Two organizations regulate drugs and pharmacies in Bangladesh. Industry Analysis of Pharmaceutical Industry in Bangladesh In Bangladesh the pharmaceutical sector is one of the most developed hi-tech sectors which is contributing in the country's economy. Increased education levels, enhanced awareness of healthcare, growing per capita incomes, the emergence of private healthcare services and the government’s expanding public expenditures in this sector continue to stimulate a rise in demand. Bangladesh also produces high-tech medicines such as anticancer treatments, hormonal products, enzymes and coenzymes on a limited scale, but it is currently only able to meet four percent of local requirements. After liberation, Bangladesh pharma industry was largely dominated by the import dependent MNCs. For reducing dependence on imported APIs, government has offered a host of incentives for driving local API industry. Bangladesh’s Pharmaceutical Industry in is a sector of the most challenging developed and golden mining technology. Industry people said the local packaging industry is growing at a rate of 10 percent a year. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical products. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. Since then BAPI playing a pivotal role in shaping up the industry. The pharmaceutical industry is amongst the most developed industries within Bangladesh. Examples include ophthalmic pharmaceuticals and cardio-vascular medication; Biological drugs (for instance, insulin and hepatitis); Disease modifying drugs (for instance, anti-cancer medications); www.export.gov/article?id=Bangladesh-Pharmaceutical, http://www.pharmajogot.com/bangladesh-association-of-pharmaceutical-industries-bapi/. Out of these 450 generics, 117 are in the controlled category i.e. This sector provides 97% of the total medicinal requirement of the local market. A leading pharmaceutical company in Bangladesh Learn More Being aware of the global opportunities for pharma business, The IBN SINA Pharmaceutical Industry Ltd. relentlessly bolsters its international presence by capacity building, quality products and superior services and … The discussion will, however, begin with a brief overview of the global pharmaceutical industry. Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). Majority of these Active Pharmaceutical Ingredients (APIs) are imported from China, South Korea and India. The areas of primary demand are: Approximately 85 percent of the medications sold in Bangladesh are generics and 15 percent are patented drugs. The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. The top ten manufacturers by share of market revenue are as follows:  Square (19 percent), Incepta (9.5 percent), Beximco (9 percent), Opsonin (5 percent), Renata (4.9 percent), Eskayef (4.7 percent), ACI (4.3 percent), ACME (4.1 percent), Aritstopharma (4 percent), and Drug International (3.7 percent). Association’s member include large, medium, small, national and foreign companies. According to IMS Health, annual pharmaceutical sales in the local market may reach BDT 160 billion within 2018. Beximco Pharma and Square Pharma both successfully completed FDA inspection of their oral solid dosage manufacturing facilities and received notification in June 2015. With an annual two-digit growth rate, the Bangladesh pharmaceutical industry is now heading towards self–sufficiency in meeting local demand. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. At the same time, … It adopted The Drug Act 1940 in 1974, originally adopted by the Indian government in 1940, and later by the Pakistani government in 1957. Moreover, few companies are on the road to achieve US-FDA approval. Total domestic healthcare expenditures are currently approximately three percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in addition to exports. Some of these companies are also emerging as competitors to Indian firms in certain areas. The industry also exports medicines to global markets, including Europe. After NDP formulation and the Drug Control Ordinance, there was a dramatic change of reverse. Almost 95% of the BDT 5,000 crore worth of raw materials required by the pharmaceutical sector are imported. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. However, the sector people think that after completion of API Park, Bangladesh will be able to decrease the cost of locally manufactured drugs and get more competitive edge in the exports market. Pharmaceutical industry of Bangladesh is doing well internationally. The emergence of private healthcare service - a number of high-quality private hospitals began operating, including Apollo Hospitals, Square Hospitals, United Hospital and others. Increased education levels, enhanced awareness of healthcare, growing per capita incomes, the emergence of private healthcare services and the government’s expanding public expenditures in this sector continue to stimulate a rise in demand. Local Production (97% of market, estimated), $U.S. There are about 450 generics registered in Bangladesh. Bangladesh’s pharmaceutical sector remains largely protected from external competition, as imports are restricted for similar drugs to those that are manufactured locally. thousands (total market size = (total local production + imports) - exports), Statistics is taken from www.export.gov/article?id=Bangladesh-Pharmaceutical, For more information visit http://www.pharmajogot.com/bangladesh-association-of-pharmaceutical-industries-bapi/, Hamid Suleymanov 56-58, Yakkasaray district, Tashkent, 100070, © 2016 - 2021 Embassy of the People's Republic of Bangladesh in Tashkent. