One Pharma eyes export expansion into African, Asian markets

One Pharma Limited, a sister concern of the National AgriCare Group, is aggressively pursuing international expansion after successfully establishing a foothold in Afghanistan and Myanmar.

The company now prioritises lower-middle-income and least-developed countries for its export efforts, its officials told journalists during their recent visit to its manufacturing facility in Bogura.

Having already achieved annual exports valued at over $2 million (approximately Tk25 crore) to Afghanistan and initiated shipments to Myanmar with an initial value of around $50,000, One Pharma is now setting its sights on Ethiopia, Kenya, Algeria, Yemen, and Sri Lanka, among others.

"We have already exported $2 million worth of medicines to Afghanistan in 2024, and exports to Myanmar have begun with an initial shipment worth approximately $50,000. We plan to expand our exports to 10 more countries," Ishtiaq Ahmed, chief technical officer of One Pharma, said.

According to company officials, One Pharma currently generates around Tk160 crore in annual turnover. This figure could significantly increase with expansion into international markets, they say.

KSM Mostafizur Rahman, founder and managing director of National AgriCare Group, said, "We are in discussions about exporting our medicines to Algeria. A meeting is scheduled with Abdelouahab Saidani, the Algerian ambassador to Bangladesh, within a short time. After he visits our factory, we expect to receive approval from the Algerian government."

Despite recent growth, Bangladesh's overall share in global pharmaceutical exports remains insignificant. According to the Export Promotion Bureau (EPB), the country exported $205 million worth of pharmaceuticals in the fiscal year 2023–2024, a 17% increase from the previous year. However, this still represents only 0.03% of the global pharmaceutical market, which is valued at approximately $590 billion.

Major pharmaceutical exporters from Bangladesh currently include Square Pharmaceuticals, Incepta Pharmaceuticals, Eskayef Pharmaceuticals, Beximco, Beacon Pharmaceuticals and Renata Limited.

Nazmun Naher, chairperson of One Pharma, said, "Our goal is to deliver high-quality products to consumers at competitive prices. We do not compromise on quality."

Special focus on anti-cancer drugs

Globally, anti-cancer medications dominate the top 10 best-selling drugs. About 15 Bangladeshi companies are now producing these, and One Pharma has recently begun producing medicine for lung and breast cancer. It has also initiated the production of appetite stimulants for terminal cancer patients.

The officials noted that One Pharma is focusing on strengthening its position in the local market through the production of oncology drugs. To support this effort, the company is investing in new technology and expertise, including the import of advanced machinery, aiming to introduce innovations in this segment.

However, the officials also pointed out several challenges in pharmaceutical manufacturing. 

KSM Mostafizur Rahman said one of the major obstacles is related to tax policies enforced by the National Board of Revenue (NBR). He noted that the import tax rate is nearly the same for both locally produced and imported drugs.

He urged policymakers to offer protection for domestic producers, especially for those who are producing import-substitute medicines.