B'desh next frontiers of global drug market: Muktadir

[CaPtAiN_pLaNeT]

B'desh next frontiers of global drug market: Muktadir

B'desh next frontiers of global drug market: Muktadir

Bangladesh's pharmaceutical sector is ready to take the opportunity of the next wave of globalisation by replacing India and China with its skilled manpower and cutting-edge production facility, a top industry leader said.

"In just 2-3 years, 20 (drug) companies will be fully ready for export to the developed countries," Abdul Muktadir, managing director of Incepta Pharmaceuticals Ltd, said.

Speaking at a two-day international conference on Globalisation of Pharma Industries, he said: "Five companies are already approved by regulatory authorities of the developed world, another six are on the way to be approved and we'll help another nine to secure the key approval."

The event, organised by Australia based Asia Pacific Consultants Pty Ltd, was inaugurated by industries minister Dilip Barua Sunday in the city.

Reports show the global pharma market, which is growing at an annual 7.0 per cent, is expected to be US$ 1.1 trillion by 2014.

Mr Muktadir said Bangladesh has a flurry of competitive edges like low cost skilled manpower, huge investment for capacity building, and a huge pool of professionals like pharmacists, chemists, microbiologists.

An API park is going to be set up where 40 industries will be established, he added.

He said India and China will be busy feeding their large population and Bangladesh, like Switzerland, a small country with big pharma companies, will be exporting drugs.

Among all the major competitors in the pharma sector, Bangladesh has the highest number of English speaking human resources after India for which the country will get preference for technology transfer or contract manufacturing, he added.

Mr Muktadir, also secretary general of Bangladesh Association of Pharmaceutical Industries (BAPI), said there is tremendous export opportunity in North African countries like Algeria or Morocco as these countries don't have reference products and Bangladeshi companies' license can be used in such countries to produce products for the continent.

"Once 40 companies in the API park are accommodated according to latest GMP guideline and approved by all the regulatory bodies, about 800-1000 generic bulk drugs will be produced," Mr Muktadir said.

In his speech, Dilip Barua called upon pharma leaders of the country to explore the market for contract manufacturing which can bring Bangladesh Tk 2.0 billion annually.

He said the global generic pharma market worth US$100 billion is growing where Bangladesh can earn US$10 billion by exporting generic products after complying with the international buyers' requirement.

Mr Barua said the Active Pharmaceutical Ingredient (API) park at Munshiganj will start operating from July 2012.

The objective of the conference is to make connections among the local industry players with the regulatory authorities and experts in the field from various parts of the world for sharing information about global regulatory requirements, business opportunities, and scientific and technological advances to meet the challenges in the coming decade, said the organisers.

 

[TopCat]

very nice... hope BD will be next to China and India in major sectors like textiles, phrama, eather and footwear, ship building..
Jute also a major thing but I dont think we can produce jute worth more than 2 billion. We just dont have enough land.

 

[CaPtAiN_pLaNeT]

very nice... hope BD will be next to China and India in major sectors like textiles, phrama, ship building..

Bangladesh is already on its way to becoming that... if every thing goes well and power shortage problem can be resolved then BD will transform in to develop country earlier then any other south asian country in the next 3 decades or so...Bangladesh has got a big opportunity and now need to utilize it in a better way...

 

[Burnz]

If Bangladeshi companies dream of competing in the World Market, They can forget it. It has a much larger threat of Takeover by the Western Giants who are out on a buying spree.

Even Ranbaxy was taken over by a Japenese firm.

 

[desioptimist]

If Bangladeshi companies dream of competing in the World Market, They can forget it. It has a much larger threat of Takeover by the Western Giants who are out on a buying spree.

Even Ranbaxy was taken over by a Japenese firm.

No, he is talking about contract manufacturing. That is definitely possible, and nobody buys its own supplier.

 

[DelhiDareDevil]

Surprised mods allow so many economic threads here.

 

[TopCat]

Because thats the only thing interest BD members.. Cash and politics.... Guns are the least interesting thing in Bangladesh.

 

[eastwatch]

If Bangladeshi companies dream of competing in the World Market, They can forget it. It has a much larger threat of Takeover by the Western Giants who are out on a buying spree.

