Pharmaceuticals including API

  • Bangladesh holds the 14th position in 17 regional markets surveyed in BMIs Pharmaceutical & Healthcare Business Environment Ratings for the Asia region.
  • Globally, Bangladesh occupies 67th position in BMI’s pharmaceutical universe. Bangladesh’s Pharmaceutical rating is 40.2 out of 100; this figure has changed marginally from the previous quarter but still remains lower than the regional average of 53.1.
  • Pharmaceutical is one of the sectors where Bangladesh is flourishing.
  • The WTO TRIPS agreement permits Bangladesh to reverse-engineer patented generics till 2021 to sell locally and export to markets around the world.
  • This has led to the development of a strong manufacturing base, technical know-how and a supportive, liberal regulatory regime.
  • Apart from generic markets, Bangladesh is currently exporting to regulated markets of US and the European Union.
  • Bangladesh is free from the obligations to implement patents and data protection for pharmaceutical products until 2033. The Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement, under the World Trade Organization (WTO), provides this waiver to the LDCs.
  • Bangladesh is also going to establish an API park where 40 API industries will be able to operate.
  • At the moment, around 30 Bangladeshi pharmaceutical companies export medicines to 113 countries in Europe, Asia, Africa, Latin America, and Australia.