Pharmaceutical Opportunities in Bangladesh
Sector briefing
Pharmaceutical Opportunities in
Bangladesh.
WHY BANGLADESH?
Pharmaceutical is one of the highest priority sectors in Bangladesh. With an annual twodigit growth rate the Bangladesh pharmaceutical industry is now heading towards self – sufficiency in meeting local demand. With over US$250 million investments in the pharmaceutical industry of Bangladesh the sector has emerged as the country’s most developed hi-tech one that contributes significantly to the national economy. There are more than 240 small, medium, large and multinational companies operating in the country producing around 97% of the total demand. The sector is the second highest contributor to the national ex-chequer after tobacco and it is the largest white-collar intensive employment sector in Bangladesh.
More than 95% of the total demand of
Bangladesh is being met by local manufacturing. The remaining 5% basically constitute import of much specialised products like vaccines, anti-cancer products and hormone drugs.
The country can continue to produce patented products until 2016 as per trade related intellectual property rights (TRIPS). The industry is legally permitted to reverse
engineer, manufacture and sell generic versions of on-patent pharmaceutical products for domestic consumption as well as for export to other least Developed Countries (LDCs). It created a big opportunity to make Bangladesh a new chemical entity. Bangladesh can share its long years of experience in pharmaceutical formulation and marketing with the LDCs and developing ones, who need it. Among the 50
LDCs, Bangladesh has the strongest base to manufacture pharmaceutical products.
Over $300 million invested in the sector, has helped modernise and create new facilities. A good number of skilled professionals from home and abroad are expected to join the industry to enrich its human resources pool
UK Trade & Investment Sector briefing: Pharmaceutical
Pharmaceutical Opportunities in
Bangladesh.
WHY BANGLADESH?
Pharmaceutical is one of the highest priority sectors in Bangladesh. With an annual twodigit growth rate the Bangladesh pharmaceutical industry is now heading towards self – sufficiency in meeting local demand. With over US$250 million investments in the pharmaceutical industry of Bangladesh the sector has emerged as the country’s most developed hi-tech one that contributes significantly to the national economy. There are more than 240 small, medium, large and multinational companies operating in the country producing around 97% of the total demand. The sector is the second highest contributor to the national ex-chequer after tobacco and it is the largest white-collar intensive employment sector in Bangladesh.
More than 95% of the total demand of
Bangladesh is being met by local manufacturing. The remaining 5% basically constitute import of much specialised products like vaccines, anti-cancer products and hormone drugs.
The country can continue to produce patented products until 2016 as per trade related intellectual property rights (TRIPS). The industry is legally permitted to reverse
engineer, manufacture and sell generic versions of on-patent pharmaceutical products for domestic consumption as well as for export to other least Developed Countries (LDCs). It created a big opportunity to make Bangladesh a new chemical entity. Bangladesh can share its long years of experience in pharmaceutical formulation and marketing with the LDCs and developing ones, who need it. Among the 50
LDCs, Bangladesh has the strongest base to manufacture pharmaceutical products.
Over $300 million invested in the sector, has helped modernise and create new facilities. A good number of skilled professionals from home and abroad are expected to join the industry to enrich its human resources pool
UK Trade & Investment Sector briefing: Pharmaceutical