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A leading Bangladeshi pharmaceutical company has announced plans to buy a number of UK-registered pharma product licences which would allow it to market the drugs in Europe.
Eskayef Bangladesh said it hoped to sign a deal with a UK company next month which would see it licensed to produce the generic drugs Ciprofloxacin, Omeprazole and Ondensatron.
“We have already opened an office in London and hired consultants to conduct the first licence procurement deal with the UK firm which I do not want to name right now,” Eskayef’s managing director, AM Faruque, said. “We expect that the agreement will be signed within July.”
Two other Bangladeshi companies, Renata Limited and Square Pharmaceuticals, have also initiated steps to buy product licences from the UK.
“This is the fastest way our local companies can easily join the global market,” Mr Faruque said. “The main advantage we enjoy is the production cost. We can produce drugs at almost 50% less than any UK company.”
He said that some British pharmaceutical companies owned three or four licences of a single product, which they often did not carry through to the marketing stage. These extra licences were then available for sale to other firms.
Copyright © PA Business 2008
