Bangladesh’s pharmaceutical exports rose to $213 million in the fiscal year 2024-2025, more than doubling over the past seven years as companies tapped new markets and expanded product lines.

Despite the long-term growth, the year-on-year increase was modest at 4%, up from $205 million in 2023-24. Industry leaders remain confident of sustained momentum as Bangladeshi medicines now reach 166 countries, up from 140 seven years ago.

Zahangir Alam, chief financial officer of Square Pharmaceuticals, credited the growth to the production of new molecules and medicines. He said recent market entries include Uzbekistan, Kazakhstan, and Kyrgyzstan, where regulatory processes have become more streamlined, enabling faster product registration.

“There is rising demand for affordable, quality generics in these markets,” Alam said, adding that companies are also exploring opportunities in Africa and Latin America.

Beximco Pharmaceuticals saw export growth of 25-30% in the last fiscal year despite facing exchange rate volatility and political uncertainty. Wasim Haider, the company’s international marketing manager, attributed this performance to new partnerships and substantial contributions from employees across all levels.

Industry analysts said Bangladesh’s pharmaceutical sector has steadily diversified its portfolio and improved regulatory compliance, enabling firms to expand despite global economic headwinds.