IBN SINA Pharmaceutical Industry

What IBN SINA Pharmaceutical Industry does

IBN SINA Pharmaceutical Industry PLC is a Bangladesh-based, publicly listed (DSE/CSE: IBNSINA) pharmaceutical manufacturer founded in 1984 and headquartered in Dhaka. The company manufactures and distributes 400+ generic pharmaceutical products across nearly all major dosage forms — tablets, capsules, dry powder for oral suspension, syrups/suspensions/solutions/pediatric drops, injectables, ophthalmic, otic and nasal drops, and dermatological cream/ointment/gel — and operates three wholly-owned subsidiaries: The IBN SINA Natural Medicine Ltd (herbal and Unani medicines, est. 2008), The IBN SINA API Industry Ltd (active pharmaceutical ingredients and raw materials, incorporated Sept 2019), and The IBN SINA Polymer Industry Ltd (PET bottles, blister foils, PVC films, and packaging components, est. 2019). Manufacturing is conducted under WHO cGMP compliance with ISO 9001:2015 and ISO 22000:2018 certifications at a primary plant in Kaliakoir, Gazipur, and the company has introduced differentiated formulations such as MUPS (Multiple Unit Pellet System) tablets (e.g., XOREL, ESOLOK) and was first in Bangladesh to locally manufacture Gadoteric Acid MRI contrast media (Gadosol).

The company's go-to-market combines an owned 20-depot distribution network covering all major Bangladesh cities with a ~2,600-person field-marketing organization split across Pharma, Sinavision, and Natural Medicine divisions, supported by Medical Services, Indoor Marketing, and Market Research teams. Revenue is generated through one-time sales of pharmaceutical and natural products domestically and through export partnerships and contract manufacturing across Asia, Africa, USA, Central America, and South America; pricing is not publicly disclosed. Customer end-markets are Bangladesh healthcare providers and patients, with export partners as institutional B2B counterparties. Recent product launches (2024-2025) span FDA-approved antidiabetic combinations (Linax E, Glipatab-M), cardio-renal agents (Finotab), ARBs (Teltab, Olmetab), diagnostic contrast media (Visican, Lopitrast 370), ophthalmic combinations (Rsudil Plus), and novel niches (Chirocap for PCOS, Bacigut-9 probiotic, Colagen Plus for joint health), indicating a deliberate shift toward higher-value specialty and chronic-disease categories. Financial signals include a 60% cash dividend approved for FY2022-23 and a national-exchequer contribution of BDT 1,637,445,414 in taxes for the same period.

Name

IBN SINA Pharmaceutical Industry

Legal name

The IBN SINA Pharmaceutical Industry PLC

Website

https://ibnsinapharma.com

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Generic Pharmaceutical Manufacturing

NAICS

Pharmaceutical Preparation Manufacturing (325412), Medicinal and Botanical Manufacturing (325411), Drugs and Druggists' Sundries Merchant Wholesalers (42421)

SIC

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

akta.pro primary industry

Generic Finished Dosage Form (FDF) Manufacturing (HLAIABAH)

akta.pro secondary industries

Hospital & Health-System Pharmaceutical Distributors (HLAIAJAD), Specialty Pharmaceutical Distributors (HLAIAJAB), Compounding Ingredient & API Distributors (Pharma Supply) (HLAIAJAO), Unit-Dose & Compliance Packaging (Sachets, Strip Packs, Pill Organizers) (IMALAIAH)

Keywords

• Generic pharmaceutical manufacturing
• Active pharmaceutical ingredients
• Ophthalmic pharmaceuticals
• Herbal unani medicines
• Contract pharmaceutical manufacturing

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Pharmaceutical Products: Manufacturing and distribution of generic pharmaceutical formulations including tablets, capsules, injectables, ophthalmic products, and dermatological products. The company has 400+ products and exports to Asia, Africa, USA, Central America, and South America.
2. Natural/Herbal Medicine: Manufacturing and distribution of herbal and Unani natural medicines through subsidiary The IBN SINA Natural Medicine Ltd.
3. Active Pharmaceutical Ingredients (API): Manufacturing of API and raw materials of medicine through subsidiary The IBN SINA API Industry Ltd, incorporated in September 2019.
4. Polymer Products: Manufacturing of polymer products including PET bottles, compression molding, plastic caps, eye drops plastic vials, plastic drops, and other packaging materials for pharmaceutical industry through subsidiary The IBN SINA Polymer Industry Ltd.
5. Contract Manufacturing: The company offers contract manufacturing support to global partners with wide production capacity to manufacture cost-effective products of buyer's interest.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

IBN SINA Pharmaceutical Industry PLC manufactures and distributes 400+ generic pharmaceutical formulations across dosage forms including tablets, capsules, dry powder for oral suspension/sachets, syrup/suspension/solution/pediatric drops, injectables, ophthalmic products, ear/otic drops, nasal drops, and dermatological cream/ointment/gel. The company also produces herbal/Unani medicines through a subsidiary, manufactures Active Pharmaceutical Ingredients (APIs) and pharmaceutical polymer packaging materials, and offers contract manufacturing services to global partners.

