The progress of pharmaceutical industries was affected seriously owing to political unrest in the October-December period of last year. As a result, leading pharmaceutical companies incurred heavy losses instead of earning profits. The companies' plans and programmes were completely shattered because of the countrywide blockade and political unrest. The growth of the pharmaceutical sector was recorded at only 6.5 per cent in three months of October, November and December. This was really disappointing. Despite political turmoil and frequent blockade, only leading companies could earn some amounts of money, thanks to their acumen and efficiency.
Statistics show that the annual growth of pharmaceuticals stood at nearly 8.1 per cent and only one per cent was contributed to the GDP of our country. There had been a double digit growth in pharmaceuticals since 2009. In the recent years, except in 2013, the sector grew at the rate of more than 20 per cent annually.
Many pharmaceutical companies had to stop supplying drugs across the country after arson on their vehicles. Usually most companies carry their medicines by their vehicles and supply drugs to different parts of the country. The political turmoil had the supply chain of medicines broken down in the later part of 2013.
Many pharmaceutical companies are still in trouble due to excessive higher interest on their bank loans. They could have paid their interest in time but could not for obvious reasons like drastic fall in sales.
Almost all pharmaceutical companies including leading one are now determined to overcome their financial losses by exporting more drugs this year. They are seeking help from the government and the opposition parties so that further unrest doesn't happen. Political stability is now the crying need for the pharmaceutical sector to flourish.
The writer is a student of the Department of Statistics, Islamic University, Kushtia, Bangladesh.
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