Saturday November 27, 2021

SAPM urges drug-makers to invest in export boost

October 03, 2021

KARACHI: Dr Faisal Sultan, Special Assistant to Prime Minister (SAPM) on Health, on Saturday called on the drug-makers to boost their exports to reduce the overall trade gap, which would prove a shot in the arm of economy.

The PM’s aide on health stated this while addressing the concluding ceremony of the 1st Pharma Export Summit & Awards-2021, organised by Pakistan Pharmaceutical Manufacturers’ Association.

Dr Sultan called on the Pakistani drug makers to invest more in research and innovation so that the country could be able to produce medicines and introduce medical interventions required in future to treat the patients.

He cited examples of globally renowned pharmaceutical companies that earned trillions of dollars as profit owing to their extensive hard work in the field of research and innovation.

“We do believe the Pakistani pharmaceutical industry has the potential of making much more progress and advancement as compared to where it stands today.”

The industry had the potential of increasing Pakistani pharmaceutical exports to surpass the present target of $ 5 billion, he said.

He said the government had made up its mind that a reform process would be launched to upgrade the working of the Drug Regulatory Authority of Pakistan to enhance its capacity to regulate all therapeutic goods, medical equipment, and devices being sold in the country.

The PM’s aide acknowledged that the present drug regime had often proved to be too cumbersome for launching new medicines in the Pakistani market discouraging the concerned industrialists from such investment, which was otherwise necessary for the protection of public health.

He said the drug industry was among three to four main sectors having the capability to boost country’s exports.

He also directed pharmaceutical industry to ensure quality, availability, and affordability of their products at every cost.

“Always keep in mind that your main stakeholder is the patient as availability of quality medicines at cheap rates to the patients is your business, obligation, and also honour,” Dr Sultan said.

He said a mechanism of best and competitive pricing should be adopted to ensure the public should get access to the essential medicines in the country.

He urged the pharmaceutical industry to adopt a set of ethical guidelines for the marketing of its products as doing so would increase its credibility and respect in the eyes of the public manifold.

In his concluding remarks Dr Sultan appreciated the investment made by the Pakistani drug industry to match international standards manufacturing.