Robust Growth of Pharmaceutical Industry in Bangladesh
The emerging health care need and challenges in South Asia have led to the robust growth of pharmaceutical products in the market. With this, leading companies from India, Bangladesh, and Sri Lanka are gearing up to make the best use of the opportunity.
Bangladesh is one of the leading exporters of active pharmaceutical ingredients (API) and generic pharma products in South Asia. With the current industry growth rate, experts forecast that the industry will grow to over $5.5 billion by 2022. With some of the industry leading players such as Square, Beximco, and Incepta in the market, the country is expected to witness much growth in GDP revenue through the export operations of these companies.
Bangladesh is one of the leading exporters of active pharmaceutical ingredients (API) and generic pharma products in South Asia. With the current industry growth rate, experts forecast that the industry will grow to over $5.5 billion by 2022. With some of the industry leading players such as Square, Beximco, and Incepta in the market, the country is expected to witness much growth in GDP revenue through the export operations of these companies.
One of the fastest growing manufacturers of generic pharmaceutical products in Bangladesh, Beximco Pharmaceuticals Limited, has been a forerunner in many aspects of the industry’s developments. The recent developments in exports such as the supply of Carvedilol and Olopatadine, not only to neighboring countries but also to the western markets, have given the required impetus for the industry growth. Salman F Rahman, Beximco Group’s Vice Chairman, who is also among the top businessmen in Bangladesh, believes that such developments will cement Bangladesh’s position as a major exporting hub.
Square Pharmaceuticals, another giant in the industry also received US FDA approval to carry on export operations to the American market. The approval has been given on basis of comprehensive audit on all drug manufacturing systems, which includes quality laboratory controls, facilities, and equipment, production, packaging, and labeling.
On the other side, Bangladesh used to import a lot of API from countries like India as it didn’t have a strong API manufacturing base. But the tides are changing today. The robust developments in R&D, business collaborations, and increased manufacturing capabilities are changing what was an import-heavy country to an exporting behemoth. And under the leadership of Salman F Rahman, Beximco Pharmaceuticals Limited is leading the way!
Square Pharmaceuticals, another giant in the industry also received US FDA approval to carry on export operations to the American market. The approval has been given on basis of comprehensive audit on all drug manufacturing systems, which includes quality laboratory controls, facilities, and equipment, production, packaging, and labeling.
On the other side, Bangladesh used to import a lot of API from countries like India as it didn’t have a strong API manufacturing base. But the tides are changing today. The robust developments in R&D, business collaborations, and increased manufacturing capabilities are changing what was an import-heavy country to an exporting behemoth. And under the leadership of Salman F Rahman, Beximco Pharmaceuticals Limited is leading the way!
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