Yusuf Raza Gillani Urges Pharma Industry to Utilize Local Herbal Plants to Save Foreign Exchange

ISLAMABAD: Senate Chairman Syed Yusuf Raza Gillani has encouraged Pakistan’s pharmaceutical industry to adopt local herbal plants for producing raw materials, which could significantly reduce reliance on imports and save foreign exchange. Speaking at the 7th Pakistan Pharma Summit 2024, organized by the Pakistan Pharmaceutical Manufacturers Association (PPMA) in Islamabad on September 25, 2024, Gillani emphasized the need for innovation and increased research capabilities within the sector.

Gillani applauded the pharmaceutical industry for its commitment to meeting the country’s drug needs, even during challenging times like the COVID-19 pandemic and natural disasters. He noted that the industry currently supplies around 85% of Pakistan’s drug requirements and commended the award-winning manufacturers for their dedication to healthcare and the national economy.

He urged the industry to focus on developing patents, adopting digital solutions, and enhancing research capabilities to drive sustainable growth. Additionally, Gillani encouraged the sector to form global partnerships, invest in advanced manufacturing facilities, and explore biosimilar production to strengthen its international presence, particularly in highly regulated markets like the USA and Europe.

With current pharmaceutical exports valued at approximately USD 325 million, Gillani highlighted the potential for exponential growth. He reassured industry leaders of the government’s commitment to providing a conducive environment for expanding exports and achieving global competitiveness. He also recognized the sector’s success in reducing Pakistan’s import dependency by producing nearly USD 3 billion worth of quality medicines domestically each year.

Reflecting on legislative support, Gillani mentioned the historic Drugs Act of 1976, introduced by the PPP government, and assured the industry that necessary updates are being considered to keep up with international standards. He added that the deregulation of non-essential drug prices could encourage further investment, and he presented Export Trophy Awards to leading manufacturers in recognition of their economic contributions.

In his welcome address, Ch. Israr Sharif, Senior Vice Chairman of PPMA and CEO of Genix Pharma, noted that only a few Pakistani pharmaceutical companies have achieved international certification, lagging behind regional competitors like India and Bangladesh. He recommended a streamlined decision-making process within a single government department to facilitate exports and proposed that pharma industry revenue should be partially reinvested to drive growth.

Haroon Qassim, Co-Chairman of the Pharma Summit, echoed these sentiments, emphasizing the importance of international collaboration, including certification support from the U.S. Pharmacopeia (USP) and the use of artificial intelligence in pharmaceutical processes. He highlighted the PPMA’s commitment to organizing forums like the Pharma Summit and PESA Awards to foster innovation and address industry challenges.

The event concluded with a vote of thanks by Ch. Israr Sharif, encouraging stakeholders to continue investing in Pakistan’s pharmaceutical sector for future growth and sustainability.

PharmaSummit2024 #YusufRazaGillani #HerbalPharmaceuticals #LocalRawMaterials #PakistanPharma #PPMA #DrugExports #InnovationInPharma