DNCC to Establish Community Clinics in 54 Wards

Indo-Bangla Pharmaceuticals Limited experienced a significant 91.65% decrease in profit, amounting to Tk 11.62 lakh, during the third quarter of the current financial year. In comparison, the company had earned a profit of Tk 1.39 crore in the same quarter of the previous year, 2021-22. The unaudited financial statements reveal that the earnings per share (EPS) for January-March 2022-23 stood at Tk 0.01, as opposed to Tk 0.12 in the corresponding quarter of 2021-22.

Public health activists have called for the provision of free treatment at government hospitals and health facilities twice a day by specialist physicians. In a views exchange meeting held in the capital, activists also demanded the cancellation of user fees at government hospitals. The meeting, chaired by the Janashasthaya Sangram Parishad convener criticized the government's decision to commercialize government hospitals and introduce the private practice in the afternoons under the guise of specialized treatment.

The Insurance Development and Regulatory Authority (IDRA) has authorized life insurance companies in Bangladesh to provide comprehensive health insurance policies, breaking the monopoly held by non-life insurers. In a recent circular, IDRA formalized this decision, opening up opportunities for market competition and potentially reducing policy costs. Previously, only non-life insurers were permitted to offer health insurance policies with short-term durations. However, with the latest circular, life insurers are now allowed to design, price, and sell medical products in the market.

The upcoming national budget in Bangladesh includes duty rebates on medicine and medical equipment raw materials, benefiting the local industry and healthcare sector. VAT waivers may continue for raw material imports of sanitary napkins, diapers, and toiletries, essential for public health. The government plans to expand the duty-free list for cancer and diabetes drugs, making treatments more affordable. However, supplementary duties on liquid nicotine and e-cigarettes aim to discourage their use.

A recent probe report on the overheated medicine market in Bangladesh has recommended implementing full government control over lifesaving drug prices and promoting the low-duty import of necessary raw materials. The report, comprising 17-point recommendations from a government intelligence agency, aims to address the escalating prices of medicines. Key suggestions include prioritizing the import of raw materials, reducing import hurdles faced by drug-makers during LC opening with banks, and streamlining the process for other supplies.

Renata Limited, a prominent drug manufacturing company in Bangladesh, has experienced a 33% decrease in net profits during the first nine months of the current fiscal year. Despite a 9% increase in revenue, the company attributes this decline to rising raw material prices and energy costs due to the global dollar crisis. According to Renata's unaudited financial report, net revenue grew by 8.74% to Tk 2,439.28 crore in the first nine months of the fiscal year, compared to Tk 2,243.13 crore in the same period last year.