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শনিবার, ২৩ অক্টোবর ২০২১, ০৮:৪৮ অপরাহ্ন

Amazing development in the pharmaceutical industry

Amazing development in the pharmaceutical industry of Bangladesh
Amazing development in the pharmaceutical industry of Bangladesh

Amazing development in the pharmaceutical industry of Bangladesh. In the 50 years of independence, the pharmaceutical industry has developed wonderfully in Bangladesh. Despite mismanagement in the medical sector, Bangladesh has made unimaginable progress in the production and export of medicines through private sector initiatives. In the post-independence period, where the dependence on foreign medicines was almost 100 percent, after 50 years, Bangladeshi medicines are being exported to 147 countries of the world. Bangladesh is now one of the world’s leading manufacturers of life-saving drugs. Not only general, Bangladeshi companies are now making various types of complex and international standard drugs including vaccines, heart and cancer drugs, insulin. So far, at least 14 companies have been registered in different countries.

This has paved the way for the export of large quantities of medicines to those countries. Local pharmaceutical companies account for 98 percent of the country’s drug market worth about Tk 25,000 crore. Medicines worth Tk 1,500 crore are being exported every year to meet the demand of almost 17 crore people in this country. Entrepreneurs say that the demand for Bangladeshi medicines is increasing in the world market due to the relatively affordable prices and quality of medicines. At present, the pharmaceutical market in Bangladesh is growing at an average rate of 15 percent. Entrepreneurs in the sector believe that if growth continues, it will be possible to capture at least 5 percent of the world’s pharmaceutical trade in the next 10 years.

Although there is a lot of controversy about the medical system of the country, the reputation of the pharmaceutical industry is all over the world. Due to its quality and effectiveness, Bangladeshi medicines have spread in the world market. Bangladesh’s medicine is the most advanced among 48 countries in the underdeveloped world. The factories of 257 companies of the country are producing 24,000 brands of medicines every year. This industry employs about 2 lakh people. With this information, the people involved in the pharmaceutical industry said that they want to accelerate this progress. Bangladesh is making hepatitis C medicine with cancer medicine.

According to the Pharmaceutical Industry Association, 1,200 types of drugs have been approved for export in the last two years. The top seven countries in export are Myanmar, Sri Lanka, Philippines, Vietnam, Afghanistan, Kenya and Slovenia. 60 percent of the total drug exports are going to these countries. The remaining 40 percent is exported to other countries. Beximco Pharma is at the top of exports. Incepta and Square Pharmaceuticals Limited are in the second and third position.

The list of drug exports includes Beximco, Square, Incepta, Acme Laboratories, Aristopharma, Reneta Limited, SKF Pharma, ACI Limited, Popular Pharma, Popular Infusion, Bio Pharma, Opsonin, Beacon Pharma, Beacon Pharma, Drugs International, Healthcare Pharma, Orion Pharma, Jason Pharma, Navana, General Pharma, Delta Pharma, Glascow, Ibn Sina, Radiant, Novo Healthcare Pharma, Nipro JMI, EDCL Limited, Amico Laboratories, Globe Pharmaceuticals, Techno Drugs, Ziska Pharmaceuticals. It is learned that various types of medicines including tablets, capsules, injections and inhalers made in Bangladesh are being exported. However, the drugs are being used abroad under generic names.

According to the concerned, the pharmaceutical policy of 1982 has played a big role in the rapid progress of the pharmaceutical industry in Bangladesh. In addition, the government has begun to gain recognition in the world for providing various benefits to the pharmaceutical industry. There are many graduate pharmacists in Bangladesh. A large part of them are working in the pharmaceutical industry whereas many countries in the world do not have graduate pharmacists.

News Source: https://www.bd-pratidin.com/first-page/2021/03/28/632977

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