Bangladesh’s pharmaceutical sector, which has demonstrated remarkable growth, is now focusing on reducing its reliance on imports for raw materials, particularly active pharmaceutical ingredients (APIs).
Currently, the country imports approximately 85 percent of the required APIs, costing around $1.3 billion annually, while local companies produce the remainder.
To address this reliance, an API Park has been established in Gazaria of Munshiganj, with plans to commence operations soon. ACME Laboratories, one of the leading pharmaceutical companies, is set to commission a manufacturing unit next month despite awaiting a gas connection to the industrial estate.
Bangladesh requires non-biological APIs worth Tk 65.00 billion annually. Presently, six companies, including Square Pharmaceuticals and Incepta Pharmaceuticals, manufacture APIs worth Tk 20 billion.
The API Park, established on 200 acres of land by the Bangladesh Small & Cottage Industries Corporation (BSCIC), aims to provide gas connections shortly, facilitating the operations of industrial units within the park.
Four companies, ACME Laboratories, Healthcare Pharmaceuticals, Ibn Sina Pharmaceuticals, and UniMed UniHealth Fine Chemicals, have already set up factories in the park.
However, challenges remain, as many entrepreneurs have delayed factory setups due to the lack of gas connections and financial constraints. Manufacturers also face patent issues and a wide range of APIs, hindering the achievement of 100 percent self-sufficiency.
