Manufacture medical equipment, devices locally: Health minister

The health minister has urged local companies to take the initiative to manufacture medical equipment and devices locally in a bid to cut the financial burden on patients and drain the dollar on those imports.

Health Minister Dr Samanta Lal Sen made the call while inaugurating the 15th Asia Pharma Expo 2024 (APE 2024) and ASIA LAB EXPO 2024, an international trade platform on pharmaceutical manufacturing technologies, as the chief guest. 

The three-day international exhibition, which began Thursday, is underway at the Bangabandhu Bangladesh-China Friendship Exhibition Centre near Dhaka and is scheduled to conclude on March 2.

“Heart rings, catheters or many other medical devices are expensive, and it costs a huge amount of money to import. This causes economic pressure on the patients. If local drug companies make medical devices, common people will benefit,” the health minister suggested.

“You (drug companies) can also export those locally manufactured medical devices,” he observed. 

Dr Sen also said that Bangladesh produces 98 per cent of its own medicines and exports medicines to 157 countries. “It's a big success,” he said.

At the programme, Nazmul Hassan Papon, Minister of Youth and Sports and former president of the Bangladesh Association of Pharmaceutical Industries (BAPI) feared the health sector is one of the sectors that would face the most challenges after the LDC graduation in 2026. 

“Bangladesh will not be able to enjoy the facility of manufacturing medicine (without providing money for patents) being a member of WTO after 2026,” he added. 

“Strong preparation is needed to face this challenge of the future,” he advocated.

Compared to the international market, the price of medicines in Bangladesh is 30 per cent lower so far, claimed BAPI President and Managing Director of Incepta Pharmaceuticals Limited Abdul Muktadir.

He told journalists emerging from the event that the prices of raw materials of medicine, packages and salaries of workers have increased in the last four years. 

“Still, we are selling the medicines at the previous price of dollar (86-taka dollar rate) which is a rate which is 30 per cent less than international market prices,” he said, hinting at a possible price hike of medicine further.

Prices of a few medicines have been adjusted, not hiked, he claimed, adding that some others would be adjusted along with the dollar price in the market.

The health minister, however, said that at the moment, no decision has been taken regarding reducing or increasing the price of medicines. 

A decision would be made after discussion with the stakeholders, he said, emphasising keeping the price of medicines affordable. 

Major General Mohammad Yousuf, Director General of Drug Administration and Mahbubul Alam, President of the Federation of Bangladesh Chamber of Commerce & Industry also spoke at the event among others.

More than 751 exhibiting companies from 36 countries are taking part in the exhibition and showcasing the complete spectrum of pharma manufacturing.

With a market value of about USD 3 billion, the Bangladesh pharma manufacturing industry is rapidly marching ahead. 98 per cent of the country's total demand for medicine is being met by nearly 300 domestic manufacturers, which is a milestone in the history of the Bangladesh pharmaceutical industry.

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