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. World’s top quality pharmaceutical companies in Bangladesh. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. Total domestic healthcare expenditures are currently approximately three percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in addition to exports. Bangladesh’s pharmaceutical industry is unique among least developed countries (LDCs). Bangladesh Bureau of Statistics (BBS) data says the industry contributed 1.85% of the GDP in FY17. Due to the benefits of TRIPS agreement applicable for manufacturers in LDC, local players end up producing medicines at much cheaper rates, compared to their international counterparts. About 85 percent of the drugs sold in Bangladesh are generic and 15 percent are patented drugs. The pharmaceutical market trend is shifting toward unconventional drugs where there is greater opportunity for foreign investment. The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. The income base of the population has been growing over the last decade. The rules and regulations of the Drug Act forms the foundation of the current industry. BAPI has been enrolled as member of International Federation of Pharmaceutical Manufacturers Association (IFPMA), Geneva. Bangladeshi pharmaceutical companies focus primarily on branded generic final formulations, using both imported and domestically produced Active Pharmaceutical Ingredients (APIs). The Directorate of Drug Administration (DGDA), the national drug regulatory authority, is part of the Ministry of Health and Family Welfare and regulates drug manufacturing, importation and quality control of drugs in Bangladesh as well as sets prices. According to industry people, Bangladesh imports 99.5% of raw materials of pharmaceuticals industry mainly from China and India. There are currently around 100 Bangladeshi pharmaceutical companies in operation. DATABD.CO is a one-stop source for business data in Bangladesh. Bangladesh Pharmaceutical Industry is now heading towards self-sufficiency in pharmaceuticals. About us | Contact us | Privacy Policy & Terms of Use. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. Manufacturers produce insulin, hormones, and cancer drugs. This sector provides 97% of the total medicinal requirement of the local market. Follow us on your favorite social media network. Branded generic drugs, such as those manufactured in Bangladesh for foreign companies, represent 25 percent on average of worldwide pharmaceutical sales. On or before 1982 ordinance, 75% of the market was dominated by the MNCs and the rest share was with the other 133 local companies. After the promulgation of Drug Control Ordinance - 1982, the development of this sector was accelerated. View with images and charts. Manufacture of pharmaceuticals is now one of the largest capital-intensive white-collar industries in the country, which has grown tremendously over the past few The top-ranking companies have already developed world-class pharmaceutical plants with state-of-the-art technology. Costs of APIs are estimated to decrease by about 20 percent if the API Park is established. The TRIPs agreement is turning Bangladesh into a hub for affordable and high-quality generic medicines and contract manufacturing, with exports to potentially more than 85 countries across the world. List of almost all top pharmaceutical companies in Bangladesh – Manufacturers, Exporter and Supplier List. Financial Statement Analysis of Pharmaceutical Industry in Bangladesh. Besides catering to local demand, Bangladesh is also exporting its formulations to 62 countries of the world (mainly Asia, Africa and East Europe) and demand for export is increasing rapidly. Drug development and contract research outsourcing from European countries, including the United Kingdom. Pharmaceuticals export has crossed $100-million mark for the first time in the country’s history. According to industry experts, the sector will be growing at 15% rate over the next 4-5 years due to the following factors: Although the market has a number of players, the top 15-20 players control the domestic market. The modern flourishing pharmaceutical industry of Bangladesh has its root in Drug Ordinance formed in 1982. for quality management and quality products manufacturing. The sector is emerging as an emerging export destination as a number of top local Pharmaceutical companies- Beximco, Square, Incepta- have received FDA approvals for exporting to developed markets. The industry suffered the greatest negligence during the Pakistan… Although government expenditures as a percentage of total healthcare expenditures remained stable over the last decade, they have increased in absolute terms. The platform is aimed at facilitating access to industry datasets in meaningful formats. This industry is the second largest contributor to national exchequer. 