Beximco Pharmaceuticals Ltd.
13th March 2006
Beximco Pharma zeroes in on expanding market in Myanmar
Dhaka, March 13, 2006: Taking advantage of the exemptions of ‘Pharmaceutical Product patent’ for the Least Developed Countries (LDCs) until 2016, as given by the Doha Declaration of Trade Related aspects of Intellectual Property rights (TRIPs), Beximco Pharmaceuticals participated in the three-day ‘Pharmaceutical Product Show’ in Myanmar with a massive market expansion plan.
All the TRIPs signatory countries excepting the 50 LDCs have already implemented ‘Pharmaceutical Product patent’ in their respective countries, paving the way to pharmaceutical companies in the LDCs to reap the benefit of Doha Declaration, by exporting medicines in huge volume to the LDCs including Myanmar, a 90 percent import-based LDC in the South East Asia, Beximco Pharma Chief Executive Officer Mr. Nazmul Hassan said at a seminar organised during the exhibition in Yangon.
On the sidelines of the fair, seminars have been organized to educate physicians, consumers and distributors to have first hand knowledge of the latest drugs on offer. Mr. Nazmul Hassan while making Keynote Presentation in two seminars said, the WTO rules have opened the prospects of good business in foreign market by big local companies like Beximco Pharma having modern quality research and development units.
Mr. Hassan also highlighted the impact of TRIPs on the import-based pharmaceutical sector of Myanmar and how Bangladesh could be a major source for Myanmar for patented drugs. Explaining the rules, he said that as a pharmaceutical manufacturer of a LDC, Beximco Pharma can now legally reverse-engineer patented products and sell it in the domestic market as well as in all other LDCs, non-WTO member countries and countries where product patent is not in force. Beximco Pharma will also transfer technology and research to the Myanmar drug manufacturers if any company expresses interests.
The Beximco Pharma CEO also focused on the manufacturing, overseas registration and marketing capabilities of Beximco Pharma as well as Bangladesh pharmaceutical industry, with special emphasis on its product quality, packaging and presentation. During the three-day fair, the company displayed its high-tech quality products for which government officials, drug market regulators, medical professionals, distributors and pharmacists are showing keen interest.
Beximco Pharma started its export and marketing operation in Myanmar in 1997 and has now become a major player in Myanmar pharmaceutical market. The company′s strong sales and marketing team in Myanmar is facilitating the marketing and promotional activities effectively to continuously increase the demand of its products. Beximco Pharma is well poised to supply much needed patented drugs as well as off-patent drugs to Myanmar and is applying for registration of more exciting new products there.
Jointly organized by Export Promotion Bureau (EPB) of Bangladesh, Bangladesh Association of Pharmaceutical Industries and Bangladesh Embassy in Myanmar, the three-day show was held in Hotel Sedona in the Myanmar capital from March 10 to 12, 2006. The show was inaugurated by Commerce Minister of Myanmar Brig Gen Tin Naing Thein and Bangladesh Ambassador in Myanmar Mr.Khairuzzaman. Among others, BAPI President Mr. SM Shafiuzzaman, Joint Secretary of Ministry of Commerce of Bangladesh Mr. Md. Ghulam Hussain and Director of Drug Administration of Bangladesh Professor Dr. Md. Habibur Rahman and Director Marketing of BPL Mr. Rabbur Reza were present.