Internationalization of Pharmaceutical Products of Bangladesh

Introduction:
In Bangladesh Pharmaceutical sector is one of the most developed hi tech sector which is contributing in the country's economy. After the promulgation of Drug Control Ordinance 1982, the development of this sector was accelerated. The professional knowledge, thoughts and innovative ideas of the pharmacists working in this sector are the key factors for these developments. Due to recent development of this sector we are exporting medicines to global market including European market. This sector is also providing 95% of the total medicine requirement of the local market. Leading Pharmaceutical Companies are expanding their business with the aim to expand export market. Recently few new industries have been established with hi tech equipments and professionals which will enhance the strength of this sector.

Objectives:
the current market condition of pharmaceutical products Identify the international market demand Identify Analyze the current situation of Bangladesh regarding exportation of pharmaceutical products Specify the constraints regarding raw materials and atmosphere

Literature Review:
What is pharmaceutical product
A pharmaceutical drug, also referred to as medicine or medicament, can be loosely defined as any substance intended for use in the diagnosis, cure, mitigation, treatment, or prevention of diseases| Other synonyms include pharmacotherapy, pharmacotherapeutics, and drug treatmentA drug, broadly speaking, is any substance that, when absorbed into the body of a living organism, alters normal bodily function.|There is no single, precise definition, as there are different meanings in drug control law, government regulations, medicine, and colloquial usage.| In pharmacology, Dictionary.com defines a drug as "a chemical substance used in the treatment, cure, prevention, or diagnosis of disease or used to otherwise enhance physical or mental wellbeing."| Drugs may be prescribed for a limited duration, or on a regular basis for chronic disorders

Recreational drugs are chemical substances that affect the central nervous system, such as | hallucinogens[ They may be used for perceived beneficial effects on perception, consciousness, personality, and behavior Some drugs can cause addiction and habituation.| Drugs are usually distinguished from endogenous biochemicals by being introduced from outside the organism. For example, insulin is a hormone that is synthesized in the body; it is called a hormone when it is synthesized by the pancreas inside the body, but if it is introduced into the body from outside, it is called a drug. Many natural substances such as beers, wines, and some mushrooms, blur the line between food and drugs, as when ingested they affect the functioning of both mind and body. .

Classification
Medications can be classified in various ways such as by chemical properties, mode of administration, biological system affected, or therapeutic effects. An elaborate and widely used classification system is the Anatomical Therapeutic Chemical Classification System (ATC system). The World Health Organization keeps a list of essential medicines. A sampling of classes of medicine includes: 1. 2. 3. 4. 5. \ Antipyretics: reducing fever (pyrexia/pyresis) Analgesics: painkillers Antimalarial drugs: treating malaria Antibiotics: inhibiting germ growth Antiseptics: prevention of germ growth near burns, cuts and wounds

Industry:
Industry Description Companies that research, develop, produce, and sell chemical or biological substances for medical or veterinary use, including prescription, generic and OTC drugs; vitamins and nutritional supplements; drug delivery systems and diagnostic substances; and related products, equipment, and services, including distribution and wholesale. The pharmaceutical industry develops, produces, and markets drugs licensed for use as medications. Pharmaceutical companies can deal in generic and/or brand medications. They are subject to a variety of laws and regulations regarding the patenting, testing and marketing of |

