Bangladesh’s pharmaceuticals sector is rebounding on the back of smooth imports of raw materials, a well-maintained supply chain, and a higher opening of letters of credit, highlighting the recovery following challenges over the last two years, industry people say.
Manufacturers of cancer medicines will be able to sell the lifesaving drugs at reasonable prices after the National Board of Revenue (NBR) extended duty-free import benefits to 100 more raw materials used to make such products.
Pharmaceutical shipments from Bangladesh are slowly making a turnaround with a gradual improvement in the global US dollar crisis, according to drug exporters.
Medicine exports to the developed countries are steadily growing riding on the attainment of regulatory approval from the US, European and some other countries helped by Bangladesh’s capacity to produce high-quality drugs at affordable prices.
Anti-ulcer drugs are the top-selling medicines in Bangladesh with sales clocking more than 12 per cent growth annually since 2015 driven by unhealthy food habits, use of excess oil and spices in food preparation and food adulteration.