pharmaceutical industry in pakistan 2019

GlobalData Pharma’s 2019 industry outlook survey reveals that more than 50% of global industry respondents believe that drug pricing and reimbursement constraints will have the greatest negative impact on the pharmaceutical sector in 2019. Some manufacturers, however, welcomed the decision while stressing the need for introduction of one molecule one price mechanism. Pakistan reports 1,123 coronavirus cases in one day, Now, I will oversee state institutions, says PM. In the meanwhile, he added, electricity tariff was increased by 45%, gas 65%, and diesel 95% as all these factors also directly affect the industry’s cost of production. Also, the pharmaceutical sector recorded the highest sales in March, while it fetched $1.3 million foreign direct investment (FDI) in April 2020. In terms of monetary value, the size of the pharmaceutical industry in Pakistan is $3.10 billion (Rs. Drug testing is an expensive business. Due to high rupee depreciation, overall industry growth in dollar terms in the first quarter of 2020 remained negative. The country’s first private sector, state of the art contract analytical laboratory has been set up in Islamabad and received approval from the Drug Regulatory Authority of Pakistan. DUBLIN--(BUSINESS WIRE)--May 24, 2019--The “Healthcare and Pharmaceutical Market in Pakistan” report has been added to ResearchAndMarkets.com’s offering.. And local pharmaceutical industry has continued to agree on regional benchmarking of price in this difficult situation where Indian, Bangladesh, and even Afghan currencies are valued much higher than Pak rupee. @media (max-width:600px){ Outsource testing is a well-established and accepted international practice. “Apart from the last three months, the next twelve months will also be very tough for the Pakistan economy,” said Taha Khan Javed, Head of Equities at Al Meezan Investment. width:auto; Javed said few industries including the pharmaceuticals of the country could play a vital role in their capacity to help the national economy. At the time of the independence of Pakistan in 1947, there were few production units in the country. Pakistan Economic Survey 2019-20 disclosed that the pace of contraction diminished in the pharmaceutical sector, as it registered 5.38 percent decline during July to … DRAP Act 2012 is applicable on all manufacturers. But the impact of the pandemic would be severe in the coming months, as the International Monetary Fund (IMF) has revised down its world GDP projections and now expects a contraction of 4.9 percent in 2020. The pharmaceutical industry in Pakistan has grown during the past recent decades. More such establishments in the country are the answer. He hoped that the decision would help saving consumers more than Rs7 billion annually. In a presser earlier, PPMA Chairman, Zahid Saeed said the cost of production of the local pharmaceutical industry has increased manifold since 2018. “Pakistan has one of the harshest drug price control regime in the world as all 1400 molecules are determined by price determination factor. Having more government testing laboratories is not the solution. A state-of-the-art quality control testing lab will cost a hefty sum. Recently the government allowed the increase in prices of around 45,000 medicines by 15% following a suo motu notice taken by the Supreme Court. But in some hardship cases, prices of 464 medicines were increased by over 15% because their cost of production had become unbearable for the industry and production of many of them had already been stopped. float:none; APROPOS the article ‘Pharma industry’ (Oct 28). The Health Ministry has given May 20 deadline to the pharmaceutical companies to decrease prices. .ads_between_content{ He said the pharmaceutical industry will not demand any price adjustment if the situation prevailing in January 2018 is brought back. The pharmaceuticals have remained functional during the Covid-19 pandemic and in fact registered growth. Price focused strategy will result in discontinuation of production of low priced drugs, putting enormous burden on low income segment of society, said executive of a pharmaceutical company. And the rest of the products are left for market forces to decide,” he said. US elections: What’s at stake for Pakistan’s economy? Government has set 20th as deadline for pharmaceutical companies to decrease prices.

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