History of Pharmaceutical

For most of the nineteenth century, drugs were not highly effective, leading Oliver Wendell Holmes, Sr. to famously comment in 1842 that "if all medicines in the world were thrown into the sea, it would be all the better for mankind and all the worse for the fishes".|:21 Medicines commonly used by the late 1920s included aspirin, codeine, and morphine for pain; digitalis, nitroglycerin, and quinine for heart disorders, and insulin for diabetes. Other drugs included antitoxins, a few biological vaccines, and a few synthetic drugs. In the 1930s antibiotics emerged: first sulfa drugs, then penicillin and other antibiotics. Drugs increasingly became "the center of medical practice In the 1950s other drugs emerged including corticosteroids for inflammation, rauwolfia alkloids as tranqulizers and antihypertensives, antihistamines for nasal allergies, xanthines for asthma, and typical antipsychotics for psychosis| As of 2008, thousands of approved drugs have been developed. Increasingly, biotechnology is used to discover biopharmaceuticals Governments have been heavily involved in the development and sale of drugs. In the U.S., the Elixir Sulfanilamide disaster led to the establishment of the Food and Drug Administration, and the 1938 Federal Food, Drug, and Cosmetic Act required manufacturers to file new drugs with the FDA. The 1951 Humphrey-Durham Amendment required certain drugs to be sold by prescription. In 1962 a subsequent amendment required new drugs to be tested for efficacy and safety in clinical trials.| Until the 1970s, drug prices were not a major concern for doctors and patients. As more drugs became prescribed for chronic illnesses, however, costs became burdensome, and by the 1970s nearly every U.S. state required or encouraged the substitution of generic drugs for higher-priced brand names. This also led to the 2006 U.S. law, Medicare Part D, which offers Medicare coverage for drug| As of 2008, the United States is the leader in medical research, including pharmaceutical development. U.S. drug prices are among the highest in the world, and drug innovation is correspondingly high. In 2000 U.S. based firms developed 29 of the 75 top-selling drugs; firms from the second-largest market, Japan, developed eight, and the United Kingdom contributed 10. France, which imposes price controls, developed three. Throughout the 1990s outcomes were similar.

Pharmaceutical in Bangladesh:
In Bangladesh Pharmaceutical sector is one of the most developed hi tech sector which is contributing in the country's economy. After the promulgation of Drug Control Ordinance 1982, the development of this sector was accelerated. The professional knowledge, thoughts and innovative ideas of the pharmacists working in this sector are the key factors for this developments. Due to recent development of this sector we are exporting medicines to global market including European market. This sector is also providing 95% of the total medicine requirement of the local market. Leading Pharmaceutical Companies are expanding their business with the aim to expand export market. Recently few new industries have been

established with hi tech equipments and professionals which will enhance the strength of this sector. Bangladesh, currently having more than a couple of hundred manufacturing facilities with huge potential in pharmaceutical formulations, is heading on a new path of industry economics for self-reliance. Aiming at minimizing the import dependency on basic drugs, the country's prime concern is about building up of own capability in the manufacturing of active pharmaceutical ingredients(APIs), base materials and other allied industry inputs. In the diagram we see that pharmaceutical sector is capturing near about 12% of market capitalization which is the second largest. This position also indicates the positive sign for investment in pharmaceutical sector. The combined capacity of the industry for the pharmaceutical formulation is huge and a number of companies have recently got approval from UNICEF as its global as well as local supplier of pharmaceutical products. Besides, out of the total domestic requirement of medicines almost 95 per cent is met by the local manufacturing and Bangladesh also exports formulations to 27 countries around the world. The current turnover of the industry in Bangladesh is Tk. 3,000 crore. According to industry sources, the formulation industry in Bangladesh currently grows at the rate of 22 per cent. With this estimate, the expected business in year 2005 is 50,000 million Tk. Today, Bangladesh is dealing with USA, India, China, Taiwan, Hong Kong, European Union, Singapore, Malaysia, Pakistan, Sri Lanka, Thailand, Burma, Bhutan, Nepal, Yemen, Mauritius, Vietnam, Kampuchea, Laos, Mexico, Columbia, Ecuador, Kuraso Russia, Uzbekistan, Tazakistan, Kenya, Tunisia, Maldives, etc. as well as with the least developing countries where there is hardly any industry for the production of pharmaceutical formulations. Turnover from pharmaceutical sector is encouraging which is about 14% of total industry turnover is. This position also indicates the positive sign for investment in pharmaceutical sector. Though the country has all the potential to become a major global source of APIs and will also be able to produce drugs, which are still under patent protection, as the TRIPS Council meet at Doha has declared the least developed country (LDC) status to remain without patent regime till 2016, it needs active participation and contribution from local as well as foreign companies to build upon the capability. However, the trend now seems to be favorable to the country as the domestic pharmaceutical

