It is encouraging to note that the government has taken measures to boost the growth of the domestic pharma sector. According to a report published in this daily on Saturday, Healthcare, Acme, UniHealth and Ibn Sina have already started setting up factories in Munshiganj's Gazaria API Park to produce raw ingredients that will help cut dependence on import of APIs for key raw materials for medicines. Government has also decided to put tax holidays on the local pharma companies for setting up new factories to produce raw materials in API park.
Needless to say, these initiatives will help strengthen our pharma sector but we have to make sure that these measures are implemented properly. If implemented properly, pharma sector will gain success to meet the growing demand for new medicines and healthcare products.
The government should take appropriate
measures in order to facilitate further
growth of the pharma sector
Surge in production of more medicines and healthcare products will not only meet the local demand but also increase our export which will lead to a balance of trade surplus. The rise in export will help create a good image of the country before the world as a pharma producing hub.
We still have a long way to go to take our pharma sector to the height of the first world countries. A challenge we have to solve at present is the absence of facilities for bio-equivalence study. The establishment of a fully-developed bio-equivalence facility in our country will help us produce more efficiently and improve the quality of healthcare products and medicines. Therefore, the government should take appropriate measures in order to facilitate further growth of the pharma sector.
