Pakistan aims to boost pharma exports to $1 billion, says regulator

KARACHI: Pakistan's drug regulator said on Thursday that the government and the pharmaceutical industry have set a target to increase pharma exports to $1 billion in the current fiscal year, up from $713 million in the previous year.

Asim Rauf, chief executive officer of the Drug Regulatory Authority of Pakistan (DRAP), told a news briefing on the sidelines of the 20th PharmaAsia conference and exhibition that the government is working proactively with all stakeholders, including pharma companies, raw material producers, and universities, to expand the sector's presence in different countries.

"We held a high-level meeting on the sideline of this conference to set up a plan to achieve the target of $1 billion in exports in the current financial year," he added. Rauf said the government is also facilitating the private sector to establish five active pharmaceutical ingredient (API) plants to increase the local production of various medicines and reduce reliance on imported brands, while ensuring the availability of low-priced drugs in the domestic market.

He said DRAP is working to design an integrated quality management system (QMS) with the close coordination of the provincial and federal drug inspection teams as per the guidelines of the World Health Organization (WHO), which will help lower drug prices in the future.

Rauf said DRAP monitors the availability and pricing of drugs in the local market through its robust information system, which also takes action against those who raise prices illegally. "The prices of drugs witnessed an increase due to the rupee disparity against the dollar, but the retail prices of a significant number of drugs have also been reduced at the same time."

PharmaAsia concluded its annual conference and exhibition with a ceremony attended by senior industry officials. The three-day event brought together pioneers, experts, and stakeholders from the pharma industry, showcasing cutting-edge innovations, fostering collaborations, and driving impactful discussions to advance healthcare solutions across Asia. The event featured 650 stalls and participation from more than 160 international representatives from China, Turkey, Vietnam, the UK, Germany, and Malaysia.