Pharma expo eyes more foreign buyers

Pharma expo eyes more foreign buyers
Asian fair ends tomorrow
Star Business Report

A three-day Asian pharmaceuticals exposition began yesterday, opening scope for local firms to adopt the latest technologies to make quality drugs and showcase their products to foreign buyers.

“It is an opportunity for the local companies to know about the latest technologies. The fair has also given us a chance to showcase our products to buyers for exports,” said Abdul Muktadir, secretary general of Bangladesh Association of Pharmaceutical Industries (BAPI).

The Fifth Asian Pharma Expo takes place at a time when the local pharmaceuticals industry is expanding and a number of local drug makers are gearing up to get into the highly regulated US and European markets.

BAPI and GPE Expo Pvt Ltd have co-organised the event at Bangabandhu International Conference Centre. The fair ends tomorrow.

More than 170 firms, including six local drug markers, displayed their products at the show, which also exhibits various machineries ranging from production and processing of medicines to packaging, quality control and surveillance.

Raw materials of various drugs are also displayed at the fair.

Presently, local companies meet 97 percent of the demand of the local market that stood at Tk 7,000 core in 2010, up from Tk 4,000 crore in the previous year, according to BAPI.

Muktadir, also managing director of Incepta Pharmaceuticals Ltd, said the growth of Bangladesh medicine sector is attracting a growing number of people from abroad.

Organisers said the number of participants have increased in the current show from the previous one with some participants expecting to get spot orders.

“We hope to get one or two orders on the spot this year,” said Shankar Gupta, chief executive of Encapsulation of ACG Pam Pharma Technologies Pvt Ltd. The company displayed a machine with a capacity to fill 90,000 capsules an hour.

In the previous pharma exposition in Bangladesh, the company showcased a filling machine which was capable of filling 40,000 capsules an hour.

The fair drew not only pharmaceuticals entrepreneurs but also young learners of pharmacy.

Akhter M Chaudhury, chairman and managing director of Nuvista Pharma Ltd, said the fair has brought different types of equipment to manufacture drug.

“It is very informative and my experience is very positive” he said.

Md Nazrul Islam, senior executive of international marketing of ACI Pharmaceuticals, said the company joined the show with an aim to accelerate exports.

“We got buyers from Nepal and Kenya in the previous show. Now our exports to these countries are in process. We hope to get some new buyers this year also,” he said.


Comments are closed.