Prospect of drug export

Dhaka,  Fri,  23 June 2017
Published : 12 Jun 2017, 19:43:24
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Prospect of drug export

When 54 pharmaceutical companies of the country are exporting medicines to 127 countries and the most desirable markets are opening up soon, they could have avoided going for such time-to-time arbitrary increase in drug prices. After all, their profits abroad will more than compensate for the small profits in domestic market
It is not surprising that the pharmaceutical companies in the country are counting on rosy days. All because export of medicines is going up in leaps and bounds. And this is just the beginning, more are to come. In the year 2016, the country's drug industry recorded as much a rise as123 per cent compared to its previous year. When the drug companies that have already obtained licences from the Food and Drug Administration of the United States of America -a feat by itself, start exporting medicines to that country, Bangladesh's drug export will receive a tremendous boost. Even more significantly, the FDA licence opens up the possibility of exporting medicines to anywhere in the world. Issuance of such a licence means the attainment of the highest possible quality. Already two local companies have received this ultimate approval and more are queuing for the same. 

If and when this happens, the export trajectory will soar even higher. Its impact will be no less than an economic revolution of sort. Indeed drug industry here stands the prospect of surpassing the earning even by the readymade garments (RMG). Pharmaceutical production is not labour-intensive. Value addition is mechanically done. In this industry the value added is far greater than that of RMG. So, this is a good tiding for the country, particularly after the detection of more than two dozens of errant pharmaceutical companies and cancellation of some of their licences and restriction imposed on some ohers' productions. Punitive action like this has ensured survival of the fittest in the competition market. If only similar stringent measures could be applied to other areas as well, particularly to food producers! Maintenance of quality should be the prime concern whether it involves drug manufacture or food production. One thing is clear that if the authorities press for quality maintenance, the producers can respond positively. This is a sure sign of taking the country's economy ahead.

So far as domestic consumers of either food or medicines are concerned, the casual approach to the production of both items still persists. Or, else spurious medicines and adulterated foods would have by now been a thing of the past. In fact, people here are suspicious of foods prepared even in posh restaurants. The general lack of cleanliness and sanitation is representative of an undesirable mentality. There is a need for overcoming this mental block before celebrating the news that Bangladeshi companies have earned the confidence of as demanding a body as the US FDA. 

On the downside, though, the drug companies in general here seem to have decided to return the complements from its citizens by raising its prices relentlessly. It should have been the other way round. When 54 pharmaceutical companies of the country are exporting medicines to 127 countries and the most desirable markets are opening up soon, they could have avoided going for such time-to-time arbitrary increase in drug prices. After all, their profits abroad will more than compensate for the small profits in domestic market. The drug companies also should have some obligation to the poor consumers of their products.  

 
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Editor : A.H.M Moazzem Hossain
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