Pharma sector needs separate export policy
FE Report | Saturday, 9 April 2011
FE Report
The existing government policies are not adequately conducive to the export of Bangladeshi pharmaceutical products, a ruling party lawmaker said Friday at a function in the city. "Perhaps pharmaceuticals is the only sector which is facing a lot of obstacles as far as export is concerned," said Nazmul Hassan, MP, at a seminar on the eve of the annual general meeting of Bangladesh Society for Pharmaceutical Professionals (BSPP). "If we have to pay a big amount to the government for the registration of one product for the purpose of export then it's not cost effective," he added. Mr Nazmul said the government's intention to curb money laundering by discouraging more overseas investment should not be applicable for the pharmaceutical sector, adding "there must be a separate export policy for pharma sector as we have to register one product at a large cost and then invest for its promotion and other purposes in the importing country." MP Nazmul, also managing director of country's leading Beximco Pharmaceuticals Ltd, was speaking as the chief guest of the seminar organized by the BSPP at the BIAM Auditorium with its acting president Professor Dr Ishtiaq Mahmud in the chair. Abdul Khaleque, chairman of department of life science of North South University presented the keynote paper at the seminar titled 'Biotechnology and Its Application in Pharmaceutical Industries in Bangladesh'. Biotechnology is a field of applied biology that involves the use of living organisms and bioprocess in engineering, technology, medicine and other fields requiring bioproducts. In his keynote paper Mr Khaleq said biological products often represent the cutting edge of medical science and research. "Biological products replicate natural substances such as enzymes, antibodies or hormones in our bodies as these are complex mixtures of natural substances where most of the conventional drugs are pure chemical mixtures," he said. Mr Khaleq said as a developing country Bangladeshi biotechnology field is not big while the global market biotech products are growing day by day, adding few big pharma companies of the country are working in the field now a days. He identified lack of technological support, experts, facilities for the experts, unavailability of raw materials, lab facilities, infrastructure and high cost of production as the barriers for the underdevelopment of the sector in Bangladesh. Mr Khaleq recommended more research and development (R&D) in the pharmaceutical companies for biotech drugs, attracting expatriate Bangladeshi scientist to stay in Bangladesh, academic research funding, collaboration with foreign companies to gradually achieve expertise in the sector. Regarding the initiative to bring back the Bangladeshi expatriate scientist Nazmul Hassan said it is somewhat difficult as most of those scientists are not alone to come back to homeland. "Very often their children do not want to come back as they are already in their academic institutions where facilities and environment are better," he added. He said the expatriate scientists offer for a part time job contract and asks for fat amount of remuneration which often is not possible for the local entrepreneurs to afford.
The existing government policies are not adequately conducive to the export of Bangladeshi pharmaceutical products, a ruling party lawmaker said Friday at a function in the city. "Perhaps pharmaceuticals is the only sector which is facing a lot of obstacles as far as export is concerned," said Nazmul Hassan, MP, at a seminar on the eve of the annual general meeting of Bangladesh Society for Pharmaceutical Professionals (BSPP). "If we have to pay a big amount to the government for the registration of one product for the purpose of export then it's not cost effective," he added. Mr Nazmul said the government's intention to curb money laundering by discouraging more overseas investment should not be applicable for the pharmaceutical sector, adding "there must be a separate export policy for pharma sector as we have to register one product at a large cost and then invest for its promotion and other purposes in the importing country." MP Nazmul, also managing director of country's leading Beximco Pharmaceuticals Ltd, was speaking as the chief guest of the seminar organized by the BSPP at the BIAM Auditorium with its acting president Professor Dr Ishtiaq Mahmud in the chair. Abdul Khaleque, chairman of department of life science of North South University presented the keynote paper at the seminar titled 'Biotechnology and Its Application in Pharmaceutical Industries in Bangladesh'. Biotechnology is a field of applied biology that involves the use of living organisms and bioprocess in engineering, technology, medicine and other fields requiring bioproducts. In his keynote paper Mr Khaleq said biological products often represent the cutting edge of medical science and research. "Biological products replicate natural substances such as enzymes, antibodies or hormones in our bodies as these are complex mixtures of natural substances where most of the conventional drugs are pure chemical mixtures," he said. Mr Khaleq said as a developing country Bangladeshi biotechnology field is not big while the global market biotech products are growing day by day, adding few big pharma companies of the country are working in the field now a days. He identified lack of technological support, experts, facilities for the experts, unavailability of raw materials, lab facilities, infrastructure and high cost of production as the barriers for the underdevelopment of the sector in Bangladesh. Mr Khaleq recommended more research and development (R&D) in the pharmaceutical companies for biotech drugs, attracting expatriate Bangladeshi scientist to stay in Bangladesh, academic research funding, collaboration with foreign companies to gradually achieve expertise in the sector. Regarding the initiative to bring back the Bangladeshi expatriate scientist Nazmul Hassan said it is somewhat difficult as most of those scientists are not alone to come back to homeland. "Very often their children do not want to come back as they are already in their academic institutions where facilities and environment are better," he added. He said the expatriate scientists offer for a part time job contract and asks for fat amount of remuneration which often is not possible for the local entrepreneurs to afford.