~Export Prospect of Pharmaceuticals Sector in Bangladesh Ratings: (0)|Views: 903 |Likes: 5 Veröffentlicht vonMarshal Richard See more 22 December 2011 BRAC UNIVERSITY Export Prospect of PharmaceuticalsSector in Bangladesh Marshal Richard ID# 10364057 Section: 1 Export Prospect of Pharmaceuticals Sector in BangladeshBus 502: Managerial Communication Abstract Pharmaceuticals industry is one of the largest growing sectors in Bangladesh. This sector fulfillsour 97% total demand of medicine and its growth gate is near about 34%. Pharmaceuticalshave lots of export prospect. It is the second biggest foreign currency earner sector in Bangladesh. This report mainly focuses on the export prospect on Bangladesh pharmaceuticalsindustry. This report aims to find out the overall export prospect, its whole pharma scenario,total foreign markets, export scenario, barriers etc on the basis of Bangladesh pharmaceuticalsindustry. Introduction Bangladesh's pharmaceutical industry has tremendous potential to grow and compete in theinternational market. Most companies follow the good manufacturing practice (GMP) standards,set by the UN World Health Organization (WHO). Bangladesh can compete with countries likeIndia, China, Brazil and Turkey in the international export market due to its quality compliance.Bangladesh can continue to produce patented products until 2016 as per trade related intellectualproperty rights (TRIPS).The industry is legally permitted to reverse engineer, manufacture andsell generic versions of on-patent pharmaceutical products for domestic consumption as well asfor export to other LDCs. It created a big opportunity to make Bangladesh a new chemical entity.Bangladesh imports 80 per cent of its pharmaceutical raw materials. A good number of skilledprofessionals from home and abroad are expected to join the industry to enrich its humanresources pool. Overview of Pharmaceuticals Industry of Bangladesh Pharmaceuticals sector is one of the fastest growing sectors in Bangladesh. With satisfactoryannual growth rate of 34%, this sector is also fulfilling 97% of the total medicine requirement of the local market. Now more than 200 registered pharmaceutical manufacturers in Bangladesh. Itis the largest employment sector in Bangladesh. Around 35,000 people work in the industry i.e.50% are pharmacists, chemists, biochemists and microbiologists.Government organization i.e. Directorate of Drug Administration and semi governmentPharmacy Council of Bangladesh, control pharmacy practice in Bangladesh. The BangladeshPharmaceutical Society is associated with international organizations i.e. InternationalPharmaceutical Federation and Commonwealth Pharmaceutical Association. According toBangladesh Pharmaceuticals and Healthcare Report 2011, Bangladesh medicine sales reachedTk. 7,000 crore in 2010. Business Monitor International in its latest report said Bangladesh holdthe 14th position in 17 regional markets surveyed in BMIs Pharmaceutical & HealthcareBusiness Environment Ratings for the Asia region. Bangladesh's pharmaceutical rating is 40.2out of 100; this figure has changed marginally from the previous quarter but still remains lower Export Prospect of Pharmaceuticals Sector in BangladeshBus 502: Managerial Communication than the regional average of 53.1. Globally, Bangladesh occupies 67th position in BMIs 83market-strong pharmaceutical universe.The experts forecast the growth trend would take the sales volume to Tk. 10,000 crore in 2011.At present Bangladesh is exporting more than 67 different countries of the world. There are about450 generics/substances registered in Bangladesh. Out of these 450 generics, 209 are in thecontrolled category (i.e. in the essential drug list). The remaining 333 generics are in thedecontrolled category. The total number of brands/items that are registered in Bangladesh iscurrently estimated to be 5,300 while the total number of dosage forms and strengths are 8,300,about 12,500 plus brands. The top 10 domestic manufacturers having a market share of about85%, while the other manufacturers contribute about 20% of the total pharmaceutical market of Bangladesh. Top Twenty Manufacturers Based on market share and growth top 20 pharmaceuticals companies are1) Square 2) Incepta 3) Beximco 4) Acme 5) Opsonin 6) Eskayef 7) Reneta 8) Aci 9) Aristopharma 10) Drug International 11) Sanofi Aventis 12) GlaxoSmithKline 13) Orion Pharma Ltd.14) Novo Nordisk 15) Healthcare Pharma 16) General 17) Sandoz 18) Popular Pharma 19)Novartis 20) Ibn Sina. Foreign Markets Bangladesh has exported basic chemicals to many countries like Hong Kong, South Korea,Malaysia and so on. After being successful in exporting basic chemicals, a few leadingcompanies also started registering and exporting their finished formulation in sixty seven othercountries, i.e. Australia, Brazil, Canada, Japan, etc. Overall pharma companies have exportactivities in about 72 countries. International Privilege Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement permits Bangladesh toreverse-engineer patented generic pharmaceutical products to sell locally and export to marketsaround the world. The 1994 WTO agreement on Trade Related Aspects of Intellectual PropertyRights (TRIPS) requires signatories to implement patent protection for almost all products,including pharmaceuticals. However, article 66 provides LDCs with a breathing space beforeintroducing full product patent protection. Bangladesh is therefore exempt until 2016 from therequirement to observe patent protection on reverse-engineered generic products destined for thelocal market and also enjoys a range of privileges with regard to exporting such products. Where the industry is right now