With the demand for active pharma ingredients and intermediates on the rise day-by-day, Bangladesh offers a huge opportunity for leading Indian companies concentrating on these areas to make it big in the region's market.
In general, the Bangla market is opening up in a big way and the global companies are increasingly making their presence felt in the region. But the region's demand is limited to formulation imports, which indicate that there is a huge potential for bulk drugs.
The region has a fairly huge formulation business with several multinational companies and local units dominating the market. The total number of units in the region would come around 300 and therefore a comprehensive range of bulk drugs are sourced for the formulations development.
Usually Bangla source a range of bulk drugs from China and India. However, bulk drugs from China are preferred by the local units because of the low price. But the multinational companies insist on quality standards and this is where bulk drugs from India pharma companies stand to gain.
It is possible for bulk drug manufacturers from India to trade in the region only if their range of drugs figures in the Block List compiled by the Bangladesh Pharma Association. Hence, it is crucial for the exporters to have a constant rapport with the industry and related trading agencies in Bangladesh. However many Indian companies are reluctant to enter the region because the rates are not remunerative, informed industry sources.
The country being a signatory to the Doha Agreement can manufacture drugs under patent up to 2016 and sell it to developed countries. Bulk drug exporters could capitalise on the advantage.
The pharma industry in Bangladesh is growing at 15 per cent annually. The leading players are Beximco Pharmaceuticals, Amico Laboratories, Square Pharmaceuticals, Aristopharma ACME Laboratories, Eskayef Bangladesh, Incepta Pharmaceuticals to name a few.
The leading players from India who continue to have a presence in the region are Bal Pharma, Micro Labs, Biocon, Aurobindo Pharma, Sun Pharma, Ranbaxy, Lupin Ltd and JB Chemicals.