Bangladesh’s pharma industry moves from import dependence to global prominence

In the years following independence, nearly 95% of Bangladesh's medicine market was controlled by multinational companies, with most drugs imported and only a few produced locally.

Today, 98% of the country's pharmaceutical demand is met locally, according to the Bangladesh Association of Pharmaceutical Industries (BAPI). Bangladesh now exports medicines to more than 160 countries, including highly regulated markets such as the United States, several European nations, and Australia.

That landscape changed dramatically after the introduction of the National Drug Policy, which prioritized domestic manufacturing and restricted the import of medicines that could be produced locally.

This policy became the cornerstone of the country's pharmaceutical revolution — transforming Bangladesh into a near self-sufficient drug producer and a major global exporter.

Government policy, cost competitiveness, and growing manufacturing expertise have made Bangladesh a pharmaceutical success story in the Global South, creating thousands of jobs and ensuring affordable access to essential medicines.

Exports on steady rise amid diversification

In FY2024–25, Bangladesh's pharmaceutical exports reached $213 million, up 4% from $205 million in the previous fiscal year. Industry insiders attribute this growth to manufacturers entering new and emerging markets and diversifying into complex formulations such as insulin, hormones, anti-cancer drugs, MDIs, DPIs, and lyophilized injectables.

BAPI data shows that Bangladeshi-made quality medicines are now recognized globally, exported to the US, Europe, Canada, and Australia, as well as to developing nations. The country has also made progress in producing life-saving medicines and Active Pharmaceutical Ingredients (APIs), reducing import dependence further.

According to the Directorate General of Drug Administration (DGDA), Bangladesh currently has 295 allopathic manufacturers producing medicines and raw materials worth around Tk 46,985 crore annually.

The country also hosts 284 Unani, 205 Ayurvedic, 71 homeopathic, and 31 herbal medicine manufacturers, collectively producing nearly Tk 1,000 crore worth of traditional medicines each years.

According to BAPI, There are 307 registered pharmaceutical companies, of which around 150 are actively producing medicines.

From Covid lessons to biosimilar breakthroughs

The Covid-19 pandemic became a turning point for the sector. Exports of antiviral drugs such as Remdesivir and Favipiravir surged as international demand spiked. During this time, the export of Remdesivir alone saw a significant increase. Later, the Directorate General of Drug Administration (DGDA) granted approval for the production and export of several essential medicines on an emergency basis.

Alongside quality and affordability, Bangladesh's pharmaceutical industry has earned a strong global reputation for its ability to produce and market medicines rapidly.

Today, Bangladeshi firms are moving beyond generics into biosimilar drug production — a complex, high-value segment of modern pharmaceuticals.

Renata PLC, one of the country's leading companies, now has 83 bioequivalent products.
Syed Omar Kabir, General Manager of Pharmaceutical Business and Operations at Renata, explained that bioequivalence trials ensure that a generic performs identically to the original innovator drug in terms of safety and efficacy — crucial for antibiotics, chemotherapy, and chronic treatments.

Renata has also developed several innovative formulations, including a ready-to-use cancer injection that allows faster, safer administration while reducing waste and costs. Recently, it launched a stroke-prevention drug in Australia, a formulation that no other company in the world currently produces in the same dosage form.

Need policy support

Despite the remarkable growth, industry leaders warn that policy bottlenecks could slow down the momentum.

Dr Mohammad Zakir Hossain, Managing Director of Delta Pharma Ltd and Secretary General of BAPI, told The Business Standard, the key reason behind the success of our pharma industry was strong policy support from the government. But now, we are facing problems with that same support. Unless these issues are resolved, the sector cannot grow by itself. We are urging the government to implement the Drugs Act passed by Parliament in 2023.