Pharmaceutical Industry Case Study

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Local Industry in the Global Context Bangladesh has achieved self-sufficiency in the pharmaceuticals sector because 97% of the nation’s demand for medicines is being met by the local manufacturers of the country. Because of this huge success in the local market the Pharmaceutical Industry of Bangladesh is now continuously trying its best to enter into the global market that exists all over the world. Because the quality of the Bangladeshi medicines are world-class as well as cheap in price compared to the other international medicines that are available all over the world, the Bangladeshi Pharmaceuticals industry has been exporting medicines for a very long time. But when compared with all the other countries of the world Bangladesh could do a lot better in terms of increasing its pharmaceuticals exports. Though the pharmaceuticals exports of Bangladesh are increasing day by day it could increase a lot more and help Bangladesh to…show more content…
Bangladesh is already exporting medicines in the countries of the African continent and in the Middle-Eastern countries as well as in some selected countries in Europe. Although Bangladesh has been exporting medicines for a very long time it has not been able to export its medicines to the US market because of strict rules and regulations. Experts in the pharmaceuticals sectors say that if all the manufacturers in Bangladesh are able to start exporting in the US market then the whole pharmaceutical industry of Bangladesh will be changed. This might help the pharmaceutical industry to even overcome the Garments sector and earn more foreign currency. This is why one of the strategic issues of Bangladeshi Pharmaceutical industry is to get intellectual property rights from the WTO and as well as met the standards and criteria that is required to start exporting to the US
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