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Pharma sector posts double-digit growth

Jasim Uddin Khan
The pharmaceutical sector's overall sales crossed Tk 4,000 crore in 2008 for the first time, registering a record double-digit growth by many of the country’s 258 companies.
According to Intercontinental Marketing Services (IMS), a global pharmaceutical market intelligence agency, Bangladesh medicine sales reached Tk 3,700 crore in 2007 and Tk3,542 crore in 2006.
Industry people think that more public health awareness, aggressive marketing by local companies and investments at an enhanced rare in the sector have helped cross the sales mark in the immediate past year.
“The industry welcomed over 50 new factories in the last three years, of which about two dozens started marketing with aggressive sales and promotion strategy during 2008,” said M Shafiuzzaman, president of the Bangladesh
Association of Pharmaceutical Industries (BAPI).
He said the market is becoming more and more competitive in terms of both price and quality as many factories have introduced the state of art technologies to grab more market share.
Eskayef, Renata, ACI and Drug International posted the best growth among the top ten companies in Bangladesh during the period, as IMS ranked, the BAPI chief pointed out.
While Square, Bexitnco, Incepta, Acme, Aristopharma, and Sanofi Aventis are the other players who performed well.
IMS provides critical information, analysis and services that drive decisions and shape strategies of the pharmaceutical companies.
The Industry people said the Tk 20,000 crore pharma industry passed an eventful year, as it experienced a sharp rise in the prices of raw materials, achieved a clearance in European market, witnessed a new essential drug list and welcomed new investments.
The issuance of patent registra-
tion was also suspended in 2008 as a safeguard measure for the local industry.
Renata Limited Managing Director Sayed Kaiser Kabir said to place Bangladesh on the global pharmaceutical map, local companies should be permitted to acquire companies overseas. "It takes anywhere between 3-7 years to register a product in the most lucrative markets. Through acquisition of companies with registered products entry into new markets can be expedited," he added.
However, several factories faced restrictions in expanding their business because of the interim government's anti-corruption drive against some of the directors of those companies.
Meanwhile, Eskayef Bangladesh Ltd, one of the leading manufacturers and exporters of pharmaceutical products, has won accreditation from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) foritsnewplant in Tongi.
Eskayef is the third company to obtain the MHRA certificate after Square Pharma and Renata.
“The accreditation will allow Bangladeshi firms to enter the lucrative European market with very competitive prices and standard as reputed global players do," said AM Faruque, managing director of Eskayef Bangladesh.
However Beximco Pharmaceuticals, the country's second largest drug maker, has been forced to cut production and exports due to the restrictions on imports of key raw materials. The government imposed such a restriction on the company as its vice chairman was on the list of graft-suspects.
Meanwhile the sectoral entrepreneurs expressed their frustration over the proposed 2008-09 budget, as it what they said lacks any specific guideline for the potential sector.
"Despite some promises made on many occasions for promoting the thrust sectors, the FY09 budget brings nothing for the pharmaceutical sector," Nazmul Hassan, chief executive officer, Beximco Pharmaceuticals Ltd, lamented.
jasim@thedailyslar.net