industry analysis on pharmaceutical industry
Daffodil International University Assignment on Industry Analysis of pharmaceutical industry.
Prepared for-
Shahnoor
lecturer
Daffodil International University
Prepared by- Name ID
Ruhul Amin
113-11-
MD. Tuammel Hossain
113-11-2190
Amina Afrin
113-11-2244
Arshad
Pharmaceutical Industry of Bangladesh
Abstract
Pharmaceutical is the core of Bangladesh’s Healthcare sector, and serves as one of the most important manufacturing industry. With a history since 1950s, the industry has now turned one of the most successful pharmaceuticals manufacturing industry among the developing countries. Presently, the industry meets 97% of local demand and exports to more than 80 countries. The industry has been experiencing robust growth over the last few years. A local industry supporting drug policy and effective regulatory framework, along with TRIPS relaxations are the key reasons for success of the industry.
While the industry is achieving self-sufficiency, it yet procures 70% of raw materials from abroad. But developments are already taking place, with a number of firms now manufacturing raw materials locally. In addition, an API project has already been undertaken to accelerate the vertical integration within the industry.
The industry has been expanding locally and internationally. Local market grew at 23% in 2010, while import reached USD 50 Million landmark. A number of firms got accreditations from USA, UK, Australia etc. developed markets, and are underway toward expansion into the developed markets. Locally, firms are preparing themselves for post 2016 scenario, when TRIPS will be implemented. Almost all the firms are upgrading their facilities and taking
Prepared for-
Shahnoor
lecturer
Daffodil International University
Prepared by- Name ID
Ruhul Amin
113-11-
MD. Tuammel Hossain
113-11-2190
Amina Afrin
113-11-2244
Arshad
Pharmaceutical Industry of Bangladesh
Abstract
Pharmaceutical is the core of Bangladesh’s Healthcare sector, and serves as one of the most important manufacturing industry. With a history since 1950s, the industry has now turned one of the most successful pharmaceuticals manufacturing industry among the developing countries. Presently, the industry meets 97% of local demand and exports to more than 80 countries. The industry has been experiencing robust growth over the last few years. A local industry supporting drug policy and effective regulatory framework, along with TRIPS relaxations are the key reasons for success of the industry.
While the industry is achieving self-sufficiency, it yet procures 70% of raw materials from abroad. But developments are already taking place, with a number of firms now manufacturing raw materials locally. In addition, an API project has already been undertaken to accelerate the vertical integration within the industry.
The industry has been expanding locally and internationally. Local market grew at 23% in 2010, while import reached USD 50 Million landmark. A number of firms got accreditations from USA, UK, Australia etc. developed markets, and are underway toward expansion into the developed markets. Locally, firms are preparing themselves for post 2016 scenario, when TRIPS will be implemented. Almost all the firms are upgrading their facilities and taking