Business similar to a tree, patience needed to get its fruits: Majnu Mollah

Mohammad Majnu Mollah, a former star athlete, is playing a pivotal role in the development of the pharmaceutical and agro-based industries in the country as an entrepreneur.

Everest Pharmaceuticals was established under his skilled leadership and is producing international-standard oncology (cancer) medicines to supply both local and global markets at affordable prices.

The company has also created employment opportunities for more than 3,500 people.

Besides, Majnu Mollah has successfully expanded his business into multiple sectors, including an environment-friendly agro-tourism project in Panchagarh, Everest Agri and Fruticulture, and cost-efficient housing for common people through his venture, ‘Nexzen Holdings’.

In an interview, Majnu Mollah shared his vision for business, saying that a business should be like a tree whose fruits ultimately benefit patients and society.

Asia Post: To begin with, we would like to know something personal about you — your childhood, education and how you got into sports.

Mohammad Majnu Mollah: First of all, I would like to thank Asia Post for giving me this opportunity. I spent my childhood and primary education in the village of Old Bandura in Nawabganj, Dhaka. My schooling began at the missionary school Bandura Holy Cross High School. I got good marks there and entered Notre Dame College in Dhaka. Through tireless efforts at Notre Dame, I got the opportunity to study Pharmacy at Jahangirnagar University. Sports was my passion and I led my school in football, 100-metre and 200-metre races and long jumps.

Asia Post: Did your sport career start in school and when did you get a chance to continue it in the university?

Mohammad Majnu Mollah: Actually, I have been into sports since my school days. In the college, unfortunately, I could not continue it for long — the two years’ experience was short. The reality is that I studied in Notre Dame which produced a large number of medical students, BUETians and university graduates. So, there was no chance to allocate time for sports like before. However, I could make a mark in the university football team. I played alongside Bangladesh’s top club players such as Abahani, Mohammedan and Brothers Union as a university player. I was one of the best players at the university level too. Since I was sincere and sporty, I got ample opportunities to pursue both.

Asia Post: Did you ever get an opportunity to play for the national team or any club?

Mohammad Majnu Mollah: Actually, while the captain of the national team was playing for one side, I played for the university as captain on the other side. Roxy Bhai, the captain of the national team, played for one team while I played for the university team. But since I was a Pharmacy student, if I would have selected a professional football career, I would not have been able to focus on my studies to become an entrepreneur and businessman. Though it was my passion and hobby, business was my main aim in life.

Asia Post: Did you have time to pursue sports while studying Pharmacy?

Mohammad Majnu Mollah: I did not play club or regional football but played within the confines of the university. However, I worked hard under the guidance of the university coach. If you set your mind to do something, you can achieve anything. What I would like to say to the younger generation is that they should not always be bookworms. They should look beyond book-reading and studies. They should rather think about how they can contribute to society and the nation. I had a sense of responsibility, ambition and hard work to achieve my goals.

Asia Post: When and how did you get interested in business? Did you begin your career immediately after graduation or did you work somewhere?

Mohammad Majnu Mollah: After graduation, I worked in different organisations at home and abroad. However, my dream was to be a successful businessman. When I did the in-plant training at the factory after my B. Pharm, I used to see how other companies’ medicines were manufactured through the pipeline. I dreamt that one day the medicines produced in my factory would also go through the same process.

Asia Post: You said you had some business experience even before college. Can you tell us about your first business?

Mohammad Majnu Mollah: In 1989, I began a telecommunication business in my area. I believed that ‘communication is civilisation’. So, I took up that initiative and began providing telecommunication services to people and in a short while, the business began to flourish.

However, every business must serve humanity and adhere to environmental rules and regulations. It would be wrong to run businesses that add to the carbon footprint and destroy the environment.

Asia Post: How did you spend the time between graduation and business?

Mohammad Majnu Mollah: Since building something from scratch was my dream, I joined several business houses for about eight years. For knowledge, I spent double the time. Then I went abroad to learn about international markets. I amassed at least 15 years of experience before venturing into business in Bangladesh.

Asia Post: The pharmaceutical sector has a wide scope. How did you start your journey?

Mohammad Majnu Mollah: We began our journey not with in-plant production but with the national and international market. We decided to go for a niche market, oncology or cancer medicines. Thus, we went for the production of cancer medicines and targeted the global market.

Asia Post: Licenses and technicalities play a big part in the pharmacy business. How did you deal with them?

Mohammad Majnu Mollah: For about five to six years before we began our business, we prepared technical dossiers on drugs, drug policy, production issues and much more. We did detailed preparations to become industrialists. Thus, we organised everything according to the government guidelines and drug policy.

Asia Post: Based on your experience, what advice would you give to new entrepreneurs or start-up businesses?

Mohammad Majnu Mollah: New entrepreneurs must understand every aspect of their chosen sector, including backward and forward links. They cannot get money in the morning and begin to make profits in the afternoon. They must understand that business building is like planting a tree. First, they have to plant it, take care of it and then wait for years for it to bear fruits. Same is the case with business; they must be patient.

Asia Post: What works are being carried out under your project “Everest Agro and Fruiculture”?

