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12:00 AM, February 01, 2018 / LAST MODIFIED: 11:46 AM, February 01, 2018
Modern insulin to be made locally
Novo Nordisk to transfer tech to Eskayef as they sign MoU
Simeen Hossain, managing director of Eskayef Pharmaceuticals, and Anand Shetty, managing director of Novo Nordisk Bangladesh, exchange documents after signing an MoU at Sonargaon hotel yesterday. Zahid Malik, state minister for health; Mikael Hemniti Winther, Danish ambassador to Bangladesh; Sebnem Avsar Tuna, corporate vice-president for Novo Nordisk Oceania and Southeast Asia; Latifur Rahman, chairman and CEO of Transcom Group, and Mustafizur Rahman, director general of the Directorate General of Drug Administration, were also present. Photo: Star
Star Business Report
Novo Nordisk, the world's biggest insulin maker, has teamed up with local Eskayef Pharmaceuticals to set up a state-of-the-art manufacturing facility in what can be viewed as a pat on the back to Bangladesh's pharmaceutical sector.
The Danish pharmaceutical giant has six such production facilities outside of its home country but this is the first time that it has partnered with a foreign company to set up a plant.
“It is a great moment of honour for Eskayef Pharmaceuticals and I think even more importantly for Bangladesh,” said Latifur Rahman, chairman and chief executive of Transcom Group, the parent company of Eskayef Pharmaceuticals. Rahman's comment came at an agreement signing ceremony between the two companies, held yesterday at the capital's Pan Pacific Sonargaon hotel.
The memorandum of understanding entails transfer of Novo Nordisk's proprietary state-of-the-art technology to produce human and modern insulin in cartridges to Bangladesh.
The production facility, which will be set up at a cost of Tk 300 crore, is expected to be complete in three years.
The Danish pharmaceutical giant in partnership with Eskayef has been manufacturing human insulin vials in Bangladesh since 2012, but pen-filled modern insulin products are still imported from Denmark.
It is one of the defining moments for Novo Nordisk in Bangladesh, said Sebnem Avsar Tuna, corporate vice-president for Novo Nordisk Oceania and Southeast Asia regions.
“And it is because Eskayef is a trusted partner for us,” she said.
Once the facility, which will be housed at Eskayef's existing site in Tongi, is up and running, Bangladesh will be able to cut its reliance on imports.
Under the arrangement not only the technology will be transferred but also the organisational values, skills, education, training and knowledge, said Mikael Hemniti Winther, the Danish ambassador to Bangladesh.
“There are seven million or more diabetic patients in Bangladesh and today we signed a commitment for them,” said Lars Bo Smidt, corporate vice-president for finance and operations at Novo Nordisk's Africa, Asia, Middle East and Oceania operations.
Novo Nordisk undertakes a due and diligent process before investing in a country.
“Today, we invest in Bangladesh. We will invest money, resources and technology. We will bring the best people here to work with the health care sector and the government,” he added.
Zahid Malik, state minister for health and family welfare, said he hopes the prices will be within the means of the common people and the quality one of the best in the world.
As many as 69 lakh people are living with diabetes in Bangladesh and the figure will double to 1.37 crore by 2045, according to the International Diabetes Federation.
“I think it is much more than that. It would be around 10 million now,” Malik said.
It is well-known that Bangladesh has seven million diabetic patients, but there are many patients who are unaware that they have diabetes, according to Malik.
Many people are dying because of diabetes-related complications. “It has a big impact on families, the health sector and also the productivity of the country,” he added.
Sayef Uddin, secretary general of the Diabetic Association of Bangladesh (DAB), said the association has always felt that pharmaceutical products should be available in the country and must be of high quality, convenient and also affordable. “I am sure this venture will go in that way,” he said.
The signing of the agreement is the testimony to the development of Bangladesh's drug industry, said AK Azad Khan, president of the DAB.
The step taken by Novo Nordisk and Eskayef is a remarkable one and Bangladesh's pharmaceutical sector would reap benefit from it, said Mustafizur Rahman, director-general of the Directorate General of Drug Administration.
The country has the potential to become a major partner of the global pharmaceutical industry, said SM Shafiuzzaman, general secretary of the Bangladesh Association of Pharmaceutical Industries.
“It will serve Bangladesh's citizens and patients,” said Transcom chief Rahman, adding that the plant could even explore export potential.
Simeen Hossain, managing director and chief executive of Eskayef Pharmaceuticals, and Anand Shetty, managing director of Novo Nordisk Bangladesh, signed the agreement on behalf of the two parties. Novo Nordisk is a global healthcare company with more than 90 years of innovation and leadership in diabetes care.
This heritage has given the company experience and capabilities to help people defeat obesity, haemophilia, growth disorders and other serious chronic diseases.
Since 1958, Novo Nordisk has been working in Bangladesh, bringing in high-quality diabetes products, raising awareness among the public and training health professionals.
Over the years, Eskayef has emerged as one of the leading pharmaceutical companies in Bangladesh.
Its state-of-the-art manufacturing facility has been approved by stringent global regulators, including UK MHRA, European Medicines Agency, TGA Australia, VMD UK and the Unicef.
Eskayef is growing globally and is already exporting its products to different countries in Asia, Africa, Europe and Australia.
Transcom Distribution Company Ltd distributes Novo Nordisk's insulin products across the country. Roxana Quader, additional secretary of the health and family welfare ministry, was also present at the event.
http://www.thedailystar.net/busines...bangladesh-by-eskayef-pharmaceuticals-1528312
