Desk Report,
The development of pharmaceutical raw materials industry is necessary for the sake of national security.
In the interest of national security, the development of the pharmaceutical raw materials industry is necessary to reduce dependence. The formation of a task force for this industry has become urgent. If Bangladesh receives policy and financial support, it will be able to export pharmaceutical raw materials worth $2 million annually.
The development of pharmaceutical raw materials industry is necessary for the sake of national security.
This was stated by businessmen manufacturing pharmaceutical raw materials at a meeting with journalists at a hotel in the capital’s Karwan Bazar area on Saturday afternoon. The meeting was organized by the Bangladesh API and Intermediaries Manufacturers Association (BAIMA), a front for pharmaceutical raw materials manufacturers. At the meeting, BAIMA President Saifur Rahman said that 95 percent of the medicines needed in the country are manufactured by domestic pharmaceutical companies. But 90 percent of the pharmaceutical raw materials have to be imported from abroad. Bangladesh’s dependence on India and China for pharmaceutical raw materials has been a long-standing one. If this dependence cannot be reduced, the safety of Bangladesh’s medicines will remain a threat.
It was said at the event that the Health Sector Reform Commission has mentioned the issue of pharmaceutical raw materials as a national security issue in its report. The commission has recommended providing policy and financial support to the raw materials industry.
Businessmen said at the event that India and China have invested a huge amount in the pharmaceutical raw materials industry, as well as provided financial incentives and tax exemptions to businessmen. India and China are the main competitors of this industry in the country. In order to develop this industry in Bangladesh, financial support and tax exemptions for businessmen for 5-10 years should be provided.
BABMA President Saifur Rahman said, “For more than a decade, we have seen that no one wants to listen to us carefully. We have to run around for months and years for a small task. If there is something like a task force or advisory council, we think that work can be done through them.”
Businessmen said that Gonoshasthaya Pharmaceuticals is the first to produce raw materials for medicines in the country. Currently, 15-16 companies produce raw materials for medicines. 10 percent of the raw materials required are being produced in the country. According to them, there are approvals for the production of raw materials for about 70 medicines. About 1,000 raw materials for medicines are imported from abroad. Every year, $1.3 billion goes abroad for importing raw materials.
Raw materials for medicines are called active pharmaceutical ingredients or APIs. Making APIs requires scientific knowledge, technical expertise and advanced technology. Businessmen have proven that it is possible to combine all these. Some have even made APIs and exported them abroad. Again, one or two pharmaceutical companies are making APIs and using them in their own pharmaceutical companies.
Among others, ABM Jamaluddin, Managing Director of Gonoshasthaya Pharmaceuticals, and Sheikh Nizamuddin Ahmed, Executive Committee Member of BAIMA, spoke at the event.
