Health experts and leaders in the pharmaceutical industry have urged for policy backing and the elimination of trade barriers to enhance local production of pharmaceutical raw materials. The aim is to reduce reliance on imports and stabilize medicine prices. They have also suggested the formation of a permanent taskforce involving all stakeholders to drive the growth of the active pharmaceutical ingredient (API) industry.
With Bangladesh expected to graduate from the least developed country (LDC) status, experts predict heightened competition in the pharmaceutical sector post-TRIPS exemptions. Therefore, ramping up local API production is deemed essential for sustained growth. The consensus is that through strategic planning and strong public-private partnerships, Bangladesh could swiftly achieve self-sufficiency in API production.
These sentiments were echoed during a discussion themed “Policies and Implementation Strategies for the Development of the API Industry” at the Super Specialised Hospital of Bangladesh Medical University (BMU). The Alliance for Health Reforms, Bangladesh (AHRB), advocates for three key measures: incentivizing production linkages, establishing a permanent taskforce, and ensuring consistent gas supply at the API Industry Park in Munshiganj.
While Bangladesh’s pharmaceutical sector currently caters to nearly all domestic demand and exports to over 150 nations, the heavy reliance on imported raw materials strains foreign currency reserves and exposes local production to global market fluctuations. Prof Syed Abdul Hamid highlighted in a presentation that Bangladesh spends $1.3 billion annually on API imports, emphasizing the urgency to bolster the industry for foreign currency conservation.
To tackle challenges post-LDC graduation and pave the way for job creation, Hamid recommended financial incentives and streamlined regulatory frameworks akin to India. Stakeholders like Zakir Hossain pressed for practical policy support over mere committee formations, stressing the importance of involving relevant industry representatives for progress.
President of the Bangladesh API and Intermediaries Manufacturers Association (BAIMA), SM Saifur Rahman, underscored the need for Bangladesh to emulate successful strategies from countries like India and China to compete effectively. Notably, India’s establishment of a dedicated taskforce for API sector growth serves as a model for Bangladesh to follow suit.
While efforts have been made to invest in API infrastructure, challenges persist, such as inadequate energy supply and bureaucratic delays in approvals. Industry leaders emphasize the need for efficient energy management and expedited regulatory processes to catalyze sector development.
The vitality of the API industry extends beyond pharmaceuticals, as it also impacts related sectors like agrochemicals and dyes. Government officials and health experts stress the symbiotic relationship between API industry development, national health security, economic prosperity, and job creation.
The discussion, moderated by Prof Syed Md Akram Hussain, saw participation from academia, healthcare professionals, and government representatives, signifying a collaborative effort to propel Bangladesh’s pharmaceutical sector towards self-sustainability in API production.