industry as well as the companies from neighboring countries like India, China and even MNCs have queued up to put in investments on this front as every stakeholder will benefit of vast potential that Bangladesh can offer. The local entrepreneurs are capable and willing to invest and collaborate with suitable foreign partners in order to develop the existing API manufacturing facilities. According to S M Shafiuzzaman, president, Bangladesh Aushad Shilpa Samity (Bangladesh Association of Pharmaceutical Industries - BAPI), since 1972 the Association has been the only recognized association for pharmaceutical manufacturers in Bangladesh playing pivotal role in the development of pharmaceutical sector. BAPI, as the apex and premier pharmaceutical trade and promotion body of Bangladesh, has been very actively working on the industry development programs to enhance the existing capabilities and also to promote the country's industrial opportunities among the developed world by attract prospective collaborators in terms of technology, product sourcing, infrastructure etc. Presently top pharmaceutical companies in Bangladesh are also in the process of getting into bulk drug production with collaborative technology, technology transfers and joint venture basis. The large-scale players in the Bangladesh pharmaceutical industry currently include Square Pharma, Beximco, Alma, Apson Chemicals, FEI, Araneta, General Pharma, Hudson Pharma and SKF among others. The MNCs that have a major presence in the country's pharma sector are Aventis, Pfizer, Novartis and Astra Zeneca. (Industry Analysis of Bangladesh Pharmaceutical Sector (Part 3) )

Top Pharmaceuticals Industry Competitors Alexza Pharmaceuticals, Inc. Alexza Pharmaceuticals has found that some good can come out of smoking cigarettes. Though they deliver harmful chemicals, cigarettes deliver those chemicals almost instantly. That is the basis for Alexza Pharmaceutical's primary product, Staccato inhalers. Allon Therapeutics Inc. Allon Therapeutics is firing up every cylinder to get going. Allon Therapeutics develops treatments for neurodegenerative diseases that lead to memory loss and cognitive impairment. Lead candidate AL-108 could treat Alzheimer's disease as well as stroke, traumatic brain injury, and multiple sclerosis. Australian Pharmaceutical Industries Limited

Australian Pharmaceutical Industries (API) ensures that residents of the land down under have the health care and beauty products they need. The company provides a variety of pharmaceutical services through its retail, manufacturing, and pharmacy distribution divisions. Bayer HealthCare AG Bayer Healthcare takes disease very seriously. Focused on the discovery and manufacture of products used to diagnose, prevent, and treat disease, the company serves the health needs of people and animals worldwide. Bayer HealthCare operates through four divisions: Animal Health (veterinary drugs); Consumer Care (OTC meds); Diabetes Care; and Pharmaceuticals (represented by Bayer-Schering Pharma and Bayer Healthcare Pharmaceuticals). China Pharmaceuticals International Corporation China Pharmaceuticals International is a development stage company controlled by Hong Kongbased China Merchant DiChain Investment Holdings. Formerly Wilmington Rexford, the company had owned a portfolio of e-commerce operations, including EntertainMe.com, which offers movies, music and retail electronics, and Langara Distribution, which provides fulfillment services. GlaxoSmithKline Argentina S.A. Improving health is pure gold in the land whose name means silver. GlaxoSmithKline Argentina has manufacturing and supply operations, as well as units devoted to consumer healthcare (dermatological, analgesic, oral care, gastrointestinal relief, and vitamin products) and to pharmaceutical products (anesthetic, antibiotic, oncologic, respiratory, and other drugs, as well as vaccines). GlaxoSmithKline S.p.A. Sano is top-of-mind at GlaxoSmithKline S.p.A., or GSK Italy, the Italian unit of pharmaceutical giant GlaxoSmithKline. GSK Italy has several subsidiaries. The company's operations include manufacturing facilities in Parma and Verona, a consumer healthcare unit devoted to popular consumer products and over-the-counter drugs, and generic drugmaker Allen. Grifols, Inc. Grifols has a good grip on the healthcare industry. The company provides products and services through three primary divisions: bioscience, diagnostic, and hospital. The bioscience division processes plasma from the company's collection centers into therapeutic derivative products such as coagulation factors and liver dialysis products. Hana Biosciences, Inc.

