Biopharma JV plans to double exports
by https://www.dawn.com/authors/397/the-newspaper-s-staff-reporter, The Newspaper's Staff Reporter · DAWN.COMLAHORE: A leading biopharmaceutical manufacturing joint venture plans to double its exports in a phased manner after it succeeded in establishing a modern European standard plant designed in line with the guidelines of respective international regulatory authorities.
Under certain export certifications, the JV also plans to obtain registrations for various global markets.
“We have accomplished expansion of our plant and now plan to move ahead to double our exports,” BF Biosciences (BFBIO) Chief Operating Officer Muhammad Farhan said while talking to Dawn on Thursday.
“In the first year, we will increase exports of our medicines to Rs750 million, followed by an identical increase to Rs1.5 billion in the next fiscal year,” he said, adding that initially, BFBIO would be eyeing less regulated markets in Central Asian states, Africa, and Central American countries for expanding its export base.
According to him, following the post-export certification, the company would focus on more regulated markets, including Indonesia, Belarus and Ukraine. The company’s major export destinations include Sri Lanka, Myanmar, Uganda, Kenya, and the Philippines.
BFBIO JV consists of Ferozsons Laboratories Ltd and Argentina’s Bagó Group. The company was the only Pakistani corporate licenced by Gilead Sciences for local manufacture and export of Remdesivir to countries in three continents.
“Our expansion and export plan is a step towards getting the US Food and Drug Administration (FDA) certification. If we achieve this milestone, we will be the first Pakistani company to have that certification,” Mr Farhan explained, adding that India already has five companies with FDA certification.
Published in Dawn, September 20th, 2024
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