http://www.riazhaq.com/2020/07/pakistan-pharma-among-worlds-top-3.html
Pakistan pharmaceutical industry and market are among the world's top 3 fastest growing, according to IQVIA health market research firm based in the United States. Pakistan’s domestic pharmaceutical firms sales have grown 13.1% compounded annually in the last 4 years, outperforming multinational companies (MNCs), which saw global growth of 9.34% CAGR. Pakistan's pharma sector is growing faster than in other emerging markets like Bangladesh, Brazil, India, Russia and Vietnam.
Emerging faster than the MNCs, the quarterly revenues of the local Pakistani pharmaceutical companies surged to Rs. 320 billion in the quarter ending March 31, 2020, compared with Rs. 195.75 billion as of March 31, 2016. Similarly, MNCs increased their quarterly sales in Pakistan to Rs. 143.2 billion at the end of the first quarter of 2020, up from Rs. 100.2 billion in Q12016, according to Pakistani media reports. Pakistan exported $217.04 million worth of pharma products during 2019, according to the United Nations COMTRADE database on international trade.
Pakistan Pharma Growth Among Top Fastest in the World. Source: IQVIA
Medicine spending growth in the emerging pharmaceutical ("pharmerging") markets continues to slow compared to the past five years and is projected to grow at 5–8% through 2023, according to US-based global market research firm IQVIA.
Pakistan Pharma Exports
Although China, Brazil and India have the largest medicine spending within the pharmerging markets, Turkey, Egypt and Pakistan are forecast to have the greatest growth between 2019 and 2023. Pharmerging market growth continues to derive primarily from increasing per capita use, but some markets are seeing wider uptake of newer medicines as patients’ ability to afford their share of costs improves with economic growth.
Pakistan's top 5 pharma companies, including GSK, Abbott, and AGP Pharma, saw their profits jump 37% in Q1/2020 over the same period last year, to Rs2.6 billion. In the same quarter, profits of 13 consumer giants, including Nestle, Packages, Pakistan Tobacco and Colgate, remained flat amid COVID19 pandemic.
In growing recognition of Pakistan's pharmaceutical sector, the US-based Gilead Sciences recently chose to license COVID19 drug Remdesivir to Pakistan's Ferozsons pharmaceutical company. Other Remdisivir licensees include pharma companies in India. Gilead said it signed non-exclusive licensing pacts with 5 generic drugmakers based in India and Pakistan, allowing them make and sell Remdesivir for 127 countries.
Related Links:
Haq's Musings
South Asia Investor Review
Vast Majority of Pakistanis Support Imran Khan's Handling of Covid19 Crisis
Pakistani-American Woman Featured in Netflix Documentary "Pandemic"
Coronavirus Lockdown, Lives and Livelihoods
Can Pakistan Effectively Respond to Coronavirus Outbreak?
Pakistan's Computer Services Exports
Pakistan's Aircraft Exports
How Grim is Pakistan's Social Sector Progress?
Pakistan Fares Marginally Better Than India On Disease Burdens
Can Imran Khan Lead Pakistan to the Next Level?
Democracy vs Dictatorship in Pakistan
Pakistan Child Health Indicators
Pakistan's Balance of Payments Crisis
Panama Leaks in Pakistan
Conspiracy Theories About Pakistan Elections"
PTI Triumphs Over Corrupt Dynastic Political Parties
Strikingly Similar Narratives of Donald Trump and Nawaz Sharif
Nawaz Sharif's Report Card
Riaz Haq's Youtube Channel
PakAlumni Social Network
http://www.riazhaq.com/2020/07/pakistan-pharma-among-worlds-top-3.html
Pakistan pharmaceutical industry and market are among the world's top 3 fastest growing, according to IQVIA health market research firm based in the United States. Pakistan’s domestic pharmaceutical firms sales have grown 13.1% compounded annually in the last 4 years, outperforming multinational companies (MNCs), which saw global growth of 9.34% CAGR. Pakistan's pharma sector is growing faster than in other emerging markets like Bangladesh, Brazil, India, Russia and Vietnam.
Emerging faster than the MNCs, the quarterly revenues of the local Pakistani pharmaceutical companies surged to Rs. 320 billion in the quarter ending March 31, 2020, compared with Rs. 195.75 billion as of March 31, 2016. Similarly, MNCs increased their quarterly sales in Pakistan to Rs. 143.2 billion at the end of the first quarter of 2020, up from Rs. 100.2 billion in Q12016, according to Pakistani media reports. Pakistan exported $217.04 million worth of pharma products during 2019, according to the United Nations COMTRADE database on international trade.
Pakistan Pharma Growth Among Top Fastest in the World. Source: IQVIA
Medicine spending growth in the emerging pharmaceutical ("pharmerging") markets continues to slow compared to the past five years and is projected to grow at 5–8% through 2023, according to US-based global market research firm IQVIA.
Pakistan Pharma Exports
Although China, Brazil and India have the largest medicine spending within the pharmerging markets, Turkey, Egypt and Pakistan are forecast to have the greatest growth between 2019 and 2023. Pharmerging market growth continues to derive primarily from increasing per capita use, but some markets are seeing wider uptake of newer medicines as patients’ ability to afford their share of costs improves with economic growth.
Pakistan's top 5 pharma companies, including GSK, Abbott, and AGP Pharma, saw their profits jump 37% in Q1/2020 over the same period last year, to Rs2.6 billion. In the same quarter, profits of 13 consumer giants, including Nestle, Packages, Pakistan Tobacco and Colgate, remained flat amid COVID19 pandemic.
In growing recognition of Pakistan's pharmaceutical sector, the US-based Gilead Sciences recently chose to license COVID19 drug Remdesivir to Pakistan's Ferozsons pharmaceutical company. Other Remdisivir licensees include pharma companies in India. Gilead said it signed non-exclusive licensing pacts with 5 generic drugmakers based in India and Pakistan, allowing them make and sell Remdesivir for 127 countries.
Related Links:
Haq's Musings
South Asia Investor Review
Vast Majority of Pakistanis Support Imran Khan's Handling of Covid19 Crisis
Pakistani-American Woman Featured in Netflix Documentary "Pandemic"
Coronavirus Lockdown, Lives and Livelihoods
Can Pakistan Effectively Respond to Coronavirus Outbreak?
Pakistan's Computer Services Exports
Pakistan's Aircraft Exports
How Grim is Pakistan's Social Sector Progress?
Pakistan Fares Marginally Better Than India On Disease Burdens
Can Imran Khan Lead Pakistan to the Next Level?
Democracy vs Dictatorship in Pakistan
Pakistan Child Health Indicators
Pakistan's Balance of Payments Crisis
Panama Leaks in Pakistan
Conspiracy Theories About Pakistan Elections"
PTI Triumphs Over Corrupt Dynastic Political Parties
Strikingly Similar Narratives of Donald Trump and Nawaz Sharif
Nawaz Sharif's Report Card
Riaz Haq's Youtube Channel
PakAlumni Social Network
http://www.riazhaq.com/2020/07/pakistan-pharma-among-worlds-top-3.html
