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Bright future for bangladeshi pharmaceuticals

Why Is There A Bright Future For Bangladeshi Pharmaceuticals And By What Means Will This Be Achieved?

1. Launch:

Pharmaceutical sector in Bangladesh is a very appealing sector in recent age group. Actually the Pharmaceutical sector In Bangladesh is one of the very most developed technical industries. This sector is contributing a lots in the economy of the united states. Besides reaching of local needs of medication the pharmaceutical companies are actually exporting to foreign countries on earth. The government has facilitate development very much giving support and applying rules and regulations. The new devices, the data and impressive ideas of the professionals has brought this sector to the most notable. Because of latest improvement of the pharmaceutical sector it is exporting pharmaceuticals to overseas market as well as Western european market. The pharmaceuticals sector is also reaching 97% of the total medicine needs of the home market. More recently the key pharmaceutical companies are increasing their business with the aspire to broaden export market. The brand new scientific development of some pharmaceuticals companies in Bangladesh has opened a new hope to compete globally.

Statement IN THE Setback

This analysis will be achieved to evaluate and analyze the present condition of pharmaceuticals business in Bangladesh as well as in international market. By exporting the pharmaceuticals what amount actually achieved. What's the recent status of pharmaceutical market segments in local market as well as global market, the quality of products, the regulatory affairs, the support of government and the firms technological development to support the challange.

2. Literature Review

The Pharmaceutical Sector In Bangladesh

There are 237 registered companies in Bangladesh. That includes different expert global companies, home big companies with international links and local other small companies. But among 237 registered companies, only 150 are in good shape. The most notable 10 companies are taking 70% of the local market and only two companies, Beximco and Square addresses 25 %25 % of the total market.

Bangladesh now exporting an array of medicine (restorative class and dosage varieties) to 71 countries on the planet. The Drug Control Ordinance of 1982 has located the countries pharmaceutical business in a good pace. That ordinance has promoted processing of local pharmaceutical company as well as helps the neighborhood companies to grow locally. And the result now watching that the neighborhood market marketed self-reliance in its pharmaceutical sector. Brfore that the neighborhood manufacturing companies offered only 20 % of the total medicine requirement. The rest quantity 80% was supplied by the multinational overseas companies. The real picture now could be that Local exports have increased from USD 0. 04 million in 1985 to USD 27. 54 million in 2006 (Export Promotion Bureau). However now 82% local needs are supplied by local companies and, MNCs source 13 % of the marketplace and 5 % of the drugs are brought in. Square Pharmaceuticals is the very best most strong for long time, the others top companies are Beximco, Incepta, ACME and Eskayef. Other firms in the top ten bracket include Aristopharma, Basic, Medical Pharma, Novartis and Medication International.

The Technology In The Local Pharmaceutical Sector

Pharmaceutical companies in Bangladesh are occupied in formulation of Working Pharmaceutical Ingredients concerning manufacturing only. Although R&D facilities are actually incorporated in most of the pharmaceuticals companies but nonetheless they are busy with expanding the new formulations however, not the new universal. The improvement in the opposite engineering of active pharmaceutical elements is very little.

Bangladesh now processing 450 general drugs, in 5, 300 recorded brands having 8, 300 various appearance of dosage forms. Now the number of total listed company is 237 (including 5 multinationals) in the sector. The number of products contain antiulcerants, flouroquinolones, antirheumatic non-steroid drugs, non-narcotic analgesics, antihistamines, and oral antidiabetic drugs. Many businesses are actually producing rugs of anti-cancer, anti retroviral drugs for the treating HIV/Products and anti Bird Flu drugs.

Exporting Countries :

Pharmaceuticals sector in Bangladesh is concentrating on to set up it as a source for low-priced and realistic medicines. Lately, local manufacturer have tried to improve sales of pharmaceuticals to both emerging markets and developed countries, such as Australia and the UK. Bangladesh contains the chance to export products to least developed countries as well as all other countries as the necessity of those countries. Not only whatsoever developed countries the local manufacturing firms exporting medicines in other countries like UK as a provider of the local company in the UK. There are a few firms which has got the UK MHRA license that helps those to export medicines in the UK as well as in the EU market. At present Bangladesh exports designed drugs about 71 countries on earth. Some of the countries name discuss below:

