bangladesh pharmaceutical industry

Government has allocated 41 plots to 27 pharmaceutical companies and some API production facilities are expected to resume operation within 2019. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. Industry people said the local packaging industry is growing at a rate of 10 percent a year. Moreover, few companies are on the road to achieve US-FDA approval. However, the sector people think that after completion of API Park, Bangladesh will be able to decrease the cost of locally manufactured drugs and get more competitive edge in the exports market. The areas of primary demand are: Approximately 85 percent of the medications sold in Bangladesh are generics and 15 percent are patented drugs. After NDP formulation and the Drug Control Ordinance, there was a dramatic change of reverse. Besides catering to local demand, Bangladesh is also exporting its formulations to 62 countries of the world (mainly Asia, Africa and East Europe) and demand for export is increasing rapidly. About us | Contact us | Privacy Policy & Terms of Use. Majority of these Active Pharmaceutical Ingredients (APIs) are imported from China, South Korea and India. Out of these 450 generics, 117 are in the controlled category i.e. Increased education levels, enhanced awareness of healthcare, growing per capita incomes, the emergence of private healthcare services and the government’s expanding public expenditures in this sector continue to stimulate a rise in demand. It is the second largest contributor to the country’s economy. The income base of the population has been growing over the last decade. This sector provides 97% of the total medicinal requirement of the local market. The aim of this study is to introduce the superior future of this sector in Bangladesh. Local Production (97% of market, estimated), $U.S. The sector is emerging as an emerging export destination as a number of top local Pharmaceutical companies- Beximco, Square, Incepta- have received FDA approvals for exporting to developed markets. Multinational and large national companies generally follow current good manufacturing practices (cGMP) including rigorous quality control of their products. Manufacture of pharmaceuticals is now one of the largest capital-intensive white-collar industries in the country, which has grown tremendously over the past few Pharmaceutical industry of Bangladesh is doing well internationally. Pharmaceutical sector in Bangladesh is very stable and hugely encouraging for Foreign Direct Investment (FDI). They have been a major factor contributing to increased healthcare expenditure and have substituted for regional healthcare travel (although treatment in Malaysia and Singapore  remains popular with some wealthy Bangladeshis even traveling to the United States for specialized services). The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. Manufacturers produce insulin, hormones, and cancer drugs. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. Health expenditure per capita doubled during that same period, indicating people’s willingness to spend more on health as their disposable incomes increase. Follow us on your favorite social media network. However, given the increased demand from emerging markets like China, India and Latin America, branded generic drugs may well dominate total sales within a decade. Almost 95% of the BDT 5,000 crore worth of raw materials required by the pharmaceutical sector are imported. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. Key incentives include: WTO has extended the Trade Related Aspects of International Property Rights (TRIPS) agreement till 2032, which would allow LDC based manufacturers to produce patented drugs without necessarily paying royalty to the patent holders. Alongside, pharmaceutical players are targeting to capture a significant market share in price sensitive African markets. The industry also exports medicines to global markets, including Europe. The rules and regulations of the Drug Act forms the foundation of the current industry. View with images and charts. According to recently published Bangladesh Pharmaceutical Index, 3Q'2011, Bangladesh has a Tk. Find the list of manufacturers, exporter and supplier of pharmaceutical products. Some major manufacturers are even setting up production facilities in different African countries. This expectation is supported […] Today, BAPI is one and only registered and recognized Association of the private sector pharmaceutical companies of Bangladesh. Bangladesh manufactures more than 450 generic drugs for 5,300 registered brands, which have 8,300 different forms of dosages and strengths. Some of these companies are also emerging as competitors to Indian firms in certain areas. World’s top quality pharmaceutical companies in Bangladesh. DATABD.CO is a one-stop source for business data in Bangladesh. To a … The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. At the same time, … According to the Bangladesh Association of Pharmaceutical Industries (BAPI) and Directorate General of Drug Administration (DGDA), approximately 257 licensed pharmaceutical manufacturers produce various categories of medicines. A total of 42 industries will be set up in the park, which will hold the potential to significantly boost