In a significant convergence of over 900 industry professionals spanning six days during the World Pharma Brand Managers Week 2024, the joint event was organized by PharmaState.Academy and IES’s Management College and Research Centre (IESMCRC), emerged as a pivotal platform.

This blog encapsulates the highlights from the sixth day of the World Pharma Brand Managers Week 2024. The event, featuring keynote speeches, presentations, and dynamic discussions, explored critical topics such as brand management, corporate branding, pharmaceutical innovations, and global brand management challenges and strategies for Bangladesh Pharma Industry.

Keynote Speech on Brand Management by Dr. Mohammad Mujahidul Islam:

The event commenced with a compelling keynote speech by Dr. Mohammad Mujahidul Islam, Executive Director of Marketing and Sales at SKF Pharmaceutical. Dr. Islam’s insights underscored the significance of understanding customer needs in effective brand management. He urged industry professionals to focus on customer segments and brand objectives while advocating for collaborative decision-making.

Bangladesh’s Pharmaceutical Industry: Achievements and Future Prospects with Sadman Hassan:

Sadman Hassan, Director, Aristopharma Ltd. provided a comprehensive overview of the achievements and potential of the Bangladesh pharmaceutical industry. Despite concerns surrounding the country’s graduation from Least Developed Countries, Sadman outlined opportunities for economic development, improved international financing, and a modernized industry. The key lies in innovation, diversification, and global integration, paving the way for Bangladesh to emerge as a major global player.

Leadership Strategies and Pharma Industry Insights by Tanbir Sajib, FCIM:

Tanbir Sajib, CMO at Renato Limited, shared insights on Renata’s journey, emphasizing the competitive nature of the Bangladeshi market and the importance of quality leadership. They underscored the role of brand managers as CEOs of their brands, responsible for strategic planning, revenue projections, and customer segmentations.

Customer Centricity, Future Transformation, and Market Landscape Discussions:

Mr. Tanbir highlighted the importance of customer-centricity in the pharmaceutical industry. The subsequent discussion on the transformation of the pharmaceutical marketing industry delved into the current market landscape for biologics and biosimilars, emphasizing patient-centric approaches and stakeholder confidence in the brand.

The event seamlessly progresses, transitioning into the engaging Brand Chat segment, where the spotlight shifts to a discussion encompassing seven insightful topics.

Insights on ‘Branding of a unique biosimilar’:

Taniya Idris (M.Pharm, MBA) facilitated discussions on the transformation of the pharmaceutical marketing industry in the next decade. Taniya, a marketing and sales manager, presented the current market landscape for biologics and biosimilars, emphasizing the importance of patient-centric approaches and stakeholder confidence in the brand.

“The branding of an antibiotic in a jam-packed segment” by Md. Solaiman Kabir:

A highlight of the event was Md. Solaiman Kabir’s presentation on UniMed UniHealth Pharmaceuticals’ strategy and launch plan for a new antibiotic brand. Kabir emphasized the importance of understanding patient, customer, and medical representative segments, outlining comprehensive marketing strategies for success.

“Corporate branding in local and global markets”:

Shams Ud Dowla, with over 12 years of experience in market expansion, discussed the importance of corporate branding and its interconnectedness with product branding. The dialogue stressed the need for differentiation, regulatory compliance, and the advantages of a well-branded company in navigating market challenges.

Marketing a hormone in the Bangladesh market

Riduanul Islam Bhuiyan ( Riduan ), addressing the audience with expertise, outlined a comprehensive strategy to tackle prevailing market challenges, underscoring the utmost importance of delving into patient perspectives and ensuring precise communication. His focused presentation, centered around the unique challenges associated with marketing a hormone in the Bangladesh market, shed light on the intricacies of understanding consumer needs and implementing effective communication strategies in a niche pharma sector.

The branding of an NSAID in a crowded market

Mir Arshiya Zaman took the stage to disclose the strategic blueprint for the launch of Seclofenac, a novel generic medication, with a particular emphasis on targeted promotion and a patient-centric approach. In a market teeming with options, Mir’s presentation delved into the intricacies of branding a Nonsteroidal Anti-Inflammatory Drug (NSAID) in a crowded landscape. The discussion offered a valuable glimpse into the thought processes and methodologies essential for navigating the complexities of branding within a saturated pharmaceutical market.

“Dynamics of global brand management” by Rezwanul Kabir Niloy. BPharm, MBA:

Rezwanul Kabir Niloy addressed the dynamics of global brand management, sharing experiences and strategies for navigating the challenges of transitioning from local to global markets. Adaptation to local preferences, understanding local economies, and establishing suitable local partners were crucial to global success.

‘Branding of the 27th PPI in Bangladesh” by Dibasish Mondol:

Dibasish, a senior brand executive at Novatek Pharmaceuticals, discussed the significance of Mega brands in Bangladesh and their potential launch, focusing on customer perception, sales strategy, and patient marketing for OTC products. Their commitment to customer-centric service and differentiation echoed the overarching theme of the event.

Conclusion:

As the event concluded successfully, it is evident that the collaborative efforts of industry leaders, insightful presentations, and engaging discussions have set the stage for Bangladesh to assert itself as a key player in the global pharmaceutical arena.

The day was a testament to the industry’s commitment to innovation, collaboration, and customer-centric strategies that will shape the future of pharmaceuticals in Bangladesh and beyond.