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Leaders of Active Pharmaceuticals Ingredients (API) import-oriented local pharmaceutical sector now want to be API producers and capture a portion of the export market that is worth hundreds of billions of dollars.
Bangladesh Association of Pharmaceutical Industries (BAPI) has now set its sight on API production and export, said BAPI Senior Vice President Abdul Muktadir on Monday.
While delivering the keynote paper at a session on the concluding day of the Bangladesh Business Summit 2023, organised by FBCCI, in Dhaka, he discussed the current situation and shed light on the emerging situation following Bangladesh’s graduation from Least Developed Countries (LDC).
He said that 15 companies are currently producing APIs — such as Azithromycin, Diclofenac Na, Flucloxacillin, Amoxicillin, Paracetamol, etc. — locally at the API Industrial Park at Baushia, Munshiganj, about 40 km away from Dhaka city.
At least 27 API industries will be established in the park that would have a central Effluent Treatment Plant, incinerator and other facilities. BAPI aims to have all 27 companies approved by regulated markets, he added.
BAPI aims to produce about 800-1,000 generic bulk drugs and most of the bulk materials will have a Drug Master File (DMF) or European Drug Master File (EDMF), Muktadir said.
He also gave a prospect of opportunities for the pharma sector’s future mentioning Biosimilar products, vaccines, APIs and global generic export.
“Currently the size of the global API market is around $260 billion and other than the developed world, only India has access to the market with a portion worth $20 billion.
“Everyone is looking for an India Plus One, where Bangladesh has tremendous opportunity,” he said, adding that Bangladesh can cater to all markets with pure generics, branded generics and APIs.
In the meantime, companies are building up their finished formulation manufacturing capacity. The finished formulation includes both small-molecule synthetic drugs and complex biologics and vaccines.
Very few countries will be able to compete with Bangladesh if a robust pharmaceutical sector can be achieved with APIs and biologics manufacturing facilities in addition to synthetic small molecules and skilled manpower and low cost, said the BAPI leader, also the chairman and managing director (MD) of Incepta Pharmaceuticals.
“So if we can implement our plans, then Bangladesh can effectively become a global hub of generic medicine,” he stressed.
Talking about the possible market, he said that for generic drugs, the local industry should also focus on potential API markets in addition to western regulated markets. Countries in Latin America, Indonesia, Pakistan, Egypt, Kenya, etc. would be the target countries because they have a large formulation base but no API industry.
He also urged diplomatic efforts so that once APIs are available the pharmaceuticals sector would have a ready market.
BAPI President and Beximco Pharmaceuticals MD Nazmul Hassan Papon said LDC graduation has never been easy for any graduated country.
“For Bangladesh, it will bring major problems for pharma industries as they would not be allowed to produce medicine under TRIPS facilities [with relaxed patent laws] available for the LDCs. There would be accessibility and availability but medicine affordability for all medicines would be a problem,” said Papon, who was the session’s chief guest.