Afghanistan, Austria, Belize, Belgium, Bhutan, Botswana, Brazil, Cambodia, Canada, Colombia, Chili, Curacao, Djibouti, Denmark, Ecuador, Ethiopia, France, Fiji, Georgia, Germany, Ghana, Gambia, Guatemala, Hong Kong, Macao Honduras, Hungary, India, Indonesia, Iran, Jordan, Japan, Kenya, Korea (South), Kinbati, Lebanon, Malaysia, Mexico, Mozambique, Myanmar, Nepal, Netherlands, New Zealand, Norway, Russia, Nicaragua, Pakistan, Papua New, Guinea, Philippines, Singapore, Slovenia, Somalia, South Africa, Spain, Sri Lanka, Sudan, Sweden, Syria, Solomon Island, Taiwan, Tanzania, Thailand, Togo, UAE, Ukraine, U K, USA, Venezuela, Vietnam, Yemen, Zimbabwe etc.

Pharma Sector In Bangladesh And TRIPS

Pharmaceutical sector is strongly patent demanding. All of the big organizations patents their product,

process and formulation in order to do business with their protect for very long time. There is an contract which ensures Intellectual property privileges of pharmaceutical products. It is known as Trade Related Areas of Intellectual Property Rights ( TRIPS). It is predicated on the R&D work of companies to innovate new formulation.

The TRIPS Arrangement particularly consent that all growing countries that are customers to the WTO pass national laws that are Outings compliant by 2005. Because of this many countries like India, which produces and exports common copies of brand products trademarked not in their country will not be able to make those medicines because of TRIPS patent rule. But the A minimum of developed countries like Bangladesh offers an opportunity to put into action the pharmaceutical patent needs of the TRIPS Agreement till 2016.

Bangladesh, although a least developed country has got this chance plus they can export pharmaceutical products to minimal developed countries as well as they can produce the Remedies in their country with the formulation developed or patented by other businesses in worlds.

Recent development Of Pharmaceuticals In Bangladesh

According to the article of Business Monitor International's (BMI) In Bangladesh the drugs Sales in the month of April-June 2009 has improved upon by 21% contrast with the same period in 2008. Two main reason was behind this development. Firstly, almost all of the local businesses released new formulations and improved their sales and marketing performance and reliable manufacturing system. Included in this The top drug manufacturer was Opsonin Pharma, which submitted a 51% income increase, next Eskayef Bangaldesh (+42%) and Medicine International (+39%). Health consciousness between the inhabitants has also acquired an control on sell growth.

BMI has created a 10-yr predict for pharmaceutical sales. The primary reason of cure sales in Bangladesh are: The government has greatly involved in healthcare sector ; increased % of serious disease in elevated income groups; and modernization of marketing practice by local drugmakers. Through to 2019, BMI is forecasting a CAGR of 12. 06% for the country's All of us$1bn pharmaceutical market.

Bangladesh has a flourishing pharmaceutical making sector. The federal government of Bangladesh is setting up to give various help to support local vaccine production. That will assist the country's Expanded Immunisation Program. That are the support of the Medicine Testing Lab and an increase of professional in the Drug Administration and National Regulatory Specialist. Bangladesh newly guaranteed a licence from the World Health Business (WHO) to create vaccines locally. The government targeting that by making drugs at an global criterion, the state can anticipate to set-up privileged international demand for its locally produced drugs.

(http//www. researchandmarkets. com/research/bf1f27/bangladesh_pharmac)

3 Research Design

Research Questions And Aim Of The Study

The main research question in this review is:"How come there a shiny future for Bangladeshi Pharmaceuticals and with what means will this be achieved. ?" In aiding this question, the following sub-questions will be looked at:

  • What types of regulatory affairs usually had a need to export medication in abroad ?
  • What will be the documents necessary to send mostly to entice the foreign consumer?
  • What will be the standards of the products that are exported ?
  • What is the health of manufacturing vegetation and the availability of sufficient machines for production and quality control?
  • What are the benefits, perceived hazards, disapproval, supply and existing laws and regulations and regulatory affairs ?
  • What are the conditions of these pharmaceuticals supplying medications in the neighborhood market and exporting medications in the global market ?
  • What types of support services are available for the complete process?

The major focuses on of today's study aims the next:

  • To have an understanding about the pharmaceutical sector in Bangladesh.
  • To understand their local and global business of medication.
  • To find out what necessary manufacturing plant facilities are required to attract the customer or foreigner and actions against those requirements.
  • To know very well what necessary certification necessary to export medication in global market.
  • To know the health of process and quality control gadgets is out there can support to keep quality.

