Pharma industry fears Tk 40bn lose in Dhaka airport fire

BAPI analysis shows that raw materials worth around Tk 2 billion belonging to the country's top 45 pharmaceutical companies were destroyed in the fire

The Bangladesh Association of Pharmaceutical Industries (BAPI) has said the country's pharmaceutical industry faces a potential financial loss of around Tk 40 billion due to the fire in the Cargo Village at Dhaka's Shahjalal International Airport.

Leaders of the organisation presented the figure at a press conference at its office in Tejgaon on Tuesday.

BAPI Secretary General Zakir Hossain read a statement at the briefing.

He said that immediately after the fire, they collected and analysed data from many pharmaceutical companies.

The analysis showed that raw materials worth around Tk 2 billion belonging to the country's top 45 pharmaceutical companies were destroyed in the fire. The total loss will be even higher when including damage sustained by other institutions.

The burnt raw materials included critical components necessary for producing antibiotics, vaccines, hormones, diabetes, and cancer-related medications, according to Zakir.

“The destruction of these raw materials is expected to disrupt the production of the relevant medicines. Several spare parts and machinery were damaged, which will take time to re-import, further delaying the production process," he said.

"This initial loss estimate could increase because each raw material is directly connected to the production of multiple finished products."

The BAPI secretary general noted that Bangladesh currently has 307 drug manufacturing facilities, with around 250 companies actively engaged in production.

To mitigate the industry's risks and potential future crises, the organisation sought specific attention and proper guidance from the government on several issues.

It has also submitted 14 demands to the government.