Pak pharma sector getting global recognition

LAHORE: Pakistan’s pharma sector is getting global recognition due to the support of Special Investment Facilitation Council (SIFC).

Haleon, a world leader in consumer health, has announced 12 million dollars investment in Pakistan. The company aims to expand its production capacity and scale up the manufacturing of Panadol to meet the country’s growing demand.

It may be added that Pakistan’s pharmaceutical exports have witnessed upward trend and reach US $457 million during the current financial year owing to the support of Special Investment Facilitation Council (SIFC).

As per data made available, the exports of Therapeutic products including Pharma, Surgical, Dietary Supplements, and medical devices have been registered to record 909 million dollars.

Sources in the Pakistan Pharma Manufacturers Association (PPMA) said the exports of Pharma also surged by 34% during the fiscal year due to the government’s reasonable pricing policy.

The policy of price deregulation is in line with international standards, which has resulted in the increase of investment and production, the sources added.

It may be added that Afghanistan, Philippines, Sri Lanka, Uzbekistan and Iraq are among the major buyers of Pakistani medicines, while Kenya, Vietnam, Myanmar and Thailand also have potential for significant exports to these countries.

The sources claimed that the Pakistani pharma exports would reach 1.5 brillion dollars in global market by the year 2030.

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