Hana Biosciences is fighting the good fight against the big "C." The development stage pharmaceutical company is looking to acquire and develop new drugs with a focus on cancer treatments. Its lead product PT-523 treats solid tumors by preventing DNA synthesis in target cells thereby preventing tumor growth. Laureate Pharma, Inc. Laureate Pharma's protein purification and other production processes are pure poetry in motion. The contract manufacturing organization develops, manufactures, and packages products used by pharmaceutical and biopharmaceutical companies to make drugs. The company's biopharmaceutical division specializes in making monoclonal antibodies and provides protein production and purification. Marligen Biosciences, Inc. Marligen Biosciences is where researchers go again and again for testing products and services. The company makes nucleic acid purification systems, genetic analysis assays, and other genomics research supplies. Its nucleic acid purification systems include rapid plasma purification systems which are used for isolation DNA so it can mapped, cloned, amplified, labeled, sequenced. Pharmaxis Ltd Pharmaxis has an Bunyan-sized axe to grind with chronic respiratory and autoimmune diseases. The Australian company researches, develops, and aids in marketing therapeutic pharmaceutical products to combat these and other illnesses. Some of the company's top product candidates include Aridol (an asthma treatment), Bronchitol (a treatment for cystic fibrosis and chronic obstructive pulmonary disease), and PXS2076 (developed to treat rheumatoid arthritis).... Shanghai Pharmaceutical (Group) Co., Ltd Shanghai Pharmaceutical Group, or SPGC, knows that Big Pharma is big business. China's oldest and largest pharmaceutical company, SPGC makes more than 5,000 products including antibiotics, anti-psychotic drugs, over the counter (OTC) medicines, prescription drugs, and traditional Chinese medicine. Biodel Inc. Biodel delves into the development of viable treatments for endocrine disorders. The company uses its VIAdel biological technology to reformulate and administer existing peptide drugs. Its two main product candidates are in clinical trials for treating diabetes. Pharmaceuticals Industry Competitors by Hoovers

Bangladesh Becomes Global Hub of Medicines Mar. 25, 2009 (The Korea Times) The pharmaceutical sector in Bangladesh, one of the fastest growing sectors of the economy, is poised to transform the country into a global hub of quality medicines. The $700 million sector with more than 230 manufacturers is continuously expanding with new products to new international destinations. The export value of pharmaceuticals is small but growing at 50 percent per year. Exports increased from $8.2 million in 2004 to $28.3 million in 2007, while export destinations climbed from 37 countries to 72 during the period. The industrys inception dates back to the 1950s when a few multinationals and local entrepreneurs started with manufacturing facilities in the then East Pakistan. By 1982, many top ranking multinationals established their manufacturing facilities in this part of the world. Prominent among them were Pfizer (NYSE:PFE) , Glaxo, Fisons, Squibb, Hoechst, ICI, May & Baker and Organon. Pharmaceutical industries in Bangladesh are gifted with unparalleled potential to grow in the days ahead as they enjoy a number of competitive advantages. The industrys ability to comply with guidelines of quality assurance has put it on a solid base. Almost all companies are equipped with World Health Organization (WHO) Good Manufacturing Practice (GMP) standards. Bangladeshs ability to face competition from developing countries like India, China, Brazil and Turkey in its export markets is due to Bangladesh pharmaceuticals strict quality compliance. The most important indicator is the capability of the industry to achieve excellence and go beyond general international standards. A good number of companies including Square Pharma, Renata and Eskayef have won accreditation from the U.K. Medicines and Healthcare Products Regulatory Agency (MHRA). Incepta and Beximco Pharma have been accredited by EMEA (Austria) and the Therapeutic Goods Administration (TGA-Australia), respectively. These accreditations will allow them to enter the lucrative market with very competitive prices and standards as reputed global players. The government of Bangladesh emphasizes on its national drug policy that all the pharmaceutical manufacturers must strictly comply with thee standards. The Current Good Manufacturing Practice (cGMP) is a term recognized worldwide as a holistic approach for the control and management of manufacturing and quality control testing of food and pharmaceutical products.

