Chinese companies to step up pharma cooperation

Islamabad: Chinese companies to step up pharmaceutical cooperation with Pakistan, China Economic Net (CEN) reported on Saturday.

“Having provided over 20 million doses of vaccine made in Pakistan, we expect to deepen cooperation with this country”, said Xin Chunlin from CanSino at a CPEC B2B Conference. In the conference organized by the Board of Investment (BOI), Pakistan, providers of original new drugs and traditional Chinese medicines including Luye Life Sciences Group, Guangzhou Baiyunshan Zhongyi Pharmaceutical, Guangzhou Qixing Pharmaceutical also expressed their intention to cooperate with potential Pakistani partners. “Facing the common challenge of the ongoing pandemic, joining hands with the Pakistani brothers will bring benefits for both peoples”, Xin added.

CanSino is a renowned Chinese pharmaceutical company that has launched the single-dose CanSino COVID-19 vaccine branded PakVac locally produced in Pakistan last year. According to Ghazala Parveen, Chief Biological Production Division, National Health Institute, Pakistan, PakVac is producing more than 3 million doses per month, exceeding the initial expectation of 1 million and cutting the cost by 25%.

Meanwhile, Pakistan welcomes investment in the medicine sector. “Pakistani pharmaceutical sector is ripe for investment”, said Mr. Muhammad Radimuddin, Senior Techical Advisor to USP, on the conference. Comprising of 700 plus manufacturers and thousands of distributors, Pakistan’s $4 billion pharmaceutical market has been growing at a pace of 12.5 per cent CAGR.