Pharmaceutical sector was the most organised sector in Pakistan after Textile. Its volume of business has been nearly Rs 60 billion. Local companies have gradually been improving, their performance in sales and quality in pharma business.
In 1980 the market share of multinational companies was 80 percent whereas local companies had a share of 20 percent. Now the share of multinational and local was about 50 percent each in terms of value and in terms of volume the share of multinational and local companies was 35 and 65 percent respectively.
This was stated by Ghiyasuddin Ahmad director marketing ATCO Pakistan while speaking in a PTV programme.
He said the main reason behind this quick expansion was that most of the population in South East Asia was deprived of necessary medical facilities. The medical facilities were gradually reaching to the masses.
The Western population has been stagnant and reducing and most part of the population have been availing medical facilities.
He said, the reduced prices of local companies were major factor for their thriving business, in some cases the local companies were charging even 100 percent less prices from the multinationals.
He said the growth rate of some Pakistani companies was 50 percent per annum. Some multinational companies were selling their products at high prices whereas the same product was being offered at 50 percent less by local companies, he added.
To a question he said the local companies were not well versed in research work. The main reason was its high costs. Local companies also do not have necessary know-how to conduct research.
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