Pakistan Pharma Summit 2024: experts gather with aim to chart path for growth in pharmaceutical industry
ISLAMABAD: The 7th Pakistan Pharma Summit, held at the Serena Hotel in Islamabad, brought together industry leaders, government officials, and international experts to discuss the future of Pakistan’s pharmaceutical sector.
Mian Khalid Misbah ur Rehman, Chairman of the Pakistan Pharmaceutical Manufacturers Association (PPMA), opened the summit with an ambitious vision. He highlighted the potential for growth in Pakistan’s pharmaceutical exports, currently estimated at just over $300 million, compared to the global industry total of $1.6 trillion.
Misbahuddin announced a target to jack up exports by ten times to over $3 billion within five years.
He said the industry recently saw 24% growth, crediting the Drug Regulatory Authority of Pakistan (DRAP) for recent price deregulation efforts.
Misbahuddin emphasised the role of the PPMA, a recognised trade body founded in 1961, with over 250 members fulfilling 90% of the country’s medicine needs through local production. He expressed optimism that the industry could meet its $3-billion export goal but acknowledged ongoing challenges that threaten its survival.
He urged the government to expedite the passage of amendments to the Drug Act of 1977, which he said is critical for the growth of the pharmaceutical industry. While deregulation has led to increased drug prices, it has also improved the overall availability of medicines, alleviating severe shortages in the market.
The summit featured prominent speakers, including Dr Mehmood Khan, CEO of the Hevolution Foundation in Saudi Arabia. He addressed the theme “From Molecules to Markets: Leveraging Global Innovation, Collaboration, and Leadership Insights to Unlock Pakistan’s Life Sciences Potential.” His insights focused on the importance of collaboration and innovation in propelling Pakistan’s pharmaceutical landscape.
Dr Qaiser Waheed, former chairman of PPMA, underscored the need for digital transformation in the pharmaceutical sector to remain competitive, particularly against regional rivals like India and Bangladesh.
He criticised the current oversight of controlled substances by narcotics officials instead of health officials, calling for specialized regulatory attention.
“We must ensure that the powers of DRAP remain intact and are not shifted to departments lacking medical expertise,” Dr Waheed stated, voicing concerns over regulatory efficacy.
Dr Malik Mukhtar Ahmad Bharath, Coordinator to the Prime Minister on Health, echoed these sentiments. He noted that Prime Minister Shehbaz Sharif is committed to transforming the pharmaceutical industry into a leading export sector.
He assured attendees that the government is focused on developing supportive policies to facilitate industry growth. “This summit provides a unique opportunity for stakeholders to collaborate on strategies that will strengthen the pharmaceutical sector,” he said.
Bharath also addressed the complexities of the Drug Act, noting that health has devolved to the provinces after the 18th Amendment. He promised to bring consensus documents through the Council of Common Interests (CCI) to move forward.
Pinar Kivilcim, Global Client Officer at Ipsos Healthcare, presented the critical role of market research in shaping the pharmaceutical landscape. Her presentation, “From Insights to Impact: Leveraging Market Research for Pharma Growth,” emphasized the need for data-driven decision-making to better understand market dynamics and consumer behavior.
Asim Rauf, CEO of DRAP, highlighted the ongoing efforts to achieve WHO Level-3 certification for the regulatory body, which will enhance the industry’s standing in international markets. He mentioned that DRAP is preparing for an international audit and expects the industry to follow suit.
Rauf lauded the summit’s theme, stating that it reflected the industry’s alignment with global trends. “Despite the challenges, the pharmaceutical sector in Pakistan is continuously growing, and exports are on an upward trajectory,” he remarked, adding that recent access to the UAE and European markets underscores the industry’s progress.
Dr Dennis Hall, Vice President for Advanced Manufacturing Technologies at the US Pharmacopeia, discussed the digital transformation of pharmaceutical manufacturing, emphasizing that investments in cutting-edge technologies improve efficiency and enhance product quality, which can boost export potential.
Dr Semih Kumluk, an expert in AI and digital transformation, discussed how AI is reshaping the pharmaceutical landscape, particularly in drug discovery and clinical trials. He stressed the importance of leveraging AI for personalized treatments, underscoring the role of data in this evolution.
Minister for Commerce Jam Kamal Khan reaffirmed the government’s commitment to revitalising the pharmaceutical industry. He announced the reactivation of 16 sectoral councils to develop comprehensive plans for industrial growth and trade promotion. The minister highlighted that suggestions from these councils will be presented to the Export Development Board, chaired by the Prime Minister, for swift implementation.
The efforts of M. Haroon Qassim, Chairman Summit Organizing Committee and Dr. Qaiser Waheed, Conference Chairman were lauded for organizing the summit in a befitting manner.
The summit concluded with the Pharma Export Summit Awards (PESA 2024), where Yusuf Raza Gilani, Chairman of the Senate of Pakistan, served as Chief Guest. He commended the industry’s achievements and its increasing export potential, particularly in high-value markets such as the U.S. and Europe. “This is a promising industry with a bright future,” Gilani stated, as he presented awards to the top 50 exporting companies.
Copyright Business Recorder, 2024
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