Meeting discusses forming Pak-Russia JVs in pharma sector

ISLAMABAD: Pakistan and Russia, Wednesday, discussed and reviewed bilateral relations in industrial cooperation especially starting on joint ventures in pharmaceutical sector.

In this connection a meeting was held here under the chairmanship of Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, on insulin imports from Russia and joint ventures.

The meeting was attended by Denis Nazarov, Representative of the Russian government, senior officials from the Ministry of Industries and Production, Ministry of National Health Services, and the Drug Regulatory Authority of Pakistan (DRAP).

Discussions focused on the import of insulin from Russia, progress on pharmaceutical joint ventures, and the development of protocols for policy board implementation.

The meeting was informed that the DRAP had earlier granted registration to Genetics Pharmaceuticals, Lahore, for the import of insulin from Russian company Zavod Medsintez.

The meeting also discussed the matters related to the application of Eli Lilly’s for an increase in maximum retail price (MRP). The officials informed the meeting that if the DRAP is considering the application of the insulin manufacturer, then it will become costlier than the insulin of Novo Nordisk Pharma, another European insulin maker.

SAPM Haroon Akhtar Khan emphasised that the establishment of a pharmaceutical joint venture between Pakistan and Russia marks a significant milestone in strengthening bilateral relations. He noted that Pakistan is a major consumer of insulin, and the regular supply of insulin from Russia could greatly benefit diabetic patients across the country.

He stated that in line with government's vision, efforts are under way to initiate local manufacturing of insulin in Pakistan. A joint protocol between local manufacturers and Russian companies is expected to be finalised and presented soon.

Haroon Akhtar Khan directed all stakeholders to develop a comprehensive proposal prior to its presentation in the federal cabinet.

Copyright Business Recorder, 2025