a year ago

Experts for making country self-reliant in API by 2029

Medicine prices might fuel up as patent fees to be imposed after the deadline

Published :

Updated :

Experts at a seminar have urged for adopting policies to become self-sufficient in active pharmaceutical ingredients (API) to keep prices of medicine within reach of the majority population even in the post-2029 period.

The urgency came as Bangladeshi pharmaceutical companies will have to pay patient fees to exporter countries for API which could fuel up prices of medicine.    

These recommendations were discussed at a seminar titled “Bridging the Gap: TRIPS and Enhanced Access to Medicines in Bangladesh,” organised by the COAST Foundation in collaboration with the Third World Network, held at CIRDAP Auditorium in the city on Thursday.

Chairman of Palli Karma Sahayak Foundation Dr Kazi Khalquezzaman Ahmad presided over Executive Director of COAST Foundation Rezaul Karim Chowdhury moderated the event.

Coast Foundation official Md Mujibul Haque Munir presented the keynote which said until 2029, Bangladeshi pharmaceutical companies could produce these medicines without any patent fee.  

The country currently does not pay fees for patented medicines, which might change once it becomes a developing country. After the deadline 2029, medicine prices might significantly increase due to imposition of patent fees.

The paper said the Patent Act of 2022 also must address existing loopholes and make full use of TRIPS flexibilities.

The paper stressed the importance of medicine availability as 44 per cent of healthcare expenses in Bangladesh are spent on medicines.

The pharmaceutical industry has made significant progress, meeting around 98 per cent of the country’s demand while exporting medicines to approximately 147 countries.

It proposed several recommendations, including self-reliance in raw materials, emphasis on research and development in the pharmaceutical sector, fighting corruption in the health sector, and ensuring universal health insurance for all.

Ubinig head Farida Akhtar, Third World Network’s Pratibha Sivasubramanian, President of the National Committee on Health Movement Rashid -E-Mahbub, among others also spoke.

[email protected]

Share this news