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Pharmaceutical Market Statistics in Bangladesh

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Bangladesh Association of Pharmaceutical Industries (BAPI), the stalwart association of pharmaceutical manufacturers of the country was instituted in 1972, Since then BAPI playing a pivotal role in shaping up the industry. Association’s member include large, medium, small, national and foreign companies who together are responsible for manufacturing 96% of the country’s pharmaceutical production. This indeed proves the success of BAPI as a responsible and acceptable body. Prospect of medicine export to CIS countries bright ECONOMIC REPORTER

There is bright prospect of export of standard quality medicines produced in Bangladesh to CIS countries including Uzbekistan and Kazakhstan.

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Both the countries import 90 per cent of medicines from abroad. Besides, there is also immense potentialities to set up joint venture pharmaceutical industries between Bangladesh and the two CIS countries. This was revealed following a visit to both the countries by as delegation of Bangladesh Association of Pharmaceutical Industries (BAPI) led by its adviser SM Shafiuzzaman from June 28 to July 6.

During the visit, the delegation observed that the government should expedite diplomatic activities with the Commonwealth of Independent States (CIS) countries, which achieved independence after breaking apart of the former Soviet Union.

The delegation also was of the view that pharmaceutical products of Bangladesh worth over Tk 100 crore could be exported to the CIS countries in future with proper diplomatic efforts, enhancement of competent manpower in Bangladesh’s embassies and in CIS countries where there was no representation of the country.

The objective of the visit of Bangladesh pharmaceutical delegation to the CIS countries was to explore and expand markets of medicines produced in the country abroad. During its visit, the Bangladesh delegation held talks with Health Minister of Uzbekistan Prof A Ikramov and high officials of his ministry. It was apprised of the health minister that presently Bangladesh exports medicine of international standard to 72 countries.

At the talks, the Uzbek Health Minister showed keen interest to import medicine produced in Bangladesh within the shortest possible time and setting up of joint-venture medicine producing industries with Bangladesh. In this regard, a memorandum of understanding (MOU) was signed between Uzbek State-Joint-Stock Concern-Uzpharmsanoat and BAPI. Later, the Bangladesh pharmaceutical delegation had talks with vice-chairman of the committee on health and medicine affairs of health ministry of Kazaksthan and other high officials.

The delegation apprised of the Kazakh officials in details about the pharmaceutical industry of Bangladesh. Besides, the delegation had separate rounds of fruitful talks with Pharmaceutical Importers Association and Manufacturers Association and large-scale importers of both the countries. A number of Memoranda of Understanding (MOU) also were signed between different pharmaceutical companies of the country and established importing companies of both the countries. Bangladesh Ambassador in Tashkent Hasib Aziz extended all sorts of cooperation to the Bangladesh delegation during the visit.

BAPI secretary general and managing director of Incepta Pharmaceuticals Ltd Abdul Muktadir, vice-president and managing director Medimet Pharmaceuticals Ltd Khondokar Tariq-ul-Islam, director of the drug administration directorate Md Ismail Hossain, director (planning and commercial) of Incepta Pharmaceuticals Ltd Ms Akhter Jahan Hasnin Muktadir, BAPI executive committee member and managing director of Edruc Ltd Feroz Uddin Khan, BAPI executive committee member and executive director of Healthcare Pharmaceuticals Ltd Md Halimuzzaman, BAPI member and director (marketing) of Biopharma Laboratories Ltd Dr Liaquat Ullah and business development manager Md Sami Akhter and director of the Export Promotion Bureau Omar Faruque were the other members of the Bangladesh pharmaceutical delegation, according to a press release of BAPI.

Cite this Pharmaceutical Market Statistics in Bangladesh

Pharmaceutical Market Statistics in Bangladesh. (2016, Nov 13). Retrieved from https://graduateway.com/pharmaceutical-market-statistics-in-bangladesh/

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