Forcasting price hike
Md Joynal Abedin Khan: The disruption of supply of raw material amid the coronavirus pandemic has alrady been hit the drug manufacturing pharmaceutical factories throughout the country, which may hike price of the life saving drugs.
The cisisis was originated due to dependency on import of the raw materials from some countries like India, China and South Korea, said the sources of the Directorate Grneral of Health Services (DGHS).
According to the Bangladesh Association of Pharmaceutical Industry (BAPI), over 97 percent of raw materials for manufacturing drugs are import-dependent. Some 40 percent comes from China, 30 percent from India, 10 percent from Korea and the rest is imported from Europe, the United States and Japan.
Earlier, the countries have issued bar to export of generic drugs for the ongoing coronavirus pandemic, BAPI mentioned.
Some medicine manufacturing companies are facing the severe crisis of raw materials in last two couple of months after decresing the previous stocks, said insider sources of the pharmacuticals industry.
Even many companies to follow the policy of refrain to produce the medicines for hepatitis, blood pressure and acidity, they said.
The oweners of drug manufacturing companies feared that the coronavirus crisis lingers, the pharma industry will stop the production of drug due to the raw metirial crisis thatmay hit the international drug market.
The cheapest home of raw materials is China, India and South Korea. But being an epicentre of the coronavirus, the domestic medicine businesses with the rest of the world have almost closed. If we bound to import from alternativew sources by paying of the high cost, then we have no alternative to hike the cost of medicine, they said.
M Shafiuzzaman, General Secretary to the BAPI, told the Daily Industry, “We will opt to alternative way to run the bussines if India and China do not release the bar to export their raw metirials of drug production amid the ongoing coronavirus outbreak. Even the companies may hike the price of medicaine to carry out the cost of production and marketing.”
Moreover, raw materials for all medicines might not be available in the European market then the medicine business face severe crisis, he continued.
It has known to that some companies have refrained to produce for some drugs due to lack of raw metirials, he added.
“If the standoff in exporting countries to continue for two or three more months, there will be a shortage of pharma raw materials, said Major General Mahbubur Rahman, Director General of the Directorate General of Drug Administration.
The drug manufacturers had been asked to look for alternatives regarding the import of pharma raw materials to face the ongoing crisis, he said.
Mohammad Mohsin, General Manager at ACI Pharmaceuticals, said, “Maximum companies have stocks of raw materials that may not possible to run the production for all types of drugs. As imports from China and India remain suspended, we are looking for alternative markets such as the US and European countries. However, there is uncertainty over those markets too due to coronavirus outbreak.”
Abdur Rouf Khan, Managing Director of Opsonin Pharma Limited, said, “From till now, we are facing much crisis of raw materials for running the production.”
Mizanur Rahman, Executive Director (operation) of the Square Pharmaceuticals, said, “We are trying to import the raw materials from European countries as alternatives to China and India”
Many companies also are trying to reach out to different European sources for the import of some items. But it will cost more to bring raw materials from Europe, he said.