Square Pharmaceuticals

What Square Pharmaceuticals does

Square Pharmaceuticals PLC is the flagship company of Square Group and has held the #1 position in Bangladesh's pharmaceutical industry continuously since 1985. The company is a publicly listed, vertically integrated pharmaceutical manufacturer headquartered in Dhaka, with a portfolio spanning generic and branded generics across cardiovascular, anti-infective, diabetes, CNS, respiratory, oncology, and other therapeutic categories; herbal and nutraceutical products (Square Herbal & Nutraceuticals Ltd.); agrovet and crop care products; medical devices; and Active Pharmaceutical Ingredients including Amoxicillin Trihydrate, Cloxacillin Sodium, Flucloxacillin Sodium, and Diclofenac Sodium. Manufacturing is conducted across multiple GMP-compliant sites: the Dhaka Unit (solid dosage, cephalosporin, insulin, small/large volume parenteral, ophthalmic), Square Formulations Ltd. (Tangail, 8,000 million tablet and 2,000 million capsule annual capacity at full utilization), Square Lifesciences Ltd. (Pabna, commercial production from 2022), and a plant under construction in Nairobi, Kenya via Square Pharmaceuticals Kenya EPZ Ltd.

The company operates a sales-led go-to-market anchored by a Medical Promotion Officer field force calling on physicians and hospitals across Bangladesh, supplemented by a 37+ regional distribution depot network and retail pharmacy channel. International expansion is conducted through direct exports to 38+ countries across Asia, Africa, Oceania, Central & South America, Europe (UK), and North America (US FDA registration in progress), plus equity-led entry in the Philippines via Samson Pharma Inc. and an in-house Kenya manufacturing subsidiary. Revenue streams include domestic and export finished pharmaceutical sales, API sales to other manufacturers, UK contract manufacturing, herbal/nutraceutical sales, and agrovet products, with pricing determined per market/therapeutic category and procurement channel rather than disclosed publicly.

Differentiating capabilities include multiple top-tier regulatory certifications — US FDA cGMP (first Bangladesh company, 2015), UK MHRA (first Bangladesh company, 2007), Australia TGA, PIC/S for the Penicillin Formulation Unit from NPRA Malaysia (first in Bangladesh, October 2024), and MOH Azerbaijan — a USFDA-approved ANDA for Valsartan Tablets, and a dedicated biosimilar/biopharmaceutical R&D facility (Samson H Chowdhury Centre of Excellence). The Chowdhury family retains controlling ownership through Samuel S Chowdhury (Chairman), Ratna Patra (Vice Chairman), Tapan Chowdhury (Managing Director), and Anjan Chowdhury (Director) following a 2017 succession transmission from the founder's estate.

Name

Square Pharmaceuticals

Legal name

Square Pharmaceuticals PLC.

Website

https://squarepharma.com.bd

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Square Pharmaceuticals PLC is Bangladesh's largest pharmaceutical manufacturer since 1985, producing generic and branded medicines, APIs, herbal/nutraceuticals, and agrovet products for domestic markets and exports to 38+ countries across multiple continents.

Ownership category

akta.pro rank

Product category

Pharmaceutical Manufacturing

NAICS

Pharmaceutical Preparation Manufacturing (325412), Pharmaceutical and Medicine Manufacturing (3254), Medicinal and Botanical Manufacturing (325411)

SIC

Pharmaceutical Preparations (2834), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122), Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Specialty Care Pharmaceuticals (HLAIAAAB)

akta.pro secondary industry

Compounding Ingredient & API Distributors (Pharma Supply) (HLAIAJAO)

Keywords

• Pharmaceutical manufacturing
• Generic pharmaceuticals
• API manufacturing
• Herbal nutraceuticals
• Agro-vet products

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain, Infrastructure

Revenue model

1. Pharmaceutical Product Sales - Domestic: Sale of finished pharmaceutical products including generics, branded generics across multiple therapeutic categories to healthcare providers and patients within Bangladesh. Revenue generated through extensive field force network and distribution depots.
2. Pharmaceutical Export Sales: Export of finished pharmaceutical products to 38+ countries across Asia, Africa, Oceania, Central & South America, with contract manufacturing for UK markets and ongoing FDA registration for US market entry.
3. API (Active Pharmaceutical Ingredient) Sales: Manufacturing and sale of Active Pharmaceutical Ingredients including Amoxicillin Trihydrate, Cloxacillin Sodium, Flucloxacillin Sodium, and Diclofenac Sodium to other pharmaceutical manufacturers.
4. Contract Manufacturing: Offer of facilities for contract manufacturing services to international pharmaceutical companies, with established UK contract manufacturing operations.
5. Herbal & Nutraceutical Products: Sale of herbal and nutraceutical products including dietary supplements, herbal medicines, and ayurvedic preparations under Square Herbal & Nutraceuticals Ltd.
6. AgroVet & Crop Care Products: Sale of agricultural veterinary products and crop care solutions under the AgroVet division.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Square Pharmaceuticals PLC manufactures and markets finished pharmaceutical products across multiple dosage forms (tablets, capsules, injectables, insulin, inhalers, cephalosporins) for cardiovascular, anti-infective, diabetes, CNS, oncology, and other therapeutic categories. The company also produces Active Pharmaceutical Ingredients (APIs), herbal and nutraceutical products, agrovet and crop care products, and operates a contract manufacturing business for international partners. Its portfolio spans 300+ molecules with leadership in Bangladesh's pharmaceutical market since 1985.

