AFCL was established with a vision to serve health care sector of Bangladesh with innovative products and services. Bangladesh with a population of over 140 million, offers a unique opportunity for innovation at a very competitive cost. It also offers the opportunity of a large and growing market place. AFCL wants to take the advantage of these opportunities and become a top player in health care sector only by providing unique products and services.
Considering the industrial output from pharmaceutical sector of Bangladesh, it is clear that there is plenty of room for improvement. Only 1% of total GDP is contributed by current pharma sector. Where as most countries with comparable population density and per capita , pharma sector contributes more than 5% of the GDP. Hence AFCL sees plenty of opportunities to look forward to.
With the ultimate goal to pursue original innovation, AFCL started its journey as a manufacturer of key pharmaceutical ingredients call API (active pharmaceutical ingredients). Bangladesh imports 90% of its required API from foreign sources. Total import value of API is over Tk 2500 crore with annual growth of over 15%. AFCL plans to cover at least 10% of the market by 2013-15. To do so AFCL plans to offer at least 35-50 APIs by 2013. AFCL plans to build three more plants by next year to increase capacity, to manufacture anti-cancer drugs and cephalosporin drugs. These activities will build the foundation of long term goal to do original innovation. By 2015 AFCL wish to have a strong RnD capabilities to start work on new original API molecule of its own. By 2020 AFCL wish to come up with its own so called NCE or “block buster” molecule.
Bangladesh
