Pharma exports to touch $600m by 2010: exporters
By Razi Syed
KARACHI: Pharmaceutical sector of Pakistan is capable to enhance its exports to the tune of more than $600 million by 2010, the manufacturers and exporters said on Friday.
A senior member of Pakistan Pharmaceutical Manufacturers Association (PPMA), Dr Kaiser Waheed said currently Pakistan was exporting pharmaceutical worth $85 million while the industry was aiming to expand and this would only be possible when government puts a ban on the import of medicine, produced by the country.
India and China are two low-cost drug manufacturers. Pakistan, unfortunately, is located between these two countries. But now, Pakistan is all set for the action. For the past 10 years, the nation has been establishing its drug-manufacturing units, infrastructure and export capabilities.
He said around 22 international pharmaceutical players and about 380 registered national units are functioning in Pakistan. The total worth of pharmaceutical industry of Pakistan is estimated at $1.9 billion.
He said the country has a low-cost base and the cost of converting generic drugs into their more famous derivatives is among the lowest in the world.
He pointed out that the ideal location of the country at the world’s centre makes it cost-efficient in terms of freight costs.
Also, a number of drug courts are working in Pakistan to ensure the quality control of the manufactured drugs and to govern the authentication of exported drugs, he added.
We are exporting medicines to Sri Lanka, Vietnam, African countries and Philippines, he added.
A report on ‘World Pharmaceutical Market (2007)’ by RNCOS’ Research Analyst puts forth his views that Pakistan is already trading its pharmaceutical products abroad to highly organised markets.
Also, the country is a part of TRIPS agreement and since 2000, it has its Intellectual Property Legislation duly placed, its pharmaceutical industry is waiting to fly high.
He said the manufacturers were importing blister units, tablets and capsules making machinery from Korea, China and Germany due to their quality and cost effectiveness. The government should provide incentives to pharmaceutical exporters in shape of cost sharing for registration of pharmaceutical products in foreign markets.This would result in enhancement of the export of pharmaceutical products in the foreign markets and help government to achieve the set target of the export during the fiscal year 2007-08.