Ratio Analysis & Valuation of Glaxo Smithkline Bangladesh Limited

Topics: Balance sheet, Generally Accepted Accounting Principles, Inventory Pages: 50 (14395 words) Published: August 26, 2013
Ratio Analysis & Valuation of Glaxo SmithKline Bangladesh Limited

Submitted To:
Suborna Barua Course Instructor School of Business, UIU

Submitted To:
Tanvir Ahmed Patwary ID: 111 092 142 Sec: B

Date of submission: 9th September, 2012

1 United International University

Overview of Pharmaceuticals Industry
The Pharmaceuticals Industry in Bangladesh is maintaining its momentum of strong double digit growth. In 2010, the market exceeded Taka 6 billion (US$ 900m) with a growth of about 15%. As in previous year, local companies lead the market place, occupying all top 10 positions in the market and leading the growth. The development of pharmaceuticals sector was accelerated after the promulgation of Drug Control Ordinance in 1982.The professional knowledge, thoughts and innovative ideas of the pharmaceutical professionals working in this sector are the major factors for these development. This pharmaceutical sector is also providing 97% of the total medicine requirement of the local market. At present some new industries have been established with high tech equipments and professionals that will enhance the strength of this sector.

Company Profile
Glaxo SmithKline(GSK) Bangladesh Limited carries with it an enviable image and reputation for the past 6 decades. A subsidiary of GlaxoSmithKline plc- one of the world’s leading research-based pharmaceutical and healthcare companies, GSK

Bangladesh is committed to its global mission of improving the quality of human life by enabling people to do more, feel better and live longer. In 1949 the Company commenced its journey in Bangladesh with its corporate identity as Glaxo in Chittagong as an importer of products from the Glaxo Group Companies. It started spreading its spectrum from being an importer to a manufacturer by establishing its own manufacturing unit at Chittagong in 1967. In line with mergers and acquisition the identity changed from Glaxo to Glaxo Welcome Bangladesh Limited following the Burroughs Welcome acquisition in 1995 and finally to Glaxo SmithKline(GSK) Bangladesh Limited during 2002 after merger with SmithKlineBeecham in December 2000.GSK Bangladesh has dominant positions in Asthma, Dermatology and Vaccines in Bangladesh. GSK consumer product like Horlicks, Maltova, Boost, and Viva are house names for Health food drinks in Bangladesh.

2 United International University

The IBN SINA Pharmaceutical was founded on 1983 in a campus of about 15 acres of land, about 56 km away from Dhaka city. The industry was established by the Trusted Board as a limited company. Then it was converted into a public company in 1989. Now IBN SINA TRUST owns 50% share of the industry and the public shares are rest 50%. Since the beginning IBN SINA was committed to provide high quality healthcare services in Bangladesh and within a very short period of time it achieved the target and fulfilled its commitment. The company is always devoted to ensure the high quality of medicines by implementing state of art technologies and modern machineries. The IBN SINA Pharmaceuticals Industry Ltd has become a reputed pharmaceuticals company in Bangladesh with a sufficient expertise and experiences.

Square Pharmaceutical today symbolizes a name – a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, 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.

ACI Pharmaceutical was established as the subsidiary of Imperial Chemical Industries (ICI) in the then East Pakistan in 1968. After independence the company has been incorporated in Bangladesh on the 24th of January 1973 as ICI Bangladesh Manufacturers Limited and also as Public Limited Company. This Company also obtained...
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