Tareen :
‘ Demand for pharmaceutical products in the domestic market is fast rising and this will increase by the end of 2015. At the same time, we have been able to meet
the Current Good Manufacturing Practices (CGMP) criteria set by the World Health Organization (WHO)’, said Mizanur Rahman Sinha, Managing Director of Acme Laboratories Ltd.
Earlier in 2015, Commerce Minister Tofail Ahmed said in Asia Pharma Expo-2015 that the government is working relentlessly to make the pharmaceutical industry country’s one of the prime export sector.
‘Many nations have expressed their interest to import medicine from Bangladesh. Bangladesh is now exporting medicine to 90 countries of the world. Government is now working to provide policy and infrastructure support to the exporters to take this advantage,’ he said.
In line with the sixth five-year-plan, Government is now contemplating to increase the export of medicine, leather, ship and ICT goods alongside readymade garments, he opined.
Being part of healthcare sector, its performance is related to demographic variables like population growth as well as economic growth and healthcare policy. In our country, with improving demographic characteristics, recent economic growth and favorable
policy, the industry has seen booming rapidly’, said Salim Afzal Shawon, a Management Trainee of IDLC Finance Limited, Bangladesh.
Since 1950s, the pharmaceutical industry flourishing fast in Bangladesh from other developing countries. Presently, the industry meets 97% of local demand and exports to 90 countries of the world.
The industry has been expanding locally and internationally. Locally, firms are preparing themselves for post 2016 scenario, when Trade-Related Aspects of Intellectual Property Rights (TRIPS) will be implemented. All firms are upgrading their facilities and taking precautions for post 2016 scenario and expanding for both local and international markets.
An IDLC research source reveals, being branded generic product oriented business, manufacturers usually are able to charge a premium for established brands, and enjoy a relatively stable market share. As a result, the list of top performing firms have been quite consistent over the years, with the leader, Square pharmaceuticals topping since 1985.
Over the last three years, the top 4 players are consistent, with 5th to 10th position interchanged among 6 market players. As a total, top 5 firms capture on average 45percent of the aggregate market. Adding 5 more to the list brings on an average 66percent of total market to top 10. Thus, the market is very much concentrated.
Prior to formulation of National Drug Policy and Drug Control Ordinance, the market was chiefly controlled by Multi National Companies (MNCs), holding about 75percent of total market (1985). Since then, market structure has changed, and now local firms dominate the industry. At present, 97percent of local demand is met from local production, and the top 10 MNCs possess only 9.05percent of market share, compared to 67.6percent held by local top 10 firms.
The industry is regulated by the guideline of Drug Regulatory Authority (DRA) of Drug Control Ordinance of 1982 and National Drug Policy 2004. Firms are required to upgrade their productive facilities to ensure cGMP is followed. Foreign and MNCs are allowed to manufacture drugs in Bangladesh only if at least three of their original research drug products are registered in at least two of the following countries: USA, UK, Switzerland, Germany, France, Japan, and Australia.
Foreign firms can produce drugs in Bangladesh under licensing agreement following certain conditions. For export purpose only, any drug can be produced in Bangladesh.
Drugs not in regulatory guidelines like, BP, USP, IP, INN or BPC will not be allowed to manufacture in Bangladesh.
‘ Demand for pharmaceutical products in the domestic market is fast rising and this will increase by the end of 2015. At the same time, we have been able to meet
the Current Good Manufacturing Practices (CGMP) criteria set by the World Health Organization (WHO)’, said Mizanur Rahman Sinha, Managing Director of Acme Laboratories Ltd.
Earlier in 2015, Commerce Minister Tofail Ahmed said in Asia Pharma Expo-2015 that the government is working relentlessly to make the pharmaceutical industry country’s one of the prime export sector.
‘Many nations have expressed their interest to import medicine from Bangladesh. Bangladesh is now exporting medicine to 90 countries of the world. Government is now working to provide policy and infrastructure support to the exporters to take this advantage,’ he said.
In line with the sixth five-year-plan, Government is now contemplating to increase the export of medicine, leather, ship and ICT goods alongside readymade garments, he opined.
Being part of healthcare sector, its performance is related to demographic variables like population growth as well as economic growth and healthcare policy. In our country, with improving demographic characteristics, recent economic growth and favorable
policy, the industry has seen booming rapidly’, said Salim Afzal Shawon, a Management Trainee of IDLC Finance Limited, Bangladesh.
Since 1950s, the pharmaceutical industry flourishing fast in Bangladesh from other developing countries. Presently, the industry meets 97% of local demand and exports to 90 countries of the world.
The industry has been expanding locally and internationally. Locally, firms are preparing themselves for post 2016 scenario, when Trade-Related Aspects of Intellectual Property Rights (TRIPS) will be implemented. All firms are upgrading their facilities and taking precautions for post 2016 scenario and expanding for both local and international markets.
An IDLC research source reveals, being branded generic product oriented business, manufacturers usually are able to charge a premium for established brands, and enjoy a relatively stable market share. As a result, the list of top performing firms have been quite consistent over the years, with the leader, Square pharmaceuticals topping since 1985.
Over the last three years, the top 4 players are consistent, with 5th to 10th position interchanged among 6 market players. As a total, top 5 firms capture on average 45percent of the aggregate market. Adding 5 more to the list brings on an average 66percent of total market to top 10. Thus, the market is very much concentrated.
Prior to formulation of National Drug Policy and Drug Control Ordinance, the market was chiefly controlled by Multi National Companies (MNCs), holding about 75percent of total market (1985). Since then, market structure has changed, and now local firms dominate the industry. At present, 97percent of local demand is met from local production, and the top 10 MNCs possess only 9.05percent of market share, compared to 67.6percent held by local top 10 firms.
The industry is regulated by the guideline of Drug Regulatory Authority (DRA) of Drug Control Ordinance of 1982 and National Drug Policy 2004. Firms are required to upgrade their productive facilities to ensure cGMP is followed. Foreign and MNCs are allowed to manufacture drugs in Bangladesh only if at least three of their original research drug products are registered in at least two of the following countries: USA, UK, Switzerland, Germany, France, Japan, and Australia.
Foreign firms can produce drugs in Bangladesh under licensing agreement following certain conditions. For export purpose only, any drug can be produced in Bangladesh.
Drugs not in regulatory guidelines like, BP, USP, IP, INN or BPC will not be allowed to manufacture in Bangladesh.
