News & Events 2020
Mr. Abdul Muktadir, Chairman and Managing Director, Incepta Pharmaceuticals Ltd. has been awarded as the “Business Person of the Year 2019” in “The Daily Star-DHL 19th Bangladesh Business Awards” ceremony, an effort to recognize the extraordinary achievements of our business leaders.
After spending 15 years in the pharmaceuticals sector, Abdul Muktadir decided to become an entrepreneur and started Incepta Pharmaceuticals in 1999. In just eight years, Incepta Pharmaceuticals became the second-largest Pharmaceutical Company in Bangladesh, a rare feat for a small market with many competing companies.
Under his leadership, Incepta has become the first company in Bangladesh to roll out insulin, biotech products, and vaccines. By producing these locally, the company has been able to bring down the prices significantly. Today, Incepta exports medicines to 73 countries.
WomanCare Global Trading CIC (DKT WomanCare) and Incepta Pharmaceuticals, Ltd. signed a strategic agreement on July 1, 2020 to register, supply, promote and sell Medogen® in 40 countries around the world. Medogen® is a 3-month contraceptive commonly known as depot medroxyprogesterone acetate, or DMPA-IM.
This agreement leverages the capabilities of both partners; Incepta is a world-class pharmaceutical manufacturer supplying the world with over one thousand different human and animal products, with Medogen® receiving Prequalification status from the World Health Organization (WHO) in February 2020. This credential provides an accelerated regulatory pathway in the 44 signatories of the WHO’s Collaborative Procedure for Accelerate Registration. It also privileges Medogen® for government tenders and procurement by multilateral agencies like the United Nations Population Fund (UNFPA) and the United States Agency for International Development (USAID).
DKT WomanCare markets contraceptives products in more than 90 countries around the world and is part of DKT International, one of the world’s largest providers of family planning, HIV/AIDS and safe abortion products and services. Both DKT International and DKT WomanCare use social marketing as a means to promote family planning, drive uptake of contraceptives, and shape the markets where they operate. Under the terms of the agreement, Incepta will also supply DMPA-IM to DKT country programs and DKT WomanCare under their own private brands, creating a richer and more diverse set of family planning options for women around the world.
The partnership comes at an opportune moment: the demand for 3-month contraceptive injections is increasing year after year while the pool of qualified suppliers remains the same. “The COVID-19 pandemic has disrupted supply chains everywhere, and this impact is more severe in developing countries,” said Jacques-Antoine Martin, Managing Director of DKT WomanCare. “Registering Incepta as another supplier in these countries will reduce waiting times for shipments and guard against stock-outs at pharmacies and clinics.”
“This partnership is a triple win: it helps Incepta increase our footprint quickly with an experienced partner in DKT and its global network; it enables DKT to secure a steady and high-quality supply of contraceptive injectables at an affordable price; and most importantly, it increases the basket of choice so more women have control over their reproductive destinies,” said Mr. Abdul Muktadir, Incepta’s Chairman and Managing Director of Incepta.
“WomanCare is an ideal partner for this kind of market development and market-shaping work,” stated Rodrigo Portugues, Commercial Director of DKT WomanCare. “Representing Incepta and Medogen® aligns well with our mission and vision and puts us in a position to deliver significant impact and reach millions of women while expanding our portfolio and leveraging our global footprint.”
The collaboration will begin in 10 countries, including Kenya, Ethiopia, Ghana, DR Congo, and Madagascar. As some of the largest injectable markets in the world, both Incepta and DKT WomanCare look to a fast start for their partnership. “This collaboration on Medogen® is the first milestone in what we expect to be a fruitful and brilliant endeavor with WomanCare Global,” mentioned Ms. Hasneen Muktadir, Incepta’s Vice-Chairman of Incepta, to members of both organizations during a virtual kick-off meeting on July 29, 2020.