Medicine production relies on 400 different Active Pharmaceutical Ingredients (APIs), but currently, only 21 companies in the country manufacture 41 of these essential components. As a result, pharmaceutical firms are forced to import approximately 80 percent of the APIs needed for drug production.
The Bangladesh Association of Pharmaceutical Industries has stated that the strong dependence on imported APIs is making it more difficult to lower medicine prices and expand into international export markets.
These issues were highlighted at a workshop held yesterday at the office of the Bangladesh Association of Pharmaceutical Industries (Bapi) office in Tejgaon, Dhaka. The event was organized in collaboration with the Bangladesh Health Reporters Forum.
Speakers at the event included Dr. Md. Zakir Hossain, Managing Director of Delta Pharma Ltd; Md Halimuzzaman, CEO of Healthcare Pharmaceuticals Ltd; M Mohibuz Zaman, managing director and CEO of ACI Healthcare; Rashed Rabbi, President of the Health Reporters Forum; and it’s General Secretary, Mainul Hasan Sohel, among others.
During the event, Md Halimuzzaman stated that at present, a total of 307 pharmaceutical companies, both large and small, are operating in the country. Medicines produced by Bangladeshi pharmaceutical companies are exported to more than 150 countries.
He added, “Last year, the pharmaceutical market was valued at $2.92 billion, and it is projected to reach $6.17 billion within the next five years. These companies currently meet 98% of the domestic demand for medicines. However, the limited production of APIs within the country poses a challenge for Bangladesh in competing with international pharmaceutical firms.”
M. Mohibuzzaman, CEO of ACI Healthcare, said, “Bangladesh’s pharmaceutical sector has received various privileges and exemptions as a result of the country’s classification as a Least Developed Country (LDC). However, these benefits will no longer be available once Bangladesh attains middle-income country status. At that point, companies will have to purchase APIs from originator (parent) companies at their set prices, which will affect the domestic market and potentially increase medicine prices. Therefore, it is crucial to focus on local API production to reduce import dependency.”
He also emphasized that the medicines manufactured for the domestic market maintain the same quality standards as those produced for export.
Dr. Md. Zakir Hossain, Managing Director of Delta Pharma, described the pharmaceutical industry as one of the fastest-growing and most important sectors in the country.
He added, “At the pharmaceutical industrial park in Gazaria of Munshiganj , 42 plots have been allocated to 27 companies. Of these, 15 companies are set to begin production there, while the rest may merge with these firms.”
He pointed out that API production requires approvals from four separate agencies, and the industry has repeatedly requested a one-stop service system. However, the government has yet to take any initiative in this regard.
Bd-pratidin English/ Afia
