Pharma exports more than double in seven years

Bangladesh's pharmaceutical exports have more than doubled over the past seven years, reaching $213 million in the just-concluded fiscal year 2024-2025, thanks to the entry into fresh markets and a wave of new products.

- By Jagaran Chakma

However, on a year-on-year basis, the latest export figure was just 4 percent higher than the $205 million generated in the preceding fiscal year of 2023-24.

Industry insiders remain confident that the momentum would prevail as Bangladeshi pharmaceutical firms are expanding into new and emerging markets.

Seven years ago, the country used to send medicines to around 140 countries. This has now risen to 166 nations across the globe.

With continued investment, regulatory compliance, and a growing skilled workforce, the local pharmaceutical sector is poised not just to sustain but to accelerate its export growth in the years ahead, they said.

"The key reason for this growth is the introduction of new molecules and medicines, which are now being produced locally," said Zahangir Alam, chief financial officer of Square Pharmaceuticals PLC.

"This trend is likely to accelerate in the coming years," he said.

Alam informed that the new export destinations included Uzbekistan, Kazakhstan, and Kyrgyzstan, all members of the Commonwealth of Independent States (CIS) in Central Asia.

"These CIS countries are becoming significant markets for Bangladeshi medicines," he added.