Product overview

IBN SINA Pharmaceutical Industry PLC is a WHO cGMP compliant pharmaceutical manufacturer with ISO 9001:2015 & ISO 22000:2018 certifications, producing 400+ pharmaceutical products across multiple dosage forms. The product portfolio includes General Pharma products (tablets, capsules, syrups, injectables), Ophthalmic products (eye drops, eye gels), and Natural/Herbal products. Core brands include DEXLAN, ESOLOK, XOREL, LINAX, GAVISOL, VOTAB, MEROCLAV, SUCRASOL, and OLMEDIP. The company operates through three subsidiaries: The IBN SINA Natural Medicine Ltd (herbal/Unani medicines), The IBN SINA API Industry Ltd (Active Pharmaceutical Ingredients), and The IBN SINA Polymer Industry Ltd (packaging materials). Recent launches include Finotab (Finerenone for CKD/diabetes), Teltab/Olmetab (antihypertensives), Linax E/Glipatab-M (antidiabetics), Visican/Lopitrast/Gadosol (diagnostic contrast agents), and ophthalmic products like Rsudil Plus and Polygel Eye Gel.

Differentiator

Problem solved

Functional benefit

Products and services

• General Pharmaceutical Products 400+ generic pharmaceutical formulations including tablets, capsules, dry powder for oral suspension/sachets, syrup/suspension/solution/pediatric drops, injectables, and dermatological cream/ointment/gel. Sold to pharmacy distributors, hospitals, and medical institutions across Bangladesh and exported internationally. Includes brands such as DEXLAN, ESOLOK, XOREL, LINAX, GAVISOL, MEROCLAV, SUCRASOL, OLMEDIP, VOTAB, OLMETAB, TELTAB, FINOTAB, GLIPATAB-M, LINAX E, XEVON, SINAZID, PERATRUM, and BILAMIN.
• Ophthalmic Pharmaceutical Products Ophthalmic products including eye drops and eye gels for treatment of glaucoma, ocular hypertension, and dry eye conditions. Recent launches include POLYGELEYE GEL (PEG/Propylene Glycol eye gel for dry eye relief, launched 2025-03) and RSUDIL PLUS EYE DROPS (fixed-dose combination of Netarsudil and Latanoprost for glaucoma, launched 2025-01).
• Herbal and Unani Natural Medicines

Quantifiable outcome

• 400+ pharmaceutical products manufactured
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Global PartnerscoreChannel Partner/ Reseller/ DistributorThe company has attained immense support from global partners through ensuring product quality and conforming to stringent regulatory guidelines. Currently exporting pharmaceutical products to several countries in Asia, Africa, USA, Central America and South America.
• DGDA (Directorate General of Drug Administration)coreOthersBangladesh regulatory body for pharmaceutical industry. Major General Mohammad Yousuf, Director General, DGDA and Md. Harun Or Rashid, Deputy Director visited the company on August 9, 2022 and expressed satisfaction on sophisticated facilities and quality system.

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Drug International Limited: Bangladesh-based generic manufacturer with API and finished dosage capabilities. Direct comparator given similar vertical integration approach and regional export ambitions.
• Healthcare Pharmaceuticals: Mid-sized Bangladeshi pharmaceutical manufacturer focused on generics and specialty categories. Direct domestic peer competing on similar therapeutic areas and field-force model.
• ACI Limited (Pharma Division): Diversified Bangladeshi conglomerate with a sizable pharma division across formulations and API. Comparable in product breadth, distribution scale, and listed-company governance profile.
• Eskayef Pharmaceuticals (SK+F): Bangladeshi generic manufacturer with strong export footprint to Asia and Africa. Directly competes on formulation breadth, contract manufacturing, and emerging-market exports.
• Incepta Pharmaceuticals: Leading Bangladeshi generic manufacturer with strong domestic presence and vaccine/biotech expansion. Comparable product breadth and emphasis on local manufacturing depth.
• Beximco Pharmaceuticals: Public Bangladeshi generic manufacturer exporting to 50+ countries with US FDA-approved facilities. Direct competitor on branded generics, contract manufacturing, and export-led growth strategy.
• Square Pharmaceuticals: Bangladesh's largest pharmaceutical manufacturer with a broad generic and specialty portfolio. Closest direct competitor to Ibn Sina in the domestic market and the dominant force Ibn Sina benchmarks itself against on field force and depot coverage.
• Renata Limited: Bangladesh-listed pharma company with animal health, generics and emerging biopharma exposure. Comparable scale, public market listing on DSE/CSE, and a similar field-force-driven domestic model.
• The ACME Laboratories: Bangladeshi pharma company with broad generic portfolio and emerging export business. Comparable size, regulatory profile, and product mix to Ibn Sina's domestic franchise.

Broad incumbents

• Cipla Limited: Indian generic powerhouse with deep emerging-market distribution, large respiratory/ophthalmic portfolios, and global cGMP operations. Not a direct domestic competitor but a benchmark for the scale Ibn Sina aspires to as it grows exports to Africa, USA and Asia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 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 IBN SINA Pharmaceutical Industry