LCCI concerned over victimisation of pharma industry

The Lahore Chamber of Commerce and Industry (LCCI) has expressed concern over undue victimisation of the domestic pharma industry. The LCCI President Irfan Qaiser Sheikh said that it is a matter of concern to target the pharmaceutical industry as a whole with bad publicity, which will also hamper the pharmaceutical exports as well as shake the confidence of citizens on the pharma companies.
He said that it has been observed that such cases sometimes occur in developed countries also. He said that there are a number of pharmaceutical companies, which are manufacturing quality medicines to cater to the national needs, along with exports to Middle East, ASEAN countries, CIS, African and other regional countries.
Irfan Qaiser Sheikh said that owing to the good reputation of the accused pharma company in Pakistan and abroad since the last 35 years, chances of conspiracy to malign the name of the alleged company may not be ruled out. He said that the owners of the company should be provided a fair chance to clarify their position and allow them an opportunity to carry out an internal audit and investigation in this regard.
The procedures of Drug Act 1976 and prevailing laws and procedures should be followed, he suggested. He urged all concerned to stop mal-handling of the matter as it is an isolated case and wait for the judicial commission's report, otherwise, it will bring a killing impact on the domestic pharmaceutical industry, which meets 70 percent of national need, and the export of medicines of around $200 million will be severely affected.
He said that today, Pakistan has a very vibrant and forward looking pharma industry around 400 pharmaceutical manufacturing units including those operated by 25 multinationals present in the country. The national pharma industry has shown a progressive growth over the years, particularly over the last one decade and such case of victimisation pharma industries will have damaging affect on the entire pharmaceutical industry, he added.