Bangladesh can export drugs worth Tk200 billion a year if the local medicine makers upgrade their facilities to a level that'll enable them to do contract manufacturing for foreign pharmaceuticals, experts said Sunday. Drug manufacturing is becoming costly in the highly regulated western market, prompting major pharmaceutical companies to contract out drug making to companies in low-cost countries.
"Contract manufacturing is one of the major growth areas in global drug industry. And Bangladeshi companies can be one of the major beneficiaries of the fast growing sector," said ABM Faroque, president of Bangladesh Pharmaceuticals Society (BPS). "The country's top 10-12 drug makers have state-of-the-art drug plants and if they upgrade their facilities further, they'll be in a position to sign lucrative contract manufacturing deals with foreign companies," said Faroque, also a professor of pharmaceutical technology at Dhaka University.
Read more, source: The Financial Express