KARACHI: Pakistan’s pharmaceutical sector has witnessed tremendous growth due to the deregulation policy, which was introduced with the assistance of the Special Investment Facilitation Council (SIFC). The policy has significantly aided economic development in the nation.
Since its introduction, the policy has resulted in a 210% profit growth, reaching 13.5 billion Pakistani rupees in profit. The industry’s three top pharmaceutical companies have seen their earnings grow by a whopping 44% to 339%. The pharmaceutical industry’s collective revenue for 2024 increased by 21.1%, reaching 196.8 billion rupees.
The policy of deregulation has not only enhanced the availability of drugs but also resulted in the manufacture of essential drugs, such as popular ones like Panadol. The policy has increased transparency in drug prices, competition, and access to high-quality for the public.
Deregulation has also favored pharmaceutical firms, which are making investments in researching new drugs that will further increase their quality. Further, it wards off inferior and higher-priced drugs being marketed.
Owing to such beneficial developments, Pakistan’s pharmaceutical business is today more market-friendly for investments, and international investment in this business will grow.
