http://www.newagebd.com/2008/jun/25/busi.html#1
Pharmaceuticals eye EU market
Kazi Azizul Islam
Export of drugs manufactured in Bangladesh will see big boost soon as major Bangladeshi drug makers, having secured vital accreditations for the European market, are preparing to export to this lucrative market.
According to industry sources, Beximco the leading exporter that explored markets from the Fareast to Latin America, is set to acquire accreditations for Australia and countries under the Gulf Cooperation Council.
Incepta and Renata are getting ready for the highly sensitive European market while Square, the local market leader, is working on several follow-up orders for buyers in UK after sending its first consignment a few months back.
‘We will ship our first consignment to Europe within three months,’ said Abdul Muktadir, managing director of Incepta that secured EU-GMP (Good Manufacturing Practice) certificate in December, 2007.
Incepta is preparing consignments of anti-diabetics, anti-hypertency, anti cholesterol and naturopathic drugs to be procured by a major EU importer.
‘Just during the past one month we received four potential enquires from Europe,’ said the Incepta official which is third in the local market with sales worth about 300 crore ($43 million) in 2007.
He, however, observed that it was not significant how much money Bangladeshi drug makers earned from the EU market. ‘Ensuring importers’ confidence and consistency is crucial now as global drug importers are desperately searching for reliable alternative sources to China or India. So a multibillion dollar market beckons Bangladesh.’
Renata, another giant pharmaceutical, is preparing to export significant number of consignments, contracted with a major pharmaceutical company in UK, of steroids, apparently used in number of life saving drugs.
‘We will be able to ship our first consignment within in a couple of months,’ Monjurul Alam, head of the international business department of the Renata, told New Age on Tuesday.
Renata’s export division, which at present markets drugs in Sri Lanka, Philippines, Hong Kong, Jordan and is eyeing the million dollar mark this current year, is enthusiastic about opportunities in the EU.
‘I see a drug import market worth billions of euros staring at Bangladesh,’ said Alam.
At present multinational Novartis (Bangladesh) exports drugs to Germany and Austria.
Ashfaque Ur Rahman, managing director of Novartis, which shipped mainly cardiovascular and neurological drugs worth about $17 million to Europe in 2007, expects entrance of more Bangladeshi companies into the European market would reap more benefits.
‘200 per cent!’ said Ashfaque when asked about European clients’ impression about the quality of Bangladeshi drugs.
Around 30 Bangladeshi drugs makers explored markets in more than 50 countries including those in Africa, Latin America and Asia.
According to the Export Promotion Bureau, export figures will surely reach $40 million with a growth of 50 per cent in the current fiscal to be closed at the end of this month.
But, Nazmul Hasan, the chief executive of Beximco Pharmaceuticals, that eye more than $3 million as its 2008 export proceeds, said, ‘The current amount is almost nothing compared to the industry’s capacity and potential in the global market.’
Nazmul said besides Beximco’s capacity to produce 4 billion pieces, only the large drug manufacturers are ready for manufacturing drugs for the export market, which would require at least 20 billion pieces. ‘If one tablet sells at 10 cents on an average we are ready to earn $2 billion.’
Nazmul foresees that by mid-2009 Bangladesh drug makers will find global markets especially the advanced markets ripe for them.
‘By early next year, most of the patent related cases in WTO will be settled and drug markets will clearly see which items are beyond the purview of patents thus and open for LDCs to produce,’ he said.
According to a WTO agreement, LDCs do not have to implement any kind of intellectual property rights before 2016 for medicines and drugs.