Product overview

Square Pharmaceuticals PLC is a diversified pharmaceutical company offering a broad portfolio of pharmaceutical products, herbal & nutraceuticals, medical devices, and agrovet products. The company's pharmaceutical portfolio includes branded drugs across therapeutic areas such as antibiotics (Cefamil-5™, Trevox®), antifungals (Itra® Nova), antivirals (Amenavir™, Carazol™), cardiovascular drugs (Rosuva® EZ), CNS preparations (Bupro-D™), analgesics (Ace® Duo), and antianemics (Hemoron™). The Herbal & Nutraceuticals line includes products like Laxisoft™, Q-late™, and Carazol™. Manufacturing operations span multiple facilities including the Dhaka Site, Pabna Site, Square Formulations Ltd., API Production Unit, and SQUARE Lifesciences Ltd. subsidiary. The company operates under Square Group and holds leadership position in Bangladesh's pharmaceutical industry since 1985.

Differentiator

Problem solved

Functional benefit

Brands

• SQUARE Herbal & Nutraceuticals Ltd. Herbal and nutraceutical products division offering natural healthcare products including Reli Balm, Laxisoft, Q-late and other herbal medicines
• Square Formulations Ltd.
• SQUARE Lifesciences Ltd.
• SQUARE Cephalosporins Ltd.
• Ansulin

Products and services

• Hemoron Oral solution containing Sodium Feredetate, an antianemic drug indicated for iron deficiency anemia. Formulated to minimize stomach upset and tooth discoloration.
• Flonaspray Max Nasal corticosteroid spray containing Fluticasone propionate for treating chronic rhinosinusitis with or without nasal polyps in adults.
• Trevox Ear Drops Quinolone antibiotic otic solution containing Levofloxacin for treating Otitis externa and Otitis media caused by susceptible bacteria strains.
• Feoza Non-hormonal preparation containing Fezolinetant indicated for treatment of moderate to severe vasomotor symptoms due to menopause.
• Rosuva EZ Combination cardiovascular preparation of Rosuvastatin and Ezetimibe for treating primary hyperlipidemia and homozygous familial hypercholesterolemia.
• Carazol Nasal Spray Herbal/nutraceutical nasal spray containing iota-Carrageenan from Chondrus crispus for prophylaxis and supportive treatment of viral upper respiratory tract infections.
• Amenavir Systemic antiviral containing Amenamevir for treating varicella zoster, herpes zoster, herpes simplex, recurrent herpes simplex, and acyclovir-resistant herpes infections.
• Ace Duo Non-narcotic analgesic combination of Paracetamol and Ibuprofen for temporary relief of headache, migraine, tension headache, toothache, and other pain conditions.
• Bupro-D Antidepressant combination of Dextromethorphan Hydrobromide and Bupropion Hydrochloride for treating Major Depressive Disorder (MDD) in adults.
• Itra Nova Super bioavailable Itraconazole antifungal for systemic fungal infections including oropharyngeal candidiasis, vulvovaginal candidiasis, pityriasis versicolor, tinea infections, onychomycosis, histoplasmosis, aspergillosis, and cryptococcosis.
• Laxisoft Herbal laxative containing botanical ingredients including Plantago ovata, Senna, Terminalia chebula, and others for constipation, intestinal inflammation, IBS, and ulcerative colitis.
• Cefamil-5 5th generation cephalosporin antibiotic containing Ceftaroline Fosamil for acute bacterial skin and skin structure infections (ABSSSI) and community-acquired bacterial pneumonia (CABP).
• Q-late Hematinic supplement containing 6s-5-methyltetrahydrofolate to prevent folate deficiency during pregnancy and lactation, prevent neural tube defects, and normalize homocysteine levels.
• AgroVet & Crop Care Products Agricultural veterinary products and crop care solutions offered under the AgroVet division for crop protection and animal health applications.
• Active Pharmaceutical Ingredients (API) API production of Amoxicillin Trihydrate, Cloxacillin Sodium, Flucloxacillin Sodium, and Diclofenac Sodium in Class D production facility for supply to other pharmaceutical manufacturers.
• Contract Manufacturing Services Contract manufacturing services for international pharmaceutical companies, with established UK contract manufacturing operations and ongoing FDA registration for US market entry.

