Pak firms eye $7b pharma market of Central Asian region

ISLAMABAD  -  Pakistani pharmaceutical company’s representatives held sideline meetings with health ministers and delegations of foreign countries who were attending first ever two-day Global Health Summit held in Islamabad this week. 

In one of the bilateral meetings on the sidelines, Health Minsiter of Kyr­gyzstan, Alymkadyr Beishenaliev met several Pakistani pharmaceutical rep­resentatives and showed interest in importing Pakistani medicines in a $650 million pharmaceutical market of Kyrgyzstan’s 7 million population. He also informed local manufactures that new government policy will only allow state owned pharmacies in government run hospitals to provide affordable and quality medicines in his country. 

Dr Yasir Shirazi, seasoned Pakistani pharmaceutical professional of Central Asian Region (CAR), told The Nation that this is big opportunity for local manufac­turers not only to export medicines but also technology to CAR region which is approximately $7 billion pharmaceu­tical market and don’t produce local medicines. Dr. Shirazi further said Paki­stan has 250 million population and our pharmaceutical market is of $1.2 billion.

Dr Sherazi also gave proposals to Kyrgyz Health Minsiter to facilitate visa policy for Pakistani business communi­ty and to start expert exchange program including doctors and pharmaceutical experts to cope with high relevance diseases in both countries such as dia­betes, liver and heart diseases pattern and treatment. Nayyar Bukhari, a local manufacturers, told The Nation that CAR is 96 to 97% dependent on foreign medicines. Pakistani manufacturers are doing well in the region having tough competition from other countries. Paki­stani government should also make manufacturer friendly policies to in­crease exports of the country. 

Beishenaliev also talked about cre­ating global safety mechanism in post Covid era across the countries. He em­phasized on well being and facilitation of 12,000 Pakistani students who’re studying in Government and private medical universities in Kyrgyzstan. Trade Development Authority of Paki­stan (TDAP) facilitated meetings of local pharmaceutical companies with the visiting delegations.

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