Ferozsons Laboratories plans expansion of biotech medicine facility

KARACHI: Ferozsons Laboratories Limited plans to expand its biotech medicine subsidiary BF Biosciences to tap high quality injectable drugs market for therapies as diverse as oncology and immunization, an official said on Thursday.

“BF Biosciences was established as a state of the art manufacturing facility to produce biotech medicines locally and thus substantially reduce treatment costs for patients in the country,” Osman Khalid Waheed, CEO Ferozsons told The News in an email interview.

“The biotech company recorded a net revenue of Rs609 million in the last fiscal year, while Ferozsons Laboratories, in order to keep pace with the latest technologies in pharmaceutical industry, made a capital investment of Rs307 million for balancing and modernization of its manufacturing facilities.” Ferozsons posted a net profit of Rs394 for the year ended June 30, 2017.

To a question about the business environment for pharmaceutical companies in the country, Waheed said there was a need for stability and consistency in the policymaking in this regard.

“Having said that, there have been significant improvements made in the working of Drug Regulatory Authority (DRAP), and they are starting to become visible,” he said adding, “A clear direction on pricing policy and drugs registration parameters that rewards quality will help the industry continue on the path to improved standards and higher exports.”

On the latest trend of multinational drugmakers’ winding up their businesses in Pakistan, Waheed said the size of the market, buying power and inconsistency in policies as well as Pakistan’s consistent deterioration on World Bank’s Ease of Doing Business index might be some of the reasons behind these departurer.

He said Ferozsons had forged partnerships with international research companies to produce and provide innovative treatments and therapies. “Our partnership with GE Healthcare and the government of Punjab has helped us provide access to quality Antenatal care for hundreds of thousands of women in rural areas,” Waheed said. He added that in a recent partnership PanTheryx, Inc. USA, Ferozsons has introduced DiaresQ sachets, a breakthrough therapy for diarrhoea relief in children and adults.