Pharmaceutical industry in Bangladesh

Pharmaceutical industry in Bangladesh

The Pharmaceutical industry in Bangladesh is one of the most developed sectors within the country's economy. This industry contributes significantly to the country's GDP and employment. The industry is regulated by the Directorate General of Drug Administration (DGDA) and is compliant with the World Health Organization's Good Manufacturing Practices (GMP).

History

The pharmaceutical industry in Bangladesh traces its origins back to the early 1950s when the country was still a part of Pakistan. The industry has since grown exponentially, with the establishment of numerous pharmaceutical companies, both local and multinational.

Current Status

Today, the pharmaceutical industry in Bangladesh is dominated by local companies, with the top ten pharmaceutical companies being Bangladeshi. These companies produce a wide range of pharmaceutical products, including generic drugs, branded drugs, and over-the-counter drugs. The industry also exports to many countries around the world.

Regulation

The pharmaceutical industry in Bangladesh is regulated by the Directorate General of Drug Administration (DGDA), which ensures that all pharmaceutical products manufactured and sold in the country meet the necessary quality standards. The DGDA also oversees the registration of new drugs and the licensing of pharmaceutical companies.

Challenges and Opportunities

Despite its growth, the pharmaceutical industry in Bangladesh faces several challenges, including a lack of research and development facilities, a dependence on imported raw materials, and a need for more skilled manpower. However, the industry also presents several opportunities, such as the potential for increased exports and the development of new drugs.

See Also

• Economy of Bangladesh
• Healthcare in Bangladesh
• List of pharmaceutical companies in Bangladesh