Bangladesh has a good chance of exporting generic drugs and non-prescribed medicines to Japan as companies in the world's second largest economy focus on producing new patent protected drugs.
"Japanese companies produce only five percent of generic products of its total annual output which creates vacuum for companies from other countries," Takanori Yurimoto, director of Japan Pharmaceutical Manufacturers Association (JPMA), said at a meeting with Bangladesh's commercial councilor to Japan.
A drug becomes generic when its patent rights expire. Generic drugs are cheap since manufacturers do not have to bear investment costs of developers. New drugs are developed under patent protections.
A foreign applicant needs to submit necessary data to qualify for Japanese market to Japanese Government Agency, Yurimoto said, adding that the agency examine the data relating to factory outline, equipment, manufacturing practices, personnel, post marketing safety and clinical trial.
JPMA, a volunteer organisation, helps developing countries establish efficient drug administrations apart from developing distribution and quality control systems through training and funds.
The Bangladesh commercial councilor to Japan, Abul Mansur Md Faizullah, met Yurimoto to find ways to promote Bangladeshi medicines to Japan.
Yurimoto also said Bangladeshi drug manufacturers need to comply with all the government policy directives in addition to the requirements made by private entities like hospital authorities and doctors' association.
Bangladesh Association of Pharmaceutical Industries (BAPI) President SM Shafiuzzaman said Bangladeshi companies have the ability to comply with all standards requirement in any country.
Shafiuzzaman said Bangladeshi companies are interested to make inroad into Japanese pharmaceutical market.
Bangladesh exported pharmaceutical products worth US$28.15 million to around 65 countries in 2006-07 fiscal year.
"Japanese companies produce only five percent of generic products of its total annual output which creates vacuum for companies from other countries," Takanori Yurimoto, director of Japan Pharmaceutical Manufacturers Association (JPMA), said at a meeting with Bangladesh's commercial councilor to Japan.
A drug becomes generic when its patent rights expire. Generic drugs are cheap since manufacturers do not have to bear investment costs of developers. New drugs are developed under patent protections.
A foreign applicant needs to submit necessary data to qualify for Japanese market to Japanese Government Agency, Yurimoto said, adding that the agency examine the data relating to factory outline, equipment, manufacturing practices, personnel, post marketing safety and clinical trial.
JPMA, a volunteer organisation, helps developing countries establish efficient drug administrations apart from developing distribution and quality control systems through training and funds.
The Bangladesh commercial councilor to Japan, Abul Mansur Md Faizullah, met Yurimoto to find ways to promote Bangladeshi medicines to Japan.
Yurimoto also said Bangladeshi drug manufacturers need to comply with all the government policy directives in addition to the requirements made by private entities like hospital authorities and doctors' association.
Bangladesh Association of Pharmaceutical Industries (BAPI) President SM Shafiuzzaman said Bangladeshi companies have the ability to comply with all standards requirement in any country.
Shafiuzzaman said Bangladeshi companies are interested to make inroad into Japanese pharmaceutical market.
Bangladesh exported pharmaceutical products worth US$28.15 million to around 65 countries in 2006-07 fiscal year.
