HA Tech

Land acquisition for large scale API manufacturing

Sydney, NSW. (25 Aug 2020)– HA TECH announced the signing of a land lease agreement with the Bangladesh Economic Zones Authority (BEZA).

HA TECH will invest up to $80 million to establish a large-scale active pharmaceutical ingredient (API) manufacturing facility in Bangladesh that could help the country meet its growing demand.

“We aim to fulfil the demand for quality APIs in Bangladesh,” Abdullah Al Mahmud, executive chairman of HA TECH.

Initially, the Sydney-based company, which produces APIs mainly for cardiovascular, diabetic, ulcer and oncology applications, will invest $30 million to develop the facility. But within the next five years, the total investment could reach $80 million if the company wants to increase the product range.
There are about 10 local companies, including Eskayef, Square, Beacon and Beximco, that produce API materials on a limited scale, according to SM Shafiuzzaman, secretary general of Bangladesh Association of Pharmaceutical Industries (BAPI), a collective of about 250 local drug markers. Local production can at best meet 5 or 6 per cent of the annual demand from the pharmaceutical sector, which has only grown in stature with the onset of the coronavirus pandemic, according to Monjurul Alam, director for global business development at Beacon Pharmaceuticals. Subsequently, Bangladesh spends about $1.3 billion each year to import APIs from the US, Taiwan, Italy, Germany, Spain, Switzerland, France and the UK.

Development works for HA TECH’s upcoming state-of-the-art good manufacturing practice (GMP) facility spanning 10 acres on at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) will begin in January, said Paban Chowdhury, executive chairman of BEZA. The facility is expected to go into full operation by sometime next year.

Read the Full Story

Leave a Reply

Your email address will not be published. Required fields are marked *