ISLAMABAD, June 4 (INP): COVID-19 offers a good opportunity for Pakistan pharmaceutical industry to focus on research and development to fight the epidemic. According to a report published by Gwadar Pro on Thursday, in wake of COVID-19, the pharmaceutical industry could improve quality production to increase its share in the global medicines market to develop anti-epidemic vaccine.

The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) once projected the global pharmaceutical market to reach nearly $1.430 trillion by 2020. Pakistan’s pharma market is estimated at $2.29 billion with gross value-addition of $1.223 billion, according to the IFPMA.  

Analysts think pharmaceutical exports are unlikely to make any mark as the long lags in innovation of new products and absence of R&D. In response to how much the research and development is being done by the pharmaceutical industry in Pakistan, Ayesha T Haq, Executive Director, Pharma Bureau said that R&D in Pakistan was negligible. Without research, Pakistan cannot compete in the global market, she added.

Last month, the Pakistani firm Ferozsons Laboratories Limited’s subsidiary, BF Biosciences Limited (BFBL), has signed a non-exclusive license agreement with Gilead Sciences to manufacture Remdesivir a drug for COVID-19 patients for distribution in 127 countries. Gilead is working to build a consortium of manufacturing partners to bring efforts together to help maximise global supply, as the close coordination is critical for the manufacture of Remdesivir. This cooperation with Gilead definitely offered a good opportunity for Pakistan’s pharmaceutical exports especially at the current time the COVID-19 is spreading globally. Besides, to facilitate Remdesivir’s manufacturing, the drug-maker Gilead would provide appropriate technology transfers. Carrying on industry transfer will benefit Pakistan as it is an important way for pharmaceutical industry to speed up its development. INP/JAVED