Bangladesh manufactures almost all types of medicines and fulfills the demand of 160 million people. The country manufactures around 97 per cent medicines domestically and imports the remaining 3.0 per cent.
1) Allopathic Drug, 2) Homoeopathic Drug, 3) Unani Drug, 4) Ayurvedic Drug, and 5) Herbal Drug - these five types of drugs are manufactured in the country. There are two regulatory authorities - the Directorate General of Drug Administration (DGDA) (under the Ministry of Health and Family Welfare), and the Pharmacy Council of Bangladesh (PCB) (under the Pharmacy Ordinance Act 1976).
According to the Annual Report of DGDA - 2015, the total number of licensed essential drugs is 209 that include tablet, powder for oral liquid, powder for injection, eye drop, cream, lotion, soluble injection, chewable tablet, vaccine, ear drop, inhaler, suppository, capsule, oral vaccine etc. Bangladesh also produces and exports Active Pharmaceutical Ingredients (API). At the moment, around 30 Bangladeshi pharmaceutical companies export medicines to 113 countries in Europe, Asia, Africa, Latin America, and Australia.
As a Least Developed Country (LDC), Bangladesh is free from the obligations to implement patents and data protection for pharmaceutical products until 2033. The Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement, under the World Trade Organisation (WTO), provides this wiver to the LDCs.
About 150 pharmaceutical companies are in operation in Bangladesh. By market share the top 10 pharmaceutical companies are: Square, Incepta, Beximco, Opsonin, Renata, Eskayef, ACI, ACME, Aristopharma and Drug International. There are a number of pharmaceutical MNCs in Bangladesh, such as Sanofi Bangladesh, Novartis etc. But the domestic companies now possess the top positions. The top 10 companies command two-thirds of the market share of the pharmaceutical industry.
Sqaure Pharmaceuticals and Beximco Pharma got the approval of the Food and Drug Administration (FDA) of USA in June, 2015. Incepta Pharmaceuticals is expecting the same opportunity and has already established a separate plant with the intention of exporting medicines to the USA. Other top ranking companies are trying to get the chance to expand the country's export income several times. A good number of companies have already gained and others are in the process of obtaining the approval of UK Medical and Health products Regulatory Agency (UK MHRA), Therapeutic Goods Administration (TGA Australia), and Gulf Central Committee for Drug Registration (GCC - DR).
According to the Export Promotion Bureau (EPB), in the first half of the fiscal year 2015-16 Bangladesh earned $37.9 million (about Tk.3.0 billion) by exporting medicines.
Figure: Annual Growth Rate of Bangladesh Pharmaceutical Industry (2009- 2016: Quarter 3)
There are opportunities for the pharmaceutical companies to flourish. They have got a waiver from TRIPs until 2033 by using which they can increase their annual sales both in domestic and international markets.
Most of the pharmaceutical companies still buy raw materials from abroad to produce medicines which is a barrier on the path of self-reliance and the increasing growth rate of export. The government has undertaken a project to establish an Industrial Park to produce Active Pharmaceutical Ingredients (API). This will help the local manufacturers in reducing expenses, and increasing volume of production and sales. The location of the project is Baushia, Gajaria, Munshiganj and the estimated cost is Tk 4.39 billion (43905 lakh). In this park 42 Pharmaceutical Ingredients Manufacturing Industrial units will be set up. About 25000 people will get employment opportunities.
The pharmaceutical industry is one of the potential sectors of the country.
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