KARACHI: The Pakistan Pharmaceutical Manufacturers Association (PPMA) has stated that 61% of major 28 selling brands are inexpensive in the country as compared to India and Bangladesh.
At a press conference, PPMA Chairman Saeed Allawala dispelled the impression about the ‘growing wealth of the pharma industry’.
He showed comparative slides of the 28 top selling brands with their prices in Pakistani rupees to support his arguments.
“The pharma industry needs to raise medicines prices to keep afloat. Since the seizing of medicines prices in 2001, the cost of production and utility services, transport and other expenses has now risen by 300pc,” he said.
“Owing to this situation, how can the industry survive without price rationalisation?” he questioned.
He informed that there are 90 Food and Drug Authority (FDA) certified plants in India while Italy has 40, China 22, Taiwan 10, Bangladesh 4 and Jordan has 3, adding: “Pakistan does not have any FDA certified plant.”
From 2006 to 2008, profitability percentage of Glaxo Smith Kline decreased from 22pc to 14pc, Abbott Laboratories Pakistan 23pc to 6pc, Wyeth Pakistan Limited 20pc to 10pc.
He said pricing should be reformed and rationalised to support public health and industry performance, and incentives be offered to invest in FDA-quality plants to increase exports. Contract manufacturing should be allowed without limitation and government should set high and uniform quality bar, and enforce it, he stressed.
He claimed that about 100 pharmaceutical factories had been closed since 2001.
The PPMA chief sought Prime Minister Mian Nawaz Sahrif and Finance Minister Ishaq Dar’s intervention to ease the situation.
Pakistan cuts mango export target by 30,000 tons as Mideast crisis disrupts markets
ISLAMABAD: Pakistan’s mango exporters have cut this year’s export target by 30,000 tons, or nearly 30 percent, warning that conflict-related...