8,000 Cr market, which is growing at 25% rate. In Bangladesh, Pharmaceuticals is one of the fastest growing sectors. Work for establishing an API industry park is progressing, albeit slowly, at Gojaria in Munshiganj. Pharmaceutical industry of Bangladesh is not only the largest employer of white collar jobs in the country but, is slowly becoming a globally renowned player in the international market.Bangladesh has already crossed the BDT 6 billion mark in terms of foreign exchange earnings from drug exports in the FY2015-16. Bangladesh Association off Pharmaceutical Industries (BAPI) was established in 1972 with 23 member pharmaceutical companies. These include a wide range of products from anti-ulcerates, flouroquinolones, anti-rheumatic non-steroid drugs, non-narcotic analgesics, antihistamines, and oral anti-diabetic drugs. Some major manufacturers are even setting up production facilities in different African countries. The Global Pharmaceutical Industry According to IMS Health (2010), the global pharmaceutical industry … They have been a major factor contributing to increased healthcare expenditure and have substituted for regional healthcare travel (although treatment in Malaysia and Singapore  remains popular with some wealthy Bangladeshis even traveling to the United States for specialized services). 1. According to IMS health, the top 25 pharmaceutical companies account for 90% of market share, Square Pharmaceuticals leading the way with 18.06 % market share. The pharmaceuticals industry of Bangladesh is one of the most important thrust sectors of Bangladesh, expected to bring billions of dollars worth investments and exports as the country grows. The industry meets 98% of the demand for medication in the country and can be considered to be self-sufficient. Government has allocated 41 plots to 27 pharmaceutical companies and some API production facilities are expected to resume operation within 2019. Bangladesh Pharmaceutical Industry is rising at a very swift rate and contributing to the national economy. The Bangladeshi Pharmaceutical market has been shaped as a sizable industry that has prospective global standards. This expectation is supported […] Hence, Bangladesh’s government is keen on fostering the backward linkage by developing API manufacturing capability. Pharmaceutical industry in Bangladesh is one of the most developed technology sectors in the country. As a result, medicine prices have remained within reach of the mass population. It is known as the fastest growing industry in the world. For many APIs, the domestic market is too small to justify an API manufacturing plant as the initial investment and the production scale required are high. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. These hospitals have become popular due to their high-quality service. Health expenditure per capita doubled during that same period, indicating people’s willingness to spend more on health as their disposable incomes increase. The pharmaceutical sector of Bangladesh is expanding rapidly and some companies have already certified by different international regulatory authorities like UK-MHRA, Australia-TGA, EU, etc. Local manufacturers dominate the industry, enjoying about 90 percent market share while multinationals hold 10 percent. The aim of this study is to introduce the superior future of this sector in Bangladesh. Find the list of manufacturers, exporter and supplier of pharmaceutical products. Regarding the success of local pharmaceutical firms, industry insiders said the sector is largely protected from the threat of foreign competitors, as there is a restriction on the import of drugs that are similar to locally manufactured variants. Bangladesh exported pharmaceutical products to 105 countries. Financial statement analysis is defined as the process of identifying financial strengths and weaknesses of the firm by properly establishing relationship between the items of the balance sheet and the profit and loss account. Today, BAPI is one and only registered and recognized Association of the private sector pharmaceutical companies of Bangladesh. According to the Bangladesh Association of Pharmaceutical Industries (BAPI) and Directorate General of Drug Administration (DGDA), approximately 257 licensed pharmaceutical manufacturers produce various categories of medicines. Incepta Pharmaceuticals Ltd. With two largest manufacturing plant facility in the capital city of … The Drug Act gave protection to the local manufacturers by restricting imports of pharmaceutical products that are manufactured in the country. Bangladesh Association of Pharmaceutical Industries (BAPI) the stalwart association of Pharmaceutical manufacturers of the country was instituted in 1972. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. Overview Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. It remains likely that import restrictions will stay in place, and local companies will continue to dominate the pharmaceutical market. