Beximco Pharma is setting up a new R&D unit as part of its Tk700cr expansion program over the next two years.
It is encouraging to see more Bangladeshi pharmaceutical companies begin to invest in research and development.
We need to see more such initiatives to enable Bangladesh’s pharmaceutical sector to build on its strong domestic base and to keep growing exports. This will become even more important if the TRIPS waiver for LDC countries to produce patented drugs is not extended when it becomes due to expire in December.
Locally-owned companies have already shown their ability to reach beyond markets in Asia, to a position where competitive prices and high quality are helping it to sell medicines to 79 different countries, including Brazil, Kenya, and the UK.
Much more can be achieved if the sector is enabled to increase efficiency and add more value locally.
For instance, developing accredited testing facilities in the country would cut the costs involved in getting product approval for exports to more developed nations. Similarly, infrastructure investments to increase the sector’s ability to produce bulk ingredients and conduct more of its own testing and research would both hugely lower production costs and attract more inward investment.
This is a vital knowledge-based industry, where the country has both a track record of success and huge opportunity to expand much further. The government can also help by encouraging industry collaboration with university research departments and by increasing the capacity of testing laboratories to speed up clearances for exports.
