LAHORE: The difference of opinion of pharmaceutical companies over the drug pricing policy will be settled in few weeks due to the mounting pressure from the stakeholders.
The pharmaceutical sector claims that prices of finished goods in Pakistan are the lowest in the region and the sector is the second largest contributor to the national exchequer following textiles. Like others, its potential for growth is huge and unrealised.
“If the government finalises the policy as per the stakeholders’ recommendations, then the pharmaceutical industry could easily grow five-fold from its current size in the next five years,” said Pharma Bureau Chairman and Chief Executive Officer Novartis Pakistan Shahab Rizvi.
The pharmaceutical industry’s current size is $2.3 billion with around 600 registered companies. According to industry experts, it could easily cross $10 billion with increased exports, which currently stand around $20 million.
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