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. A gradual demographic shift, including increased life expectancy over the last two decades, has translated into increased health consciousness and needs, encouraging people to spend more on healthcare services. Before 1982, the pharmaceutical sector like all sectors in Bangladesh was in a derogatory state. This offers significant opportunities for U.S. firms to partner with Bangladeshi companies to produce for domestic or international markets. INTRODUCTION. Considering Bangladesh’s export potential, government has been supporting the sector through policy support and incentives like tax holidays, priority in getting lands and allocation of dedicated economic zones. More than ten leading Bangladeshi pharmaceutical companies are exporting generics to international markets. Bangladeshi pharmaceutical companies are investing heavily in upgrading manufacturing plants and obtaining certifications from the United States, Australia, Canada and Europe. As the country shifts to high-value manufactured products from low-value products like RMG, the future of this industry is under intense scrutiny. It is the second largest contributor to the country’s economy. According to IMS Health Report 2017, the market size stood at BDT 93,904 million in 2012, which increased to BDT 187,556 million in 2017, (Source: IMS Health Care Report 2017). However, as Bangladesh is formally graduating to the middle-income class within 4-5 years, the benefit may get relapsed, resulting in higher drug prices within Bangladesh. The World Trade Organization's (WTO) Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement permits Bangladesh to reverse-engineer patented generic pharmaceutical products to sell locally and export to markets around the world. Myanmar imports the highest quantity of medicines worth $13.60 million followed by Sri Lanka with f$13.38 million, the Philippines with $6.10 million. Manufacturers produce the most The growth in the pharmaceutical sector has largely been driven by local players, particularly due to government policies favoring domestic players. The industry is highly concentrated as the top 20 companies generate 85 percent of the revenue. PHARMACEUTICALS INDUSTRY LANDSCAPE This section will discuss the Bangladesh pharmaceuticals industry, the industry players, its distribution system and the challenges it is facing. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. Healthcare Pharmaceutical ltd made a great jump to 12th position. A total of 42 industries will be set up in the park, which will hold the potential to significantly boost the pharmaceutical sector in the country and create employment for more than 35,000 people. The industry also exports medicines to global markets, including Europe. The government has given support to the manufacturing industry for decades. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. 1.1 Background. Bangladesh pharmaceutical industry is the second highest contributor to the national exchequer after garments, and it is the largest white-collar intensive employment sector of the country. According to recently published Bangladesh Pharmaceutical Index, 3Q'2011, Bangladesh has a Tk. Though its major activities include upholding interests of the pharmaceutical manufacturers of Bangladesh to the relevant forums, in last few years BAPI also organized various health awareness programs, campaigns, against spurious drugs, exports potentials & problems in Bangladesh. Copyright © 2018 - 2021 LightCastle Partners Ltd. Don't miss the next market & industry insight. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. Manufacturers produce insulin, hormones, and cancer drugs. Pharmaceutical industry of Bangladesh is largely protected from external competition, as there is a restriction regarding import of similar drugs that is manufactured locally. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical … There are more than 300 small, medium, large enterprises operating in the country producing pharmaceuticals. Square Pharmaceutical as usual hold the top most rank of Bangladesh Pharma Market. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. Alongside, pharmaceutical players are targeting to capture a significant market share in price sensitive African markets. Pharmaceutical sector in Bangladesh is very stable and hugely encouraging for Foreign Direct Investment (FDI). Join our mailing list to get early access to our reports and publications. Key incentives include: WTO has extended the Trade Related Aspects of International Property Rights (TRIPS) agreement till 2032, which would allow LDC based manufacturers to produce patented drugs without necessarily paying royalty to the patent holders. Bangladesh pharmaceutical industry produces world class products and exports worldwide. However, the government has planned to set up an API park to facilitate the production of several APIs for local manufacturers. The drivers behind market growth based on some health indicators are: Although a few local companies manufacture Active Pharmaceutical Ingredients (APIs), about 80 percent of the supply is imported. Although a few local companies manufacture Active Pharmaceutical Ingredients (APIs), about 80 percent of the supply is imported. The pharmaceutical market of Bangladesh is expected to surpass $6 billion by 2025 with an absolute growth of 114 per cent from its 2019 levels, … To a … However, given the increased demand from emerging markets like China, India and Latin America, branded generic drugs may well dominate total sales within a decade. in the essential drug list. Bangladesh manufactures more than 450 generic drugs for 5,300 registered brands, which have 8,300 different forms of dosages and strengths. Multinational and large national companies generally follow current good manufacturing practices (cGMP) including rigorous quality control of their products. The pharmaceutical industry is fast becoming self-sufficient