Local cos expect to add over 300 drugs to Myanmar export list by year-end

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Jasim Uddin Haroon
The country's pharmaceutical manufacturers said Friday they expect to export more than 300 new drugs totaling around 600 to Myanmar by the end of this year.
They see high demand of Bangladeshi pharmaceutical products in Myanmar following a government move to ease procedures and relax conditions relating to registration of dugs and their marketing abroad.
Local drug manufacturers had already applied for registration of more than 300 new products in Myanmar.
Beximco Pharmaceuticals Ltd, a leading local drug manufacture, has alone applied for registration of 100 new drugs while six to seven companies seek to export more than 200 products.
Local drug manufacturers said Myanmar government, the single largest export destination for Bangladeshi drugs, has been showing interest in the pharmaceutical products mainly due to their quality and reliability.
Myanmar has one government-owned pharmaceutical factory and the country depends on imports from India, Thailand and China.
Bangladesh's leading pharmaceutical companies export all kinds of drugs ranging from antibiotic to anti-diabetes.
Nazmul Hasan, Chief Executive Officer of Beximco Pharma, told the FE that there were huge demand for local pharmaceutical products in Myanmar and his company has been exporting its products over the past six to seven years.
He also said: "Bangladesh's drug export to Myanmar might reach US$ 30 million by 2010."
Mr Nazmul, who is also general secretary of Bangladesh Association of Pharmaceutical Industries (BAPI), said Myanmar business delegation that visited here recently called for further exploring drug market there.
He expressed that hope that Bangladesh will emerge as number one drug exporting country within few years.
He also said: "We have requested the Myanmar team to take measures against drug smuggling and make speedy laboratory tests to raise drug export by Bangladesh."
Bangladesh and Myanmar have agreed to raise the volume of bilateral trade to $500 million from $100 million a year.
Syed Mahmudul Huq, chairman of Bangladesh-Myanmar Business Promotion Council (BMBPC) told the FE that Myanmar wants to build pharmacutucal plants in Myanmar under joint venture.
He said: "Bangladesh's exports, especially the drugs, will definitely rise in Myanmar as there is a demand for Bangladeshi products."
Bangladesh's Beximco Pharma, Square Pharmaceuticals, ACI, Opsonin, General Pharmaceuticals, SKF and Ibn Sina are now exporting their drugs to the neighboring country.
Bangladesh exported drugs worth $43.0 million in fiscal 2007-08, a 53.75 per cent growth over the previous year, of which the products worth $ 2.5 million went to Myanmar.