Biocon expects to see significant growth in Bangladesh given its extensive product portfolio. Having collaborations with all the major pharmaceutical companies in the country and by leveraging these mutually beneficial relationships, Biocon is confident of increasing market presence, said Rakesh Bamzai, president, marketing, Biocon Ltd in an interaction with Nandita Vijay.
Entry to Bangladesh market and the products marketed there
Biocon entered the Bangladesh market with pharmaceutical products more than a decade ago. Currently Biocon offers the entire range of biopharmaceutical products in this market, which includes Insulins, Biologicals, Statins etc.
The kind of drugs that Bangladesh companies looking from India
Bangladesh has a strong indigenous pharmaceutical manufacturing base. The country currently imports majority of their APIs (Active Pharmaceutical Ingredients) and biological drugs requirements from India.
Growth prospects for the company in Bangladesh
Biocon expects to see significant growth in Bangladesh given its extensive product portfolio. We have collaborations with all the major pharmaceutical companies in the country. By leveraging these mutually beneficial relationships, Biocon is confident to increase market presence there.
The regions in Bangladesh that Biocon is present Biocon is present in all major regions of Bangladesh.
Competition for the company from these markets
We compete with other pharmaceutical manufacturers across the globe.
Market size of Bangladesh pharma market
IMS estimates the pharmaceutical market size in Bangladesh to be about USD2 billion.
Future efforts to expand opportunities here
Biocon is currently focusing on expanding its partnership base with all top pharmaceutical companies to consolidate our presence. With ourproduct range of complex small molecules as well as biologics, we are also aiming to consolidate our presence in the biopharmaceutical space.
The current scene in Bangladesh and the visible trends
Bangladesh is an interesting opportunity for Indian pharmaceutical companies. With a high CAGR in pharmaceutical industry in last five years and with partnerships with top five companies that control 50 per cent of the market, Biocon sees a positive prospect of increasing the presence in the country.