Local biotech drugs make their mark

Shamsul Huda | Published: June 17, 2014 00:00:00 | Updated: November 30, 2024 06:01:00

New-generation biotechnology-based pharmaceutical products of world standards are being manufactured by a good number of leading local companies, industry sources said about the advances in the field.
The pharmaceutical companies' investments in producing biotech-based products are leading the local industry into upgrading Bangladesh to the status of a new-generation drug-manufacturing country. The products include, among others, insulin, vaccines, hormones, erythropoietin, filgrastim, glargine, peg-interferon alpha and insulin crystal.
Currently, Renata, Aristopharma, Healthcare, Popular, Incepta, Eskayef, Square are among the leading firms producing biotechnology-based pharmaceuticals.
According to a source in Bangladesh Association of Pharmaceutical Industry (BAPI), the investment figure in producing biotech products by the local industries has already crossed Tk 2.0 billion. New firms are thinking about investing in this field.
The number of essential drugs on the market has otherwise been decreasing day by day and the people have been paying higher prices for purchasing decontrolled, essential list-excluded drugs, according to sources. But, due to new high-tech formulations, they are now getting world-class drugs close by their reach, the sources added.
A source in Bangladesh Pharmaceuticals Society (BPS) said, "It is good for our local market that new drugs are taking over the imparted ones in treatment. But, for reasonable prices and maintaining quality, import should be allowed for high-tech at a certain limit and time," the sources said.
He said as Bangladesh is still at an infant stage of producing biotechnological new drugs, so, for comparison in quality as well as avoiding monopoly by several companies, import should not be stopped in case of several items in the name of protecting local investment.
He said currently, as per changing patterns of treatment, it is estimated that the market share for biotech drugs is 30 per cent of the total share. And it is now on the increase.
A source in the drug administration said, "In line with growing demand for biotech products, the government is still allowing import of some items. But, for the sake of local investment, the current status may be changed."
He said some of the leading companies who have international recognition in manufacturing high technology-based drugs, both for local and export market, are testing the biotech products in foreign labs.
The government is also trying to ensure the quality of locally manufactured hormones, insulin, vaccines and some other biotech drugs used for treating critical patients.
The BAPI source said the US$1.0-billion-plus domestic market is growing every day.
It said within the next two years the local market size would cross $1.72 billion and new investments would take place in manufacturing new generic formulations mostly in biotechnology-based products.
Biotechnology drugs, in parallel with chemical-based products, are advancing ahead across the globe and its demands are also rising on the local market.