State-owned businesses can cut the cost of 33 medications by as much as 50%.

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 State-owned businesses can cut the cost of 33 medications by as much as 50%.

According to vital Drugs Company Limited (EDCL), the sole state-owned pharmaceutical company, the cost of 33 vital medications has been lowered by as much as 50%.

The business claimed that in the previous 60 years, there had never been so much advancement in just six months. The majority of medications could see price reductions within the next six months if this trend keeps up. EDCL added that the government will save a significant sum of money as a result.

At a news conference held on Wednesday, August 13, at EDCL's headquarters in Tejangao, the capital, EDCL Managing Director Samad Mridha provided this information.

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"The company is currently concentrating primarily on creating necessary drugs," he stated. Previously, needless medications accounted for a significant portion of it. However, Noor Jahan, the government's health advisor, and Dr. Sayedur Rahman, a special assistant professor, have said unequivocally that the people's health is the true advantage of this industry.

"Previously, raw materials were acquired through an opaque manner," he stated. We currently use a competitive, transparent, and tender-based procedure to acquire raw materials for medications. Production quality has also improved as a result of tighter oversight. In order to improve production efficiency and lower expenses, overtime has been decreased. To encourage staff, a "motivational program" has been implemented. Good contacts with unions and employees have been established. To guarantee a continuous supply of medications to government hospitals, supply chain management has also been enhanced.

Additionally, he stated that the global need for biological goods like erythropoietin and insulin is rising. For this reason, EDCL has now begun producing biological products and vaccines in addition to basic medications. EDCL is evolving into a forward-thinking, cutting-edge, effective, and promising public healthcare organization. It is no more merely a conventional state-owned organization.

According to Samad Mridha, who asserted that the government's directives have restored transparency in the procurement system, "all acquisitions are currently being conducted on a tender basis, which is useful in eliminating corruption." "EDCL aims to build two modern plants in the future," he stated. One biotech facility, where vaccine production preparations are being made. According to FDA regulations, the other is being constructed at Sirajdikhan, close to Dhaka, with contemporary technologies.

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Significant changes to the employment structure were announced by the managing director. 722 workers who were deemed superfluous and inefficient have already been let go. Plans to lay off over 1,000 additional personnel have been made, he said.

"EDCL had more than 2,000 excess workers relative to its manufacturing capability," stated one top EDCL executive. The majority of them were unskilled, and many of them possessed phony diplomas of educational competence. For a long period, they had been paid without doing any job. Many people were appointed as they pleased during the previous administration. Employees were even paid to sit in a room known as the "Rohingya Room." We cannot for such waste to occur once more.

"Work is underway to eliminate mismanagement and anomalies and turn EDCL into an efficient, cost-effective, and people-oriented organization," stated Samad Mridha. Our goal is to preserve EDCL. As a result, unneeded individuals have been cut.