KARACHI: The government, along with all stakeholders of the sector,
has set a target to enhance pharmaceutical exports to $1 billion in
the current financial year from $713 million in exports in the last
financial year.
This was stated by Asim Rauf, CEO Drug Regulatory Authority of
Pakistan (DRAP), in a press briefing held on the concluding day of
20th Pharma Asia.
The government is working proactively in collaboration with all
stakeholders of the pharmaceutical sector, including pharmaceutical
companies, raw material producers, and universities, to increase the
footprint of this sector in different countries.
We held a high-level meeting on the sideline of this conference to set
up a plan to achieve the target of $1 billion in exports in the
current financial year, he added.
Asim Rauf said the government is facilitating the private sector to
establish five API plants to increase the production of different
medicines at a local level for relying less on imported brands while
ensuring the medicines should be available at low prices in a domestic
market.
DRAP is working to design an integrated system Quality Management
System (QSM), with the close coordination of the provincial and
federal drug inspection teams as per the guidelines of WHO, which will
surprisingly decrease medicine prices in the future.
He said the DRAP monitors the availability and pricing of the medicine
in the local market through its robust mechanism of information
system, which also takes action against the culprits raising the
prices.
The prices of medicine witnessed an increase due to the Rupee
disparity against the Dollar, but the retail prices of a significant
number of drugs have also been reduced at the same time, CEO DRAP
claimed
The closing ceremony marked the successful conclusion of Pharma Asia
2023, acknowledging the collective efforts of the pharmaceutical
community in fostering growth, innovation, and sustainability within
the industry.
Speakers at various seminars highlighted the pivotal role of
regulatory bodies, industry players, and stakeholders in shaping the
future landscape of healthcare in the region.
“We are immensely honored to have had CEO DRAP grace Pharma Asia’s
closing ceremony. His insightful address and invaluable presence
underscore the collaborative spirit and commitment of stakeholders to
drive innovation and excellence in the pharmaceutical sector,” said
Mr. Farhan Anis, Vice President of Pharma Asia Exhibition.
Pharma Asia extends its gratitude to all sponsors, exhibitors,
speakers, delegates, and participants whose unwavering support and
participation contributed to the resounding success of this event.
With 650 stalls, the exhibition promises an extensive showcase of
cutting-edge products, services, and innovations. This year’s event
boasts participation from more than 160 international representatives
from China, Turkey, Vietnam, the UK, Germany, and Malaysia.