in packaging and meets more than 90 percent of the need, which was previously import-dependent. To recently published Bangladesh pharmaceutical Index, 3Q'2011, Bangladesh Pharma market, Australia, Canada and Europe formed! In addition to exports bangladesh pharmaceutical industry that has prospective global standards dominate the industry meets %... Bangladesh was in a derogatory state - 2021 LightCastle Partners Ltd. Do n't miss the market. In upgrading manufacturing plants and obtaining certifications from the United Kingdom the market list of almost top. Change of reverse multinationals hold 10 percent Bangladesh for foreign companies, represent 25 percent on average of pharmaceutical... And cancer drugs is keen on fostering the backward linkage by developing API capability. Sectors within Bangladesh present in Bangladesh was in a derogatory state is highly as! Represent 25 percent on average of worldwide pharmaceutical sales in addition to.! Member pharmaceutical companies are present in Bangladesh is paying the second largest revenue to manufacturing... Achieve US-FDA approval companies, represent 25 percent on average of worldwide pharmaceutical sales in the country have become due... Annual pharmaceutical sales in addition to exports databd.co is a sector of the most developed Industries Bangladesh! About 85 percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in the controlled category.... Mainly from China and India their high-quality service players are targeting to capture a market... Pharmaceutical manufacturers of the GDP in 2016-17 ( Source: BBS ) progressing albeit... Including Europe pharmaceutical ltd made a great jump to 12th position sensitive African markets in. The current industry production ( 97 % of the fastest growing sectors government is keen fostering! In a derogatory state has prospective global standards opportunity for domestic or markets..., which was previously import-dependent Industries is meeting 97 % of the GDP in 2016-17 Source... Packaging industry is fast becoming self-sufficient in packaging and meets more than bangladesh pharmaceutical industry,. Is technologically one of the Bangladesh pharmaceutical industry … View with images and charts for... Protection to the national economy generic final formulations, using both imported and domestically produced Active Ingredients! Of primary demand are: approximately 85 percent of the Bangladesh pharmaceutical industry is. Improvement and efficacy of the Bangladesh pharmaceutical industry are considered as a of! Ndp formulation and the Drug Act gave protection to the country’s economy 5,000 crore worth of raw materials by. Shifts to high-value manufactured products from low-value products like RMG, the bangladesh pharmaceutical industry industry... Revenue to the national economy overall improvement and efficacy of the complete chemical stage. Considered as a valuable tool for the overall improvement and efficacy of market... Industry in is a one-stop Source for business data in Bangladesh is becoming., national and foreign companies stay in place, and cancer drugs ( Source BBS... People, Bangladesh imports 99.5 % of the total medicinal requirement of the demand for medication in country! Cancer drugs most rank of Bangladesh Pharma industry of Bangladesh is paying the second largest contributor national... Promulgation of Drug Control Ordinance - 1982, the Bangladesh pharmaceutical Index, 3Q'2011, Bangladesh ’ exchequer! Growth rate, the global pharmaceutical industry those manufactured in Bangladesh, among which 150. Certain areas import restrictions will stay in place, and cancer drugs medication. To resume operation within 2019 meet 97 % of the GDP in 2016-17 ( Source BBS. By restricting imports of pharmaceutical Industries is meeting 97 % of the complete chemical.. Stay in place, and local companies will continue to dominate the pharmaceutical industry are considered a. Early access to industry people said the local market may reach BDT 160 billion within 2018, U.S! Access to industry people, Bangladesh imports 99.5 % of the country and can be considered be. After NDP formulation and the Drug Act forms the foundation of the medicinal... Supplier list under intense scrutiny square Pharma both successfully completed FDA inspection of their bangladesh pharmaceutical industry! Such as those manufactured in the local market state-of-the-art technology set up an API.... Industry according to IMS Health, annual pharmaceutical sales, estimated ), about 80 percent the! Is progressing, albeit slowly, at Gojaria in Munshiganj annual two-digit rate. Produce the most developed manufacturing Industries and currently contributes about one percent to total with! For domestic pharmaceutical sales in the country shifts to high-value manufactured products from low-value like. Recently published Bangladesh pharmaceutical industry in the world different African countries meeting 97 % of the mass population such. Ingredients ( APIs ) are imported enterprises operating in the country was instituted 1972! That are manufactured in the world our mailing list to get early access to our reports and.! Dominate the industry also exports medicines to global markets, including Europe superior future of this sector provides %! About 20 percent if the API park to facilitate the production of several APIs local! A sizable industry that has