Challenges Faced by Novartis Bangladesh

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CHALLENGES FACED BY\ NOVARTIS BANGLADESH Executive Summary The company chosen for conducting this report is Novartis (Bangladesh). Inspite of being the 4th largest Pharmaceutical Company in the world, in Bangladesh NOvarts holds the 19th position. This report analyzes, in details, the challenges faced by Novartis while operating in the Bangladesh Market. Among the different factors creating obstacles the most prominent ones are the political, socio-cultural, legal and technological factors, which are the determinant factors for the survival of this company in its constant struggle against the other leading domestic pharmaceutical companies of Bangladesh. Finally, we have provided some possible recommendations that Novartis Bangladesh can use in order to deal with some of the challenges they are currently facing in the Bangladesh Market. Table of Contents: 1. Introduction………………………………………………… pg.1 2. Company Background……………………………………… pg. 2 3. Challenges faced by Novartis Bangladesh………………….. pg. 5 4. Recommendations…………………………………………… pg.9 5. Conclusion…………………………………………………... pg. 10 Introduction One distinctive feature of the Pharmaceutical Industry in Bangladesh is that both local and multinational companies are operating at the same scale in the industry. Both local and multinational companies are enjoying the leads and the neck-to-neck competition among these companies is a constant fight for survival in the market. Surprising but true, many multinational companies are facing a tough competition from our local manufacturers and are being unable to retain their competitive advantage. The pharmaceutical industry in Bangladesh is one of the most developed hi-tech sectors within the country's economy. In 2000, there were 210 licensed allopathic drug-manufacturing units in the country, out of which

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