Health minister urges pharma industry owners to keep medicine prices affordable

Health Minister Samanta Lal Sen on Thursday (29 February) called upon pharmaceutical industry owners to keep medicine prices affordable.

Speaking at the inauguration ceremony of 15th Asia Pharma Expo, the minister also urged the industry owners to produce health equipment domestically, ensuring accessibility to medical services in the country.

"People will benefit if medical equipment and devices are produced in the country. Also, there is potential for exporting locally manufactured medical equipment abroad. Therefore, it is imperative for the country's pharmaceutical companies to prioritise the production of medical devices and equipment," he said.

The health minister highlighted the substantial expenses involved in importing items like heart rings, catheters, and various other equipment from abroad. 

This imposes a financial strain on the patients, he said.

He also mentioned that Bangladesh manufactures 98 % of its own medications and exports them to 157 countries.

Meanwhile, pharmaceutical industry leaders emphasised that pharmacies continue to sell drugs at a rate 30% below the current dollar price. 

They also said they are considering adjusting medicine prices.

Speaking at the event, Youth and Sports Minister Nazmul Hassan said Bangladesh is set to exit the list of least developed countries in 2026.

"The country will not be able to enjoy the privilege it is getting in pharmaceutical manufacturing after 2026. The health sector is likely to face significant challenges during this transition," Nazmul said.

A robust preparation is required to address the impending future challenges, he added.

Bangladesh Association of Pharmaceutical Industries (BAPI) and GPE Expo Private Limited jointly organised this 3-day international exhibition. About 750 business organisations from more than 30 countries are participating in this expo.