ISLAMABAD: COVID-19 offers a good opportunity for Pakistan pharmaceutical industry to focus on research and development to fight the epidemic.
According to a report published by Gwadar Pro on Thursday, in wake of COVID-19, the pharmaceutical industry could improve quality production to increase its share in the global medicines market to develop anti-epidemic vaccine.
The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) once projected the global pharmaceutical market to reach nearly $1.430 trillion by 2020. Pakistan�s pharma market is estimated at $2.29 billion with gross value-addition of $1.223 billion, according to the IFPMA.
Analysts think pharmaceutical exports are unlikely to make any mark as the long lags in innovation of new products and absence of R&D.
In response to how much the research and development is being done by the pharmaceutical industry in Pakistan, Ayesha T Haq, Executive Director, Pharma Bureau said that R&D in Pakistan was negligible. Without research, Pakistan cannot compete in the global market, she added.
Last month, the Pakistani firm Ferozsons Laboratories Limited�s subsidiary, BF Biosciences Limited (BFBL), has signed a non-exclusive license agreement with Gilead Sciences to manufacture Remdesivir a drug for COVID-19 patients for distribution in 127 countries.
Gilead is working to build a consortium of manufacturing partners to bring efforts together to help maximise global supply, as the close coordination is critical for the manufacture of Remdesivir.
This cooperation with Gilead definitely offered a good opportunity for Pakistan’s pharmaceutical exports especially at the current time the COVID-19 is spreading globally.
Besides, to facilitate Remdesivir’s manufacturing, the drug-maker Gilead would provide appropriate technology transfers.
Carrying on industry transfer will benefit Pakistan as it is an important way for pharmaceutical industry to speed up its development.
With input from INP
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