As a whole, this research is dedecated to find out " Is there any significant potential for pharmaceutical companies to compete internationally ? ( in terms of quality, economic solvency, professional medical, legal aid etc). "

Proposed System Of Data Collection

The proposed study can be an important one. Both primary and secondary data needs to be collected at the time of study.

Primary Data

Direct interview system will be used to collect the primary data about the research subject matter. Two types of interview schedules have been targetted, first collection is for the managers of international marketing department of the preferred pharmaceuticals companies and the next place for the seed managers and quality control managers. The asking models for both targetted categories involve some simlar questions to determine the condition of the pharmaceutical business in local and international market.

Secondary Data

All systems of collecting data will supply quantitative data (volumes, information or financial) or qualitative data (usually words or word). Quantitative data may be shown in desk or graphical presentation. Actually the meaning of Extra data is with the aim of data which has been made up by other person for a dissimilar process to yours. Secondary data will be gathered from available literatures in form of literature, journals, magazines, posted materials, research articles and annual studies of the pharmaceuticals which will be studied.

4 Range And Limitations IN THE Study

Scope Of The Study

The study intended to cover the developing, quality of product and export programs of pharmaceuticals of different pharmaceuticals company in Bangldesh. Basic aim for would be that the sample study represents the situation of the whole pharmaceutical companies in local and global market. The conclusions can vary greatly in defferent businesses due to various mission, vission and procedures maintained by the several companies.

Selection Of Respondents

Selections of respondents are two categories: International marketing division personnel of different pharmaceutical companies and personnel from the herb. The summary desk below shows the main element respondents of the proposed research.

Determined companies:

1. Aristopharma Ltd.

2. Beacon Pharmaceuticals Ltd.

3. Beximco Pharmaceuticals Ltd

4. Eskayef bangladesh Ltd

5. Medical care Pharmaceuticals ltd.

6. IBN Sina pharmaceuticals Ltd.

7. Incepta Pharmaceuticals Limited

8. Popular Pharmaceuticals Limited

9. Square Pharmaceuticals Ltd. Bangladesh

10. The ACME Labroratories Ltd.

Limitations IN THE Study

Initially it is hard to do the research immediately i. e. speaking about with the staff, field work to control required important data, and more. Moreover majority good aims are present in this analysis but it has additionally some information spaces. These are given below:

  • Due to limitation of your energy and researches constraint, it might be impossible to manage and check out all the firms of the proposed country in terms of information collection.
  • Most of the prospective pharmaceuticals are in competition and correspondent are buy with regulatory affairs. So scheduled compared to that proper answer may not emerge from the questionnaire.
  • Due to insufficient sufficient finance several examination is not summerised in my own research program.
  • As a non- govt. Group and competition, they don't be interested to talk about everything.
  • Published informations is probably not available as it's important.

At last inefficiency and inexperience of the researcher would also be a limitation.

5 Timetable For The Dissertation

The supervisor will check with me about the time and program of the dissertation work. The success of the work requires study are well as research. Moreover it is visible to review on today's literature and present supposition. I will need to summarise the questionnaire, justify the questionnaire, make the questionnaire a final one, resource collection from the ground, data dealing, design and resources evaluation, summarising of the dissertation with revision and communication with the supervisor. So far as I understand, However, I'll make this in assessment with the person who's my dissertation supervisor.

Finally it is must to convey that this is a proposal of my MBA dissertation. It is determined by the supervisor's discussion to finalize.

References-

# Bumpas J. ( 2007) "Private Sector Methods to Improving Bangladesh Drug Quality. "

# Gehl Sampath P (2007) "Intellectual Property and Invention in A minimum of Developed

Countries: Pharmaceuticals, Agro- Processing and Textiles and RMG in Bangladesh. "

# Gehl Sampath P (2007) " Creativity and Competitive Capacity in Bangladesh's

Pharmaceutical Sector" working paper.

# Osman F A ( 2004) " A Study of medical Policy Process: Coverage Making in Bangladesh".

A H Development Publishing House.

# http//www. researchandmarkets. com/research/bf1f27/bangladesh_pharmac, retrived on 25. 02. 2010.

# Chowdhury, F. , S. Gurinder, S. Raihanuddin, and S. Hasan Nasir. 2006. "A TECHNIQUE for

Creating the API Area". Interim Statement. Bangladesh: Ministry of Industry.

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