The Searle Company Limited (SEARL) has secured approval from the Drug Regulatory Authority of Pakistan (DRAP) to market and sell Denosumab injections, a biosimilar drug used in osteoporosis and oncology care, marking a key expansion in its pharmaceutical portfolio.
The listed pharma shared this development in a notice to the Pakistan Stock Exchange (PSX) on Monday.
“It is hereby informed that the company has successfully obtained registration of Denosumab injections 120mg and 60mg (biosimilar drugs) from the DRAP,” read the notice.
As the product registration holder in Pakistan, SEARL has been granted rights under a license agreement by Mabwell Pharmaceuticals, China (the manufacturer), to market and sell these biosimilar drugs in Pakistan.
The pharmaceutical shared that Denosumab is a monoclonal antibody and is to be used for the management of osteoporosis (60mg) and oncology care (120mg).
“We are pleased to inform that the company is now preparing for the commercial launch of Denosumab injections in Pakistan, marking a significant milestone in expanding its product portfolio.
“This development reflects the company’s commitment to enhancing its product offerings and strengthening its business, thereby improving the quality of its earnings and creating greater value for shareholders,” it added.
SEARL was incorporated in Pakistan as a private limited company in 1965 and was later converted into a public limited company. The principal activity of the company is the manufacturing and sale of pharmaceutical, consumer health and nutritional products. SEARL is a subsidiary of International Brands (Private) Limited.
International Brands (Private) Limited is the parent company of SEARL and holds 50.25% of its outstanding shares.
Earlier in July, SEARL announced the appointment of Tahir Ahmed as the Chief Executive Officer.
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