Quantifiable outcome

• First PIC/S certification for penicillin manufacturing in Bangladesh - enables export to PIC/S member countries
• +2 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Samson Pharma Inc., PhilippinescoreStrategic or Co-development Partner · 20 November 2023Square Pharmaceuticals PLC. invested USD 1.00 million in equity of Samson Pharma Inc., Philippines for marketing and distribution of pharmaceutical products. Company incorporated in Philippines with expected business start in April 2024. Debt-Equity ratio 60:40 with total initial investment of USD 2.5 million.
• Square Pharmaceuticals Kenya EPZ Ltd.coreStrategic or Co-development Partner · 8 January 2018100% subsidiary of Square Pharmaceuticals Ltd. Construction of state-of-the-art pharmaceutical manufacturing plant in Nairobi, Kenya. First Bangladeshi pharmaceutical manufacturer to build own plant outside Bangladesh. Groundbreaking ceremony held January 8, 2018 with construction commenced.
• Square Lifesciences Ltd.coreStrategic or Co-development PartnerVirtually wholly owned pharmaceutical manufacturing subsidiary of Square Pharmaceuticals PLC. Plant situated at Patikabari, Hemayetpur, Pabna. Commercial production commenced in 2022 following regulatory clearances from BIDA, DoE, and DGDA.
• United Nations Global CompactminorStrategic or Co-development PartnerSquare Pharmaceuticals is a pioneer signatory of UNGC and participated in UNGC Asia/Oceania Local Network Regional Meeting 2014. Demonstrated commitment to UN Global Compact's 10 principles in human rights, labor, environment and anti-corruption.
• Dhaka University - Centre For Genocide StudiesminorStrategic or Co-development PartnerThree-year fellowship program CGS-Square Fellowship 2015-2017 jointly initiated by Dhaka University Center For Genocide Studies and Square Group. Agreement signed November 30, 2014.

Scale indicators8 records

Recent moves3 records

Expansion highlights6 records

Emerging players

• Glenmark Pharmaceuticals: Glenmark is an India-headquartered pharma company with branded generics, API manufacturing, and biosimilar pipeline investments. Comparable in diversified therapeutic coverage, emerging market focus, and biosimilar R&D ambitions, though Glenmark's branded specialty franchise is larger.

Direct peers

• Incepta Pharmaceuticals: Incepta is one of the top Bangladesh pharma manufacturers by revenue, producing generics across multiple therapeutic areas including biosimilars and vaccines. Closely comparable in domestic Bangladesh market positioning, formulation capabilities, and export orientation.
• Beximco Pharmaceuticals: Beximco Pharmaceuticals is Bangladesh's largest publicly listed pharma exporter and Square's closest domestic competitor, also exporting to 50+ countries with US FDA-approved facility. Directly comparable in therapeutic coverage, generic branded portfolio, and GTM through Medical Promotion Officers in Bangladesh.
• Eskayef Pharmaceuticals: Eskayef (a Transcom Limited company) is a Bangladesh pharma manufacturer with API and formulation capabilities serving domestic and export markets. Directly comparable in generic pharma manufacturing and Bangladesh field force model.
• Healthcare Pharmaceuticals: Healthcare Pharmaceuticals is a leading Bangladesh pharma manufacturer with strong position in domestic branded generics. Comparable in therapeutic coverage and Bangladesh market participation, though smaller in scale and international reach.
• Renata Limited: Renata is a major Bangladesh-listed pharma company with animal health and consumer healthcare divisions, directly competing with Square in domestic generics and exporting formulations. Comparable scale and Bangladesh market positioning.

Regional players

• ACI Limited: ACI Limited is a diversified Bangladesh conglomerate with a significant pharmaceuticals and consumer healthcare business. Comparable in Bangladesh market participation but broader conglomerate structure with non-pharma businesses diluting pharma focus.

Broad incumbents

• Aspen Pharmacare: Aspen Pharmacare is the largest pharma manufacturer in Africa with global specialty branded pharma business. Comparable in emerging market pharma manufacturing, international expansion strategy, and regulatory diversification across multiple jurisdictions.
• Aurobindo Pharma: Aurobindo is a large Indian generic pharma manufacturer with US FDA-approved facilities, similar low-cost manufacturing model, and significant US ANDA portfolio. Comparable in formulation scale, API integration, and emerging market export orientation, but at substantially larger scale.
• Dr. Reddy's Laboratories: Dr. Reddy's is a major Indian generic pharma company with extensive US FDA-approved manufacturing, large ANDA portfolio, and emerging market presence. Comparable in branded generics, API manufacturing, and emerging market strategy, though at significantly larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCD9nsILLNecjWC6Y2bu6Reg
• Facebookfacebook.com/pages/Square-Pharmaceuticals-Limited-Bangladesh/431131080274554
• LinkedInlinkedin.com/company/square-pharmaceuticals
• Xx.com/squarepharmabd

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Square Pharmaceuticals