Pharmaceutical Opportunities in Bangladesh

Topics: Pharmacology, International trade, Pharmaceutical industry Pages: 6 (2766 words) Published: June 12, 2014
Sector briefing

Pharmaceutical Opportunities in
Bangladesh.

WHY BANGLADESH?
Pharmaceutical is one of the highest priority
sectors in Bangladesh. With an annual twodigit growth rate the Bangladesh pharmaceutical industry is now heading
towards self – sufficiency in meeting local
demand. With over US$250 million investments
in the pharmaceutical industry of Bangladesh
the sector has emerged as the country’s most
developed hi-tech one that contributes
significantly to the national economy. There
are more than 240 small, medium, large and
multinational companies operating in the
country producing around 97% of the total
demand. The sector is the second highest
contributor to the national ex-chequer after
tobacco and it is the largest white-collar
intensive employment sector in Bangladesh.
More than 95% of the total demand of
Bangladesh is being met by local
manufacturing. The remaining 5% basically
constitute import of much specialised products
like vaccines, anti-cancer products and
hormone drugs.
The country can continue to produce patented
products until 2016 as per trade related
intellectual property rights (TRIPS). The
industry is legally permitted to reverse

engineer, manufacture and sell generic
versions of on-patent pharmaceutical products
for domestic consumption as well as for export
to other least Developed Countries (LDCs). It
created a big opportunity to make Bangladesh
a new chemical entity. Bangladesh can share
its long years of experience in pharmaceutical
formulation and marketing with the LDCs and
developing ones, who need it. Among the 50
LDCs, Bangladesh has the strongest base to
manufacture pharmaceutical products.

Over $300 million invested in the
sector, has helped modernise and
create new facilities. A good
number of skilled professionals
from
home
and
abroad
are
expected to join the industry to
enrich its human resources pool

UK Trade & Investment Sector briefing: Pharmaceutical opportunities in Bangladesh

Opportunities
Raw Material & Machinery Souring
Bangladesh imports 80 per cent of its
pharmaceutical raw materials. A good number
of skilled professionals from home and abroad
are expected to join the industry to enrich its
human resources pool. The pharmaceutical
manufacturers in Bangladesh procure raw
materials from various countries namely USA,
UK, France, Germany, Japan, Holland, Italy,
Denmark, China, Switzerland, Austria,
Hungary, India, Ireland etc.
Most of the machinery comes from Germany
and China. Some of the bigger companies are
using machinery from UK.
Toll Manufacturing
Bangladesh has a very strong manufacturing
base in pharmaceuticals “toll manufacturing” of
current products as a number of companies
have already constructed facilities as per
USFDA and UKMHRA Standard and are seeking
certification in other regulated markets. After
gaining the UK MHRA Certification Square
Pharmaceutical, one of Bangladesh's leading
pharmaceutical industries is now
manufacturing cardiovascular drugs and
diuretics for overseas clients. A good number
of Bangladeshi companies have won
accreditation for export from the regulatory
authorities in some developed countries. The
accreditation will allow them to enter the
export market with their competitive prices and
standards.
Investment opportunity
During last couple of years a good number of
investments have taken place in the
pharmaceutical sector in the form of facility
expansion/upgrading and new entrants. It is
estimated that a total investment of US$ 300
million has been made in this sector in last few
years. Bangladesh is also a large market for
Active Pharmaceutical Ingredients (API) and
intermediates. Although Bangladesh is meeting
97% of the countries demand by local
production it still depends largely on imported
bulk drugs. Around 80% of Bangladesh's total
need of API is being met through imports.
a. Bulk Drug Manufacturing

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