Even Ranbaxy was taken over by a Japenese firm.

For a prospective company in the west with a huge sales potential, there remains a possibility of being taken over by a giant company who would pay a huge sum of money to the present owners. However, the owners/shareholders in Bangladesh have a different mindset. These people are different from the western capitalists. The majority shareholders in the West sell to make a personal/family profit and go for foreign trips and enjoy a leisurely retired life.

Well. that is not our culture. We just do not know the westerners' way of vacation life. Our people want to live in their own society where he is well-known and would like to go to his company everyday where he is well-respected. So, he will be less bothered by a takeover offer. However, it remains to be seen how a take-over bid is strengthen by a giant with the purchasing of stocks in the market and corner the management. Finally, a compromise may be reached out, whereby the giant is given a position in the board of directors in order to avoid a hostile takeover. This is happening all the time in Japan and in many SE asian countries.

So, I expect a long war ahead whereby our drug companies will keep on pushing ahead and compete against the Chinese and Indian companies.

 

[desioptimist]

For a prospective company in the west with a huge sales potential, there remains a possibility of being taken over by a giant company who would pay a huge sum of money to the present owners. However, the owners/shareholders in Bangladesh have a different mindset. These people are different from the western capitalists. The majority shareholders in the West sell to make a personal/family profit and go for foreign trips and enjoy a leisurely retired life.

Well. that is not our culture. We just do not know the westerners' way of vacation life. Our people want to live in their own society where he is well-known and would like to go to his company everyday where he is well-respected. So, he will be less bothered by a takeover offer. However, it remains to be seen how a take-over bid is strengthen by a giant with the purchasing of stocks in the market and corner the management. Finally, a compromise may be reached out, whereby the giant is given a position in the board of directors in order to avoid a hostile takeover. This is happening all the time in Japan and in many SE asian countries.

So, I expect a long war ahead whereby our drug companies will keep on pushing ahead and compete against the Chinese and Indian companies.

What is the largest bangladeshi generics drug company(by sale)? As I said if you are doing contract manufacturing, you are essentially supplier of a company as the manufacturing cost is cheap. They are less likely for a takeover, compared to a generic drugs company which sells drugs on its own.

 

[GUNS-N- ROSES]

good going BD.

 

[CaPtAiN_pLaNeT]

No, he is talking about contract manufacturing. That is definitely possible, and nobody buys its own supplier.

I was not talking about contract manufacturing. BD companies produce medicine by its name and brand by it self. yes there are also some foreign companies also here in bd.

BD has a facility to produce patent medicine and to export it to any where of the world up to 2017 which neither india or china has... so at best even they produce patent medicine they can use it in their home country not outside... but as bd will be able to do that they are trying to capture a sizeble amount of the global pharmaceuticals pie and will be able to upgrade to world standard within years though they are already producing world class medicine and exporting to west.

Within next 15 years pharmaceuticals will overtake RMG to be the biggest earner for bd. RMG is expected to earn 30 billion within next 3 years... do not know about what will happen in next 15 years. But just imagine how much boom this pharmaceuticals will bring which now even do not export 1 billion usd worth of product.

 

[Gonjo]

Good Going Bangladesh, and we have to retain the achieved positions.

 

[TopCat]

I was not talking about contract manufacturing. BD companies produce medicine by its name and brand by it self. yes there are also some foreign companies also here in bd.

BD has a facility to produce patent medicine and to export it to any where of the world up to 2017 which neither india or china has... so at best even they produce patent medicine they can use it in their home country not outside... but as bd will be able to do that they are trying to capture a sizeble amount of the global pharmaceuticals pie and will be able to upgrade to world standard within years though they are already producing world class medicine and exporting to west.

Within next 15 years pharmaceuticals will overtake RMG to be the biggest earner for bd. RMG is expected to earn 30 billion within next 3 years... do not know about what will happen in next 15 years. But just imagine how much boom this pharmaceuticals will bring which now even do not export 1 billion usd worth of product.

India has the same facilities. Thats why they are producing all those AIDS drugs. And another news is that all the patent medicine that we are producing now will be out of patent restriction(which is 18 years by patent rule) by 2017.