The recent developments of this sector has enabled Bangladesh to export medicines to global markets including the European market. This sector is also providing 95 per cent of the total medicine requirement of the local market. Pharma leaders in the country are beefing up their business activities with the aim to expand export market. Recently a few new industries have also been established with hi-tech equipment and professionals which will enhance the strength of this sector.
Having more than a couple of hundred manufacturing facilities with huge potential in pharmaceutical formulations, Bangladesh is treading on a new path of industry economics for self-reliance. With a view to minimizing the import dependency on basic drugs, the country is building up its own capability in the manufacturing of active pharmaceutical ingredients(APIs), base materials and other allied industry inputs.
In the last two decades,pharmaceutical industry in Bangladesh has grown at a considerable rate. This has also supported the development of auxiliary industries for producing glass bottles, plastic containers, aluminium collapsible tubes, aluminium PP caps, infusion sets, disposable syringes, and corrugated cartons. Some of these products are also being exported. Printing and packaging industries and even the advertising agencies consider pharmaceutical industry as their major clients and a key driving force for their growth.
The pharma sector has created job opportunities for highly qualified people. Many of the leading entrepreneurs of today had started with pharmaceutical companies in the country. Pharmaceutical...