Mohammad Majnu Mollah: We are engaged in organic mango farming in Panchagarh under this project. We have 6,500 mango trees and the mangoes are being exported. We also have cattle, duckery, layer farming with about 10,000 native chickens and fish farming. We have a resort there from where you can see the Kanchenjunga Mountain Range. We took this initiative to get away from the hustle-bustle of life.

Asia Post: Can your resort and farm be called an “agro-tourism”?

Mohammad Majnu Mollah: Yes, in a way we can call it agro-tourism. We have taken this initiative to bring a healthy body, healthy mind and healthy country through agro-tourism.

Asia Post: What plans do you have for your other organization “NexGen Holdings”?

Mohammad Majnu Mollah: We want to make Bangladesh a country of homes. We plan to construct apartments for middle-class people on the outskirts of Dhaka or outside the capital to de-congest the city with low-profit margins. We also plan to open a modern hospital in the future where people will get treatment at reasonable costs.

Asia Post: Cancer treatment is very costly. Are your cancer medicines affordable?

Mohammad Majnu Mollah: Our medicines are very low-cost compared to other countries. Cancer medicines produced by other companies that cost Tk70-80 lakh can be bought at Tk4-5 lakh at our company due to the Least Developed Country (LDC) status. However, for the poor who cannot afford even Tk4-5 lakh, we provide medicines for free or through donation to the foundation. Our ultimate aim is to fight against cancer on a global scale with a humanitarian approach.

Asia Post: Robotics and artificial intelligence (AI) are being used in cancer treatment. Are you planning to use such technologies in your hospital?

Mohammad Majnu Mollah: Of course, we are planning to adopt the latest technologies in our hospital. We want to make our hospital known as a benchmark in cancer treatment by adopting AI and robotics.

Asia Post: There are many allegations about syndicates fixing medicine prices in Bangladesh. What is your comment on this?

Mohammad Majnu Mollah: Medicine prices in Bangladesh, especially omeprazole and paracetamol, are the cheapest compared to Europe, America, the Middle East and other countries. Despite the rise in dollar rates and raw materials, medicine prices in Bangladesh remained stable. Thus, I strongly oppose the allegation that medicine prices are being manipulated by syndicates.

Asia Post: Why are multinational companies leaving Bangladesh?

Mohammad Majnu Mollah: Actually, they are leaving because of the competitiveness of local pharmaceutical companies. Local companies are supplying medicines produced according to international standards at low prices. Thus, multinationals are not earning profits, and they are compelled to leave.

Asia Post: Are energy crisis and policy barriers discouraging foreign investment?

Mohammad Majnu Mollah: To a great extent, energy crisis and policy barriers affect foreign investors. Political instability, law and order situation and energy security are some of the main issues for any foreign investor. So, for a positive investment climate, political stability and security and energy security must be ensured.

Asia Post: How self-reliant are we in relation to agents and raw materials for research and development (R&D)?

Mohammad Majnu Mollah: We are moderately self-reliant in agents and raw materials for R&D. However, we can never stop trying to become fully self-reliant. We must always try to meet international standards by collaborating with foreign experts and adopting advanced technology.

Asia Post: Is there a gap between the academic syllabus and the needs of the pharmaceutical industry?

Mohammad Majnu Mollah: Yes, there is a gap. The knowledge and practical application provided at the universities need to be upgraded according to international standards.

Asia Post: How do you select people for your organisations?

Mohammad Majnu Mollah: We believe in selecting the right man for the right job. We recruit specialists for specific posts. We conduct written tests and viva voce to assess the knowledge, experience, attitude and vision of the candidates.

Asia Post: How many people did you have when you started your business and how many do you have now?

Mohammad Majnu Mollah: When I started, my five director friends and I became employees. We started our journey with 1100 square feet of office space and 10-12 employees. Then we expanded to oncology, virology, hepatology and many other departments and now have about 3500 employees.

Asia Post: How do you handle macro and micro management in such a big organisation?

Mohammad Majnu Mollah: Knowledge, experience, vision and hard work can help anyone manage a big organisation. We manage our employees as family members and give them freedom and opportunities to utilise their potentials.

Asia Post: Many young and educated unemployed people aspire to be entrepreneurs. What would you say to them?

Mohammad Majnu Molla: Every aspiring entrepreneur must understand that before reaping, you have to sow. There is no business without loss and profit. So, people must gain practical knowledge about the business they want to do. Then, they should do it with patience.

Asia Post: What is your opinion about the revival of herbal medicines?

Mohammad Majnu Mollah: Herbal medicines used to be popular before. However, their production was not up to the international standard and pharmacopoeia. Now, their production is according to the international standard and the demand for herbal and nutraceutical products is increasing.

Asia Post: What are your thoughts and what social activities do you plan to do to remain in people’s memories even after your death?

Mohammad Majnu Molla: Every human being has to leave this world one day, and that is why we try to help as many people as we can. We support thousands of students’ education every year. We look after the people in time of distress and calamity. We help mosques, madrasas and other educational institutions. All good deeds and charity are what make a person live forever.