The United Kingdom (UK) and European Union (EU) are facing shortages of vital medicines such as antibiotics and epilepsy medication, according to a report published on 18 April.
The report by Britain's Nuffield Trust think-tank found the situation had become a "new normal" in the UK and was "also having a serious impact in EU countries".
Mark Dayan, Brexit programme lead at the Nuffield Trust think-tank, said Britain's decision to leave the European Union had not caused UK supply problems but had exacerbated them.
Researchers also warned that being outside the EU might mean the UK is unable to benefit from the measures taken by European leaders to tackle shortages, such as bringing drug manufacturing back to the continent.
But, Bangladesh, which has made a name for itself in the global medicine production scene and has long been exporting medicines to the UK and EU markets, can further cash in on this opportunity?
Bangladesh Association of Pharmaceutical Industries (BAPI), the apex body of pharmaceutical companies in the country, said medicine exports are growing fast.
BAPI President Abdul Muktadir said that it takes around three to four years to get approval for a single product.
He said that Bangladeshi companies are applying for registration based on the list of products currently in shortage.
“The shortage of a product does not last for a long time. We apply to register products that have a longer demand period as sometimes the shortage is over by the time we start selling,” said Abdul Muktadir, who is also the chairman and managing director of Incepta Pharmaceuticals Limited.
He said that this type of business decision is not that easy.
However, he said that the problem of the shortage of medicine in the UK and EU markets will increase day by day.
“For this reason, we have started to apply for more products to get registered. When the situation reaches a critical point after three or four years, Our 100-200 products will be registered in those countries, and we will be able to consistently supply the medicine,” said Abdul Muktadir.
He said that now 5-7 Bangladeshi companies have registered their products in the EU countries.
“If we start the work today, we will get the result after 4 years. Bangladesh will benefit in the long run,” he further said.
According to the Export Promotion Bureau (EPB), Bangladesh exported $175.42 million in pharmaceutical products in 2022-2023.
The government has declared pharmaceuticals as the “Thrust Sector”.
Around 1,200 pharmaceutical products have been registered for export in the last two years.
These pharmaceutical products are being exported to more than 150 destinations, including the UK, EU, USA, Canada, and Australia.
Leading companies in Bangladesh are increasing their focus on highly regulated markets, including the EU, UK, USA, Canada and Australia as the pharmaceuticals sector in the country has attracted substantial attention from clients abroad.
They also have nearly all major GMP accreditation including USFDA, UK MHRA, EU GMP, Health Canada, TGA Australia, ANVISA Brazil and GCC, according to the BAPI.
Kaiser Kabir, chief executive of one of Bangladesh's foremost pharmaceutical companies Renata Limited said that UK and EU countries face shortages for different products at different times.
“Bangladesh can cash in on the UK and EU’s shortage of medicine only when we have registered our products there. When those countries face shortages of a single product, Bangladeshi companies can export immediately,” he added.
“It takes around three to four years for a product from the development stages to getting registered in their markets. It is not that easy,” he said.
“The USA also faces a shortage of medicine and Australia faces a shortage of medicine regularly,” said Kaiser Kabir.
Stating that Bangladeshi pharmaceutical companies can take advantage of the shortages one day, he said, “Renata’s research and development is strong. We had started the registration process for products eight years ago.”
“Now we are getting some advantages. Around 15 products of Renata are registered in the UK and EU market now,” he said.
Kaiser Kabir said that Renata will make a shipment of products next month in the UK market.
