed by foreign and Indian companies due to the lack of specific guidelines. Nepal pharmaceutical Laboratory is going to introduce its new product in the market where its competitors already exists. Osamax competing brands are : RESTOFOS – Sun Pharmaceuticals – Indian company
OSTEOFOS – Cipla Pharmaceuticals – Indian company
FOSSIL – Magnus Pharmaceuticals – Nepali company
Since it is difficult to adopt differentiation strategy in pharmaceutical products in terms of product and its features, NPL has to work on other aspects to add value to the product and gain competitive advantage over competitors’ product. Market description
Currently total market size of pharmaceutical product is 12 billion and the share of Nepali companies in the market is 35 % with 45 manufactures operating and (5– 18) in the pipeline. With an annual growth rate of 19 %, this sector is one of the fastest growing industries. This sector is contributing around 12 billion to nation’s economy of which domestic industry accounts for approximately 4 billion. This sector has become strong and stable in various aspects . Report of 2006: The study shows the consumption of allopathic drugs in the fiscal year 2061/62 (2004/05) has been Rs. 10659 millions. The annual increment of allopathic drugs consumption has been 16.1%..
Quantification of drug, RDL/DDA
Total consumption and annual increment of allopathic drugs
Year | Drug consumption | % Growth |
1999/2000| 5907.00| 25 %|
2000/2005| 10659.00| 32 % |
Quantification of drug, RDL/DDA
From the data 2000 to 2005:
* The drug consumption has been increased by 80 %
* The domestic industries share has been increased by 25 %
Pharma industries have been a powerful and dynamic industry in past 10 years growing when other industries have taken down turns. From the market trend of past few years we can see that market share of domestic industries is increasing in terms of sale and replacing Indian and some Multinational Companies (MNCs). This reflects a wide scope of growth and development of the local pharmaceutical industry in Nepal.
Moreover the increasing awareness among general public regarding health, diseases and the domestic production will certainly help this sector to grow faster.
NPL is second largest Pharmaceutical Company of Nepal comparing its annual turnover. It governs the 12% of the total domestic pharmaceutical market with the total annual turnover of 500 million rupees. It is growing with the approximate rate of 20 % annually. Annual growth rate of company
NPL is a pharmaceutical company which was registered in department of industry His Majesty’s Government (HMG) on 27th Jestha 2042 and had started its operation from 28th Poush 2043. Its plant is located in Jeetpur, Birgunj and it has its marketing office in Pulchowk, Kathmandu. With its motto “Quality in the service of millions”, in a short span of 26 years it has carved out a significant position in the Nepalese pharmaceutical industry. NPL has a team of competent management and technical professionals and a group of dedicated members at all levels who have been working together as a highly motivated team to create an outstanding record of success and growth in the Nepalese pharmaceutical industry. It’s a World Health Organization (WHO) – Good Manufacturing Practice (GMP) certified company that has a separate Research and Development(R & D) department, production department, quality control (QC) department, quality assurance department, market planning...