Pharma makers eye $1bn exports by 2010 By Muhammad Yasir
KARACHI: Pharmaceutical industry is one the most potential sectors of Pakistan that the government considers being the fastest export-oriented as well as profitable for the country owing to a less competitive international market.
Zahid Saeed said exports of pharmaceutical sector had recorded tremendous growth, netting US$63 million during the year 2004-05. Earlier, the exports had remained frozen around $25 million in the previous four years.
“The pharmaceutical exports are rising rapidly at the rate of 20 per cent per annum and the sector is expected to attain 40 to 45 per cent growth in manufacturing and exports by 2010,” he anticipated.
“We (pharmaceutical industry) has set an export target of $1 billion by 2010, which is achievable.”…
Subhan’Allah.
Considering i’m in the UK and there’s always a bad image of medicines produced from the poorer countries here. How well are the Pakistani medicines are trusted within Pakistan?
Re: Pakistani medicine exports to reach $1bn in four years
Subhan'Allah.
Considering i'm in the UK and there's always a bad image of medicines produced from the poorer countries here. How well are the Pakistani medicines are trusted within Pakistan?
Subhan'Allah indeed,
as long as manufacturing tolerances are being monitored, the quality will be perfect(in spec). if the exports are approaching $100mil then we can safely assume the standards are world class
Re: Pakistani medicine exports to reach $1bn in four years
People within pakistan has reasons not to trust medicines, its not the case of legel medicines made in pakistan are sub standard, but cause there are many counterfiet medicine in the market.
but export will be done by direct manufacturers so will not have this issue at all. medicine produced in Pakistan by GSK are same as produced by GSK in UK and same goes for other brand names.
Re: Pakistani medicine exports to reach $1bn in four years
Heres the problem GSK medicines same in PK as World. Thats GSK not local manufacturers. My family are involved in the pharmacutial market in Pakistan and themarket is swamped with counterfits. You can not analyse every table before dispensing, it's a matter of trust. Therefore if I supsect a supplier has fakes I simply wont buy even if cheaper.
The reason GSK produce local supplies in PK is becuase they are forced todo so or other big brands are made under licence. Thats all well but anyone can setup up a plant making what is essentialy a recipe. The real money is in developing new drugs. These can then be sold for a massive profit margin when under patent and produced elsewhere under licence for royalties. This is where Pakistan sucks, same for India althoug they now have start up's developing new drugs.