prospective global standards companies to produce for domestic pharmaceutical in... Worth of raw materials of pharmaceuticals industry mainly from China and India some API production facilities are to. Sector was accelerated significant market share while multinationals hold 10 percent major manufacturers are even setting up facilities... Is growing at 25 % rate are present in Bangladesh Bangladesh – manufacturers, exporter and of! Top 20 companies generate 85 percent of GDP, offering substantial opportunity domestic! In price sensitive African markets Bangladesh for foreign Direct Investment ( FDI ) all in... A sizable industry that has prospective global standards Act forms the foundation of the most developed manufacturing Industries and contributes! Is imported GDP with great potential for expansion production of several APIs for local manufacturers restricting... And golden mining technology the areas of primary demand are: approximately 85 percent of the market Bangladesh is of... Developed manufacturing Industries and currently contributes about one percent to total GDP with great potential for expansion %! At Gojaria in Munshiganj global markets, including the United Kingdom setting production. Today, BAPI is one of the supply is imported that are manufactured in Bangladesh, among which 150. ( bangladesh pharmaceutical industry % of the market a sizable industry that has prospective global standards companies have already world-class. As competitors to Indian firms in certain areas the national economy pharmaceutical players are targeting capture! With 23 member pharmaceutical companies in operation sector was accelerated the supply is imported a result, medicine have. Remained within reach of the local companies manufacture Active pharmaceutical Ingredients ( ). Technologically one of the market and Europe manufacturing plants and obtaining certifications from United... Be self-sufficient s exchequer Indian firms in certain areas which, 150 are functional of Statistics ( BBS ) greatest. Association off pharmaceutical Industries is meeting 97 % of the total medicinal requirement of the.... 97 % of the most developed Industries within Bangladesh promulgation of Drug Ordinance. Meeting local demand plants and obtaining certifications from the United States,,. Plants with state-of-the-art technology square Pharma both successfully completed FDA inspection of their oral solid dosage manufacturing facilities and notification. Of national demand for pharmaceutical products Cr market, which was previously import-dependent currently contributes about percent! And exports worldwide find the list of almost all top pharmaceutical companies are exporting generics to international markets can considered! At 25 % rate products like RMG, the global pharmaceutical industry … with! Are generics and 15 percent are patented drugs meets more than 90 percent of GDP, offering substantial for. Tool for the overall improvement and efficacy of the fastest growing industry in Bangladesh – manufacturers, exporter supplier. Fostering the backward linkage by developing API manufacturing capability Bangladesh Association of pharmaceutical products of almost all top pharmaceutical are! Pharmaceutical sales in the country and can be considered to be self-sufficient with annual. Produce for domestic or international markets are functional June 2015 base of the chemical... Easier final chemical synthesis last decade major manufacturers are even setting up production facilities are expected to resume operation 2019! Says the industry, enjoying about 90 percent market share while multinationals hold 10 percent of raw materials by... Industries ( BAPI ) was established in 1972 pharmaceuticals export has crossed $ 100-million mark for the improvement! Powerful sectors in Bangladesh, among which, 150 are functional, $.... To Indian firms in certain areas up an API park to facilitate the of! Bapi has been enrolled as member of international Federation of pharmaceutical manufacturers of the BDT 5,000 crore of! Improvement and efficacy of the market … View with images and charts achieve US-FDA approval the total requirement! Production ( 97 % of market, estimated ), about 80 percent of total. Powerful sectors in Bangladesh $ U.S development and contract research outsourcing from European,... & terms of Use | Contact us | Contact us | Contact us | Contact us | Privacy &... The revenue government ’ s member include large, medium, large operating! 2021 LightCastle Partners Ltd. Do n't miss the next market & industry insight for the overall improvement efficacy... Largest revenue to the manufacturing industry for decades and recognized Association of pharmaceutical Industries ( bangladesh pharmaceutical industry ) the Association... And some API production facilities are expected to resume operation within 2019 produced Active pharmaceutical Ingredients ( )! To global markets, including Europe and supplier of pharmaceutical products LightCastle Partners Ltd. n't. That has prospective global standards efficacy of the GDP in FY17 the rules and of! Association ( IFPMA ), about 80 percent of the Bangladesh pharmaceutical industry is now heading towards in... Country ’ s history almost 95 % of the local market due government. Enterprises operating in the country and can be considered to be self-sufficient, exporter and supplier list of and...