Chattogram’s Albion set to make drug export debut
Under the terms of the agreement, 20% of the payment for the first shipment reached Bangladesh on 9 June
Albion Laboratories Limited in Chattogram is on its way to becoming a new exporter in the pharmaceutical sector. Albion Group's affiliate has been waiting for the export of drugs worth $66,690. The first shipment from Chattogram port to Kabul, Afghanistan, will reach its destination next month.
The company obtained the good manufacturing practice (GMP) certificate on 13 January this year. Then on 29 May, there was a confirmation about the export.
Under the terms of the agreement, 20% of the payment for the first shipment reached Bangladesh on 9 June.
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In addition to Afghanistan, invoices have been issued for export of 10 pharmaceutical products worth $53,650 to Yemen, which will open a drug export bond from Albion next week.
The Albion authorities are preparing for the shipment of drugs from Chattogram port to Aden in Yemen in the first week of October.
Albion Laboratories is on the verge of exporting drugs to Cambodia, Myanmar and Bhutan. The three countries are currently in the process of getting approval from their health ministries.
The drugs produced by Albion will have generic names as well as brand names abroad. The company has been producing various types of complex medicines of an international standard, such as tablets, capsules and injections. That is why Albion is gradually increasing its investment in Sitakunda.
There are a variety of antibiotics among nearly 450 human health-related drug items. Additionally, there are new products, among which are one-time injection syringes, drops and injectable items.
According to the Bangladesh Export Promotion Bureau (EPB), in fiscal 2020-21, medicines worth $169 million or Tk1,436 crore were exported from Bangladesh to 123 countries around the globe. The highest volume of these exports went to neighbouring Myanmar.
In the last fiscal year, the export of medicines to Myanmar amounted to $18.21 million. Sri Lanka was next with $15.76 million in exports.
According to the Directorate General of Drug Administration, Bangladesh's share of the Sri Lankan drug market is 7.4%. And 4.53% of the Myanmar drug market is dominated by Bangladeshi items.
The company has also prepared a table for the second and third steps by reviewing data related to the importing countries in the process of exporting drugs. The list includes Sri Lanka, Vietnam and the Philippines. The next step will be the African countries of Sudan, Ghana, Somalia, Cameroon and Nigeria.
Kuala Lumpur is also interested in reducing China's dominance in the Malaysian pharmaceutical market. For this reason, Albion sees the country as an important market. That is a reason why Albion's research team is analysing market entry data. Albion also has plans to expand its drug market in the West.
Raisul Uddin Saikat, chairman of the Albion Group, said, "It is a great pleasure for us to be able to start our journey as the first Chattogram-based drug exporter. But, as it is a competitive market, the profit margin on exports is very low."
He said the Bangladesh government wants to increase the spread of Bangladeshi medicines abroad. As a way of promoting the policy, a 10% incentive has been given by the government to encourage the export of medicines.
"We will also gradually open up our export market. Apart from that, it is also an honour to have the name of our organisation in the list of exports," he added.
Raisul Uddin Saikat said the Albion Group has approval to produce 450 types of drugs. Of these, Albion is currently marketing 300 varieties.
"Lotil-20, Monkon-10, Reclevus Met, Epram and Olme-20 of the omeprazole group are among the top drugs produced by Albion," he added.
Officials at Albion Laboratories say it has not been easy to get nominated or recognised for exports to multiple countries. Manufacturing activities have been in line with the World Health Organization (WHO) defined GMP.
Albion medicines are now ready to go to different countries after passing the appropriate quality verification tests and gaining some significant certificates in the global pharmaceutical sector. As it is a sensitive product, it is as difficult and time consuming for an importer to get a country clearance, they added.
In 1991, Albion Laboratories Limited started production of 15 categories of drugs on a small scale with 100 employees. The company started production in a rented building in Chandgaon residential area of Chattogram. And this beginning was in the hands of Md Nezam Uddin. As managing director of the company, he also had a seat in business management.
The second generation, meaning the children of Nezam Uddin, has been involved in the business since 2006. Nezam Uddin's elder son Raisul Uddin Saikat studied computer science in Australia.
After completing his studies, he quickly returned to the country and joined Albion Laboratories Limited as an officer. The business style of the company keeps changing with new plans. Self-identification in exports is one of the most significant changes in the work of the firm.
Raisul Uddin Saikat is currently chairman of Albion Group. Muntahar Uddin Sakib, the second son of Nezam Uddin, joined the company in 2012 after completing his studies as a chartered accountant in Malaysia. He is currently serving as managing director. Daughter Tasnuva Afrin, a pharmacist, is currently serving as a director of the company.
The production of medicines started in 2007 in Barbakunda of Sitakunda upazila in Chattogram on an area of 50,000 square feet. The scope is now being extended to meet the needs of expanding infrastructure facilities in light of the drug export plan being undertaken. The Albion Group has started operating drug production activities on an area of 140,000 square feet. The factory, with 100 people, is now going to provide direct employment to 3,000 people at Albion Specialised Pharma Limited.