Bangladeshi pharmaceutical industries are expanding exportable items quite fast. Bangladesh is now exporting wide range of pharmaceutical products covering all major therapeutic classes and dosage forms like tablets, capsules and syrups. Bangladesh is also exporting high-tech specialized products like, HFA, inhalers, suppositories, hormones, steroids, oncology, immunosuppressant products, nasal sprays, injectibles and IV infusions. The sector enjoys sound footing due to the local pull of heavy demand for medicines by the countrys 150 million people. The industries are now producing quality medicines at an affordable price for millions of people in Bangladesh and has made Bangladesh almost self reliant in pharmaceutical products. Now, 97 percent of local demand for medicines is met by the sector. Major epidemics of Bangladesh are malaria, dengue fever, cholera and typhoid. Morbidity and mortality from these scourges has also been reduced substantially over the years in Bangladesh. Increased affordability and availability of medicines have contributed to this achievement. Bangladesh now has an average life expectancy of 61 years, which is at the top end in South Asia. Growth in local demand will naturally follow increases in per capita income. Per capita consumption of medicines is one of the lowest in South Asia. The industry welcomed over 50 new factories in the last three years, of which about two dozen started marketing with an aggressive sales and promotion strategy during 2008. Out of 230 companies, 200 have their own manufacturing facilities of which five are multinationals. The sector is active in API (active pharmaceutical ingredients). Twenty-one different companies now locally manufacture 41 APIs. However, compared to huge local demand, more API industries need to be set up. Pharmaceutical industries potential has multiplied with the recently approved API industrial park in Munshigonj at a cost of $30 billion. The API Park will inject fresh momentum into the pharmaceutical industry. The country can save at least 70 percent of the amount and the park is expected to transform the industry as a major export earner with the potential to export products worth $750 million per year within the next five years.

At this moment, Bangladesh imports 80 percent of its pharmaceutical raw materials from aboard. A good number of skilled professionals from home and abroad are joining the industrys human resources pool every year. Bangladesh can continue with the patented products up to 2015 as per trade related intellectual property rights (TRIPS). Pharmaceutical industries are now legally allowed to reverse engineer, manufacture and sell generic versions of on-patent pharmaceutical products for domestic consumption as well as for export to other LDCs. This has created a big opportunity to make Bangladesh as a new chemical entity. With about 45 years of experience in pharmaceutical formulation and marketing Bangladesh is in a position to share those with both LDCs and developing countries where needed. Apart from the regular investment in pharmaceutical industries and API, opportunities of bioequivalence study, validation report, clinical trials and manufacturing plant audit mechanism have been created. Currently, bio equivalency tests are conducted in Singapore, Malaysia and in European countries resulting in huge expenditure of pharmaceutical industries. More investments in these sub-sectors would be needed in future. Foreign investors can take advantage of the flourishing industries. It is estimated that over $250 million have been invested in this sector over the last couple years in terms of facility modernization as well as new facilities. Needless to mention that all of these investments were directed towards developing full cGMP compliant facilities, which can meet stringent regulatory requirement of any country of the world. Such investment has already started paying off as most of these companies have either already received certification or are on the verge of getting approval from world toughest regulatory bodies like U.S. FDA, U.K. MHRA, TGA Australia and European Union. This has opened up wider range of opportunities for the industry whereby these Bangladeshi companies can now export pharmaceutical products to any part of the globe capitalizing on the $600 billion plus global pharmaceutical market. (Source: iStockAnalyst )

