Renata Approved for German Market Entry with Parkinson Drug

Bangladesh's pharmaceutical exports saw steady growth in the first eight months of FY24-25, earning $145.46 million, a 7.1% increase from $135.81 million in the same period of the previous year. Growth was driven by rising demand in developed markets like the US, Australia, and Europe.

The government has provided Tk 525.46 crore to Beximco Group to settle dues for workers and officials of 14 closed textile and garment units. The funds, allocated by the finance division, will be disbursed as a loan, which Beximco must repay later.

The Appellate Division of the Supreme Court has allowed independent directors appointed by the Bangladesh Securities and Exchange Commission (BSEC) to resume duties at Beximco, Beximco Pharmaceuticals, and Shinepukur Ceramics.

The National Board of Revenue (NBR) has reduced the source tax on the import of raw materials used in cancer drug production from 5% to 2%, aiming to lower production costs and make oncology medicines more affordable. This move is expected to benefit both pharmaceutical manufacturers and patients by reducing drug prices.

Investors in the Tk 3,000 crore Beximco Green Sukuk al-Istisna are increasingly concerned about recovering their principal as the issuer struggles with financial distress. The recent layoffs across 15 apparel units and Beximco’s Tk 50,000 crore in bank loans—more than half classified as non-performing—have intensified worries.

Bangladeshi medical tourists have dominated India’s medical tourism sector for years, making up nearly 70% of foreign patients. Between 2017 and 2022, their numbers grew by 48%, reaching 70.8% of total medical tourists in 2023. However, the fall of Sheikh Hasina’s government on August 5, 2024, led to diplomatic tensions, visa restrictions, and a sharp decline in Bangladeshi patients traveling to India.