Bangladesh Pharmaceutical Sector: Present and Potential
The Drug Act of 1940 and its rules formed the basis of the country’s drug legislation. Unani, ayurvedic, homeopathic and biochemic medicines were exempted from control under the legislation. The DDA also monitors the quality of marketed drugs through an agency called the Drug Testing Laboratory. After Effect of Drug Policy of 1982. Following the Drug (Control) Ordinance of 1982, some of the local pharmaceutical companies improved range and quality of their products considerably. The national companies account for more than 65% of the pharmaceutical business in Bangladesh. However, among the top 20 companies of Bangladesh, 6 are multinationals. Almost all the life saving imported products and new innovative molecules are channeled into and marketed in Bangladesh through these companies. Multinational and large national companies generally follow current good manufacturing practices (GMP) including rigorous quality control of their products. Foreign companies dominated the pharmaceutical industry at that time. Even in the allopathic market there were extemporaneous preparations dispensed from retail pharmacies.
INTRODUCTION
According to a working document of International Trade Center (UNCTAD/WTO), Bangladesh market size for pharmaceuticals and natural products was US$ 517 million and the total herbal medicine was about US$ 50 million in 2004. Local companies satisfied 95% of domestic demand with a 10% contribution from multinational companies. The number of companies was subdivided into pharmaceutical units (232), ayurvedic, homeopathic, biochemic units (308), and herbal and unani-related units (295). The pharmaceutical sector was the second largest sector (after agriculture) in terms of national revenue. Employment in the sector was about 75,000. The value of export for essential drugs was US$ 3.1 million and natural ingredients US$ 48 thousand. It exported drugs to over 50 countries in the world, but... [continues]
The Drug Act of 1940 and its rules formed the basis of the country’s drug legislation. Unani, ayurvedic, homeopathic and biochemic medicines were exempted from control under the legislation. The DDA also monitors the quality of marketed drugs through an agency called the Drug Testing Laboratory. After Effect of Drug Policy of 1982. Following the Drug (Control) Ordinance of 1982, some of the local pharmaceutical companies improved range and quality of their products considerably. The national companies account for more than 65% of the pharmaceutical business in Bangladesh. However, among the top 20 companies of Bangladesh, 6 are multinationals. Almost all the life saving imported products and new innovative molecules are channeled into and marketed in Bangladesh through these companies. Multinational and large national companies generally follow current good manufacturing practices (GMP) including rigorous quality control of their products. Foreign companies dominated the pharmaceutical industry at that time. Even in the allopathic market there were extemporaneous preparations dispensed from retail pharmacies.
INTRODUCTION
According to a working document of International Trade Center (UNCTAD/WTO), Bangladesh market size for pharmaceuticals and natural products was US$ 517 million and the total herbal medicine was about US$ 50 million in 2004. Local companies satisfied 95% of domestic demand with a 10% contribution from multinational companies. The number of companies was subdivided into pharmaceutical units (232), ayurvedic, homeopathic, biochemic units (308), and herbal and unani-related units (295). The pharmaceutical sector was the second largest sector (after agriculture) in terms of national revenue. Employment in the sector was about 75,000. The value of export for essential drugs was US$ 3.1 million and natural ingredients US$ 48 thousand. It exported drugs to over 50 countries in the world, but... [continues]
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