Current situation of Bangladesh

Sales of medicines in Bangladesh increased by 22.6% last year, to reach a total ofUS$858mn. As a result, BMI is forecasting a pharmaceutical market growth rate of 21.9% for 2009,which is slightly below the figure proposed for the previous year. With regard to exports, figures compiled by the Bangladesh Association of Pharmaceutical Industry(BAPI) and the Dhaka Chamber of Commerce and Industry (DCCI) show local pharmaceuticalcompanies exported medicines with a value of US$28.1mn that during 2007; a 47% rise from theprevious year. Although this increase came from a low base, it demonstrates concerted efforts byBangladeshi drugmakers to look further afield for growth opportunities. However, despite the growth in export revenue, pharmaceutical exports from Bangladesh are outweighedby imports. The most recent breakdown figures (2006) from the International Trade Centre (ITC) revealsthat finished drugs (US$33.21mn) accounted for the majority of imports, followed by ActivePharmaceutical ingredients or APIs (US$1.20mn), and other preparations (US$0.14mn). By 2013, BMIexpects exports to have overtaken imports, reaching a value of US$493mn and US$390mn, respectively. Although 2008 proved a challenging year for Bangladeshi drugmakers - as a result of proposed price cutsand increasing costs - a number of new players appeared on the countrys pharmaceutical scene. NovusPharmaceuticals, a recently established subsidiary of the Abdul Monem Group, one of the largestconglomerates in the country, plans to commence operations in March 2009, with a portfolio of 40medicines, and the company anticipated to export products before 2011. Other recent start-ups includeRAK Pharma and Sharif Pharmaceuticals. Indeed, the evolution of Bangladesh's pharmaceutical sectoris increasingly being characterised by aggressive sales and marketing strategies. According to thePresident of the Bangladesh Association of Pharmaceutical Industries (BAPI), M Shafiuzzaman, themarket is becoming more and more competitive in terms of price and quality. In order to cater toincreased demand, over 50 manufacturing plants were opened in 2008. Domestic pharmaceutical manufacturer Eskayef Bangladesh has announced that it has won accreditationfrom the UK Medicines and Healthcare Products Regulatory Agency (MHRA) for its new productionplant at Tongi. The accreditation will now allow Eskayef to export tablets, capsules and granules to theUK and other European countries as well as facilitate entry into the highly regulated markets of Australia,South Africa and the Gulf Cooperation Council (GCC) nations. At present, Eskayef is in the process ofexporting finished drugs to Europe.

Prospects of medicine exports

Indeed, the foreign currency earning prospects of the pharmaceutical sector are considered to be no less than the readymade garment (RMG) which is presently the single biggest export earning sector of the country. With steady promotional activities favouring the local pharmaceutical industries, these in the near future may overtake the RMG sector in export earnings. This is the view of experts. Reportedly, the country earned the equivalent of 1.3 billion Taka from medicine export in fiscal year 2004-5, Taka 1.84 billion in 2005-6 and Taka 1.94 billion in 2006-7. More than taka 5 billion worth of pharmaceutical products have been exported so far in the current year. From the way medicine export from Bangladesh is picking up, it is projected that export earnings from this sector can rise to some 50 billion Taka in the medium term. The higher earnings show that the pharmaceutical industry has been doing progressively better ; an upward progression in the export of medicines is noted . This is no doubt heartening news in the backdrop of the pressing need to diversify export products and earn more from exports to add to the foreign currency reserve . World Trade Organisation (WTO) agreements have created vast opportunities for Bangladeshi medicine producers to substantially increase medicine exports from this country between 2006 to 20016. Bangladesh can export medicines as a least developed country to 49 countries under the WTO agreement without fulfilling patent requirements. Its neigbouring and competing countries Sri Lanka, Pakistan and India do not have this facility that limit their exports in this field. A Bangladeshi company was invited to export to European markets in the present year. Opportunities for exporting medicines to Myanmar on a large scale are there. The demand for our medicines in the Middle Eastern and African countries are rising fast. However, policies of successive governments from now on will have to be in the right direction to keep on encouraging this potential sector. If supports not in words but in deeds are extended to it, then it will soon emerge as a very thriving one tapping the vast international market and earning bounties in foreign currencies. The government should immediately recognise the merit of accepting and working on the proposals that have been made by the Bangladesh Association of Pharmaceutical Industries (BAPI). The demands are fair and realistic to truly promote the sector. The BAPI has demanded giving of cash incentives to export-oriented pharmaceutical industries. Such incentives are being given to other export-oriented sectors and there is no reason for the pharmaceutical industries with so much export possibilities not to enjoy the same. The pharmaceutical industries would be fully deserving such incentives as the government officially accorded recognition to them as a thrust sector. But matching this declaration the cash incentives have not followed. Incentives ranging from 10 to 30 per cent are enjoyed by medicine exporters from India, Sri Lanka and China. The other major demands is for the establishment of a government operated central testing laboratory for export- oriented pharmaceutical industries. The laboratory can be very useful in strengthening the reputation of local pharmaceutical products abroad through dependable quality