the pharmaceutical sector in the country and create employment for more than 35,000 people. Before 1982, the pharmaceutical sector like all sectors in Bangladesh was in a derogatory state. It adopted The Drug Act 1940 in 1974, originally adopted by the Indian government in 1940, and later by the Pakistani government in 1957. This offers significant opportunities for U.S. firms to partner with Bangladeshi companies to produce for domestic or international markets. Increased education levels, enhanced awareness of healthcare, growing per capita incomes, the emergence of private healthcare services and the government’s expanding public expenditures in this sector continue to stimulate a rise in demand. After liberation, Bangladesh pharma industry was largely dominated by the import dependent MNCs. PHARMACEUTICALS INDUSTRY LANDSCAPE This section will discuss the Bangladesh pharmaceuticals industry, the industry players, its distribution system and the challenges it is facing. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. Healthcare Pharmaceutical ltd made a great jump to 12th position. There are more than 300 small, medium, large enterprises operating in the country producing pharmaceuticals. Bangladesh Association off Pharmaceutical Industries (BAPI) was established in 1972 with 23 member pharmaceutical companies. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. Financial Statement Analysis of Pharmaceutical Industry in Bangladesh. The pharmaceutical sector of Bangladesh is expanding rapidly and some companies have already certified by different international regulatory authorities like UK-MHRA, Australia-TGA, EU, etc. Two organizations regulate drugs and pharmacies in Bangladesh. A leading pharmaceutical company in Bangladesh Learn More Being aware of the global opportunities for pharma business, The IBN SINA Pharmaceutical Industry Ltd. relentlessly bolsters its international presence by capacity building, quality products and superior services and … The pharmaceutical industry is amongst the most developed industries within Bangladesh. Bangladesh pharmaceutical industry is the second highest contributor to the national exchequer after garments, and it is the largest white-collar intensive employment sector of the country. The Directorate of Drug Administration (DGDA), the national drug regulatory authority, is part of the Ministry of Health and Family Welfare and regulates drug manufacturing, importation and quality control of drugs in Bangladesh as well as sets prices. in the essential drug list. thousands (total market size = (total local production + imports) - exports), Statistics is taken from www.export.gov/article?id=Bangladesh-Pharmaceutical, For more information visit http://www.pharmajogot.com/bangladesh-association-of-pharmaceutical-industries-bapi/, Hamid Suleymanov 56-58, Yakkasaray district, Tashkent, 100070, © 2016 - 2021 Embassy of the People's Republic of Bangladesh in Tashkent. Regarding the success of local pharmaceutical firms, industry insiders said the sector is largely protected from the threat of foreign competitors, as there is a restriction on the import of drugs that are similar to locally manufactured variants. Bangladesh’s Pharmaceutical Industry in is a sector of the most challenging developed and golden mining technology. The discussion will, however, begin with a brief overview of the global pharmaceutical industry. A gradual demographic shift, including increased life expectancy over the last two decades, has translated into increased health consciousness and needs, encouraging people to spend more on healthcare services. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. On or before 1982 ordinance, 75% of the market was dominated by the MNCs and the rest share was with the other 133 local companies. 1.1 Background. Bangladesh exported pharmaceutical products to 105 countries. Considering Bangladesh’s export potential, government has been supporting the sector through policy support and incentives like tax holidays, priority in getting lands and allocation of dedicated economic zones. Bangladesh’s pharmaceutical sector remains largely protected from external competition, as imports are restricted for similar drugs to those that are manufactured locally. There are currently around 100 Bangladeshi pharmaceutical companies in operation. After the promulgation of Drug Control Ordinance - 1982, the development of this sector was accelerated. Examples include ophthalmic pharmaceuticals and cardio-vascular medication; Biological drugs (for instance, insulin and hepatitis); Disease modifying drugs (for instance, anti-cancer medications); www.export.gov/article?id=Bangladesh-Pharmaceutical, http://www.pharmajogot.com/bangladesh-association-of-pharmaceutical-industries-bapi/. The industry suffered the greatest negligence during the Pakistan… Drug development and contract research outsourcing from European countries, including the United Kingdom. The Global Pharmaceutical Industry According to IMS Health (2010), the global pharmaceutical industry … Due to the benefits of TRIPS agreement applicable for manufacturers in LDC, local players end up producing medicines at much cheaper rates, compared to their international counterparts.

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