JBS Vol 15. Num 1. 2013 - Opportunities and Challenges of the Pharmaceutical Sector in Bangladesh

Shirin Sharmin

Pharmaceutical sector is one of the most developed sectors in Bangladesh contributing to the country’s economy. With an annual turnover of around BDT 840 million (as of 2011), this is one of the fastest growing sectors in the country. Among the 49 least developed countries (LDCs), Bangladesh is the only country that is nearly self-sufficient in producing pharmaceutical products. This sector started flourishing after the 70’s and its growth rate is remarkable. As a least developed country, Bangladesh is getting the benefit of producing and marketing drugs in TRIPs-related patent regimes. As this period is going to expire in 2016, a serious threat is looming for  Bangladesh. The study used primary survey data collected from fifty one participants related to the pharmaceutical industry (physicians, manufacturers, pharmacists, sales persons and other stakeholders). Secondary data available from websites, books, newspaper and journals have also been used. This paper highlights the present scenario of the pharmaceutical industry in Bangladesh, emerging opportunities and the probable challenges it faces. The findings are expected to help potential investors and stakeholders of the pharmaceutical companies in Bangladesh.