certification. The BAPI has also urged the establishment of active pharmaceutical ingredients (API) plants. The creation of such a plant will likely much increase the value-addition and competitiveness of locally owned pharmaceutical industries. The making of medicines locally after importing the raw materials adds to costs and time. Both can be substantially reduced and the longer term growth and security of the sector can be ensured by building the API plants. The plan to set up an API producing park has been very recently adopted in a meeting of the National Economic Council. Thus, the way has been cleared for the establishment of this pivotal facility at Munshiganj in Dhaka. After its establishment, a number of local pharmaceutical companies are expected to invest some Taka 20 billion in it to set up plants to manufacture pharmaceutical ingredients. It now all depends upon how swiftly the government moves to implement the plan. The same involves getting plots ready for hand over to the pharma industries which are bent on investing in this API park. Not only getting the plots ready, government should set up various required supporting infrastructures inside the park for the companies to be enabled to establish and run the API plants there at the earliest. If the government corporation which would be developing the API project does its work in due time, the companies to invest in it can be expected to start producing APIs within only six months of getting their plots. Considerable hazards or bureaucratic obstacles are confronted by the local pharmaceutical companies in sending samples abroad, to station or appoint representatives in foreign countries, in sending money for the purpose and doing other promotional activities. Government is expected to sort out these problems. Our foreign missions abroad should be directed to play a truly energetic role in searching markets and engaging in promotional activities for the pharmaceutical sector. The patent law of 1933 still remains though its suitable amendments are considered as necessary by exporters in the field to go for wider export activities. Besides, a number of major exporters in the sector are now facing very great problems in maintaining their activities. For example, Beximco Pharma, is considered as a flagship enterprise in this sector. But its export momentum has dwindled down notably as a consequence of the anticorruption drive. A number of other medicine exporting companies are facing similar problems. Government should take steps promptly for these companies to sustain in their full operations. (Bangladesh Economic News)

Existing Problems in the Pharmaceutical Sector:

Bangladesh is manufacturing medicines by borrowing technology It faces problem in maintaining temperature It has to purchase raw materials from other countries so the price of the final products increases.

 Lack of congenial atmosphere and infrastructure weakens the adoption of appropriate technology/scientific methods. Due to the lack of proper management in drying and preserving the cocoons as well as high dependency on katghar and traditional reeling machines as results in the low quality of raw silk production. Lack of knowledge in producing demand oriented skill products which satisfy the local and international market. Lack of initiatives and techniques to market the local pharma products domestically and internationally. Lack of coordination and cooperation between the organizations involved in the pharma produt developments and production.

Methodology:
Methodology is the way to systematically solve the research problems. While conducting the research to achieve its objectives following methodology will be followed in case of data collection and analysis.

Data Collection:
Both primary and secondary data will be needed in completing the study. Secondary data will be obtained from surveying different literatures, news paper, internet etc. regarding global market demand, supply condition of Bangladesh,different constraints and problems that are faced in producing and marketing pharma products and the growth potentials of this sector on a global basis. For primary data collection some prominent pharmaceutical companies officials will be surveyed. Flexible and semi-structured questionnaire will be used so that they can express exactly what problems they face and what they think regarding this industry. Sample size will be 5 for the large businesses selected using systematic sampling and 10 smaller businesses will be surveyed, selected on the basis of area sampling method.

Data Analysis:
After collection, data will be arranged and analyzed as per requirement of the research objectives to describe the present state of affairs and the growth potential for Bangladesh in global market. As this is a descriptive research, analysis will mainly be made using suitable statistical tools. Simple tabulation or graphical representation will be done with the raw data.

References
The Korea Times Bangladesh Becomes Global Hub of Medicines BusineInternatinal Bangladesh Pharmaceuticals and Healthcare Report Q1 2009 Super Admin Analysis of Bangladesh Pharmaceutical Sector (Part 3)