Consistency and transparent implementation of policies will help enable the pharma industry to provide research-based products besides employment opportunities and transfer of technology, CEO and MD Bayer Pakistan, Dr Imran Ahmad Khan, said.

Talking to a select group of media during his visit to a plant of Bayer Pakistan in Lahore, Khan said that prompt and decision-making would foster an environment where innovation can flourish with the aim to provide better opportunities for all.

"As a multinational life science company is committed to advancing quality healthcare and nutrition in Pakistan, we look to the government and regulatory stakeholders to work with us to create a positive, supportive regulatory environment that increases the ease of doing business," said Dr Khan.

He said technology transfer is an important area where multinational pharmaceuticals can positively boost the industry through contract manufacturing, if enabled by a change in regulation by government to do so.

Dr Khan further elaborated, "Contract manufacturing allows for the high production and quality-control standards of multinationals to be adopted by local contract manufacturers, effectively contributing to raising the bar on the industry overall."

"Amendments in the regulatory framework to expedite registrations of pharmaceutical products will enable pharmaceutical companies to help the government address major challenges in healthcare in a timely manner," he said. "Government support will open up avenues for further investment, as a rational pricing policy will make the introduction of new molecules and new products in Pakistan financially viable, and will help to effectively meet the healthcare challenges of today."

Khan said, "Devaluation of the Pakistani rupee in recent times, as well as domestic inflation and other factors present a challenge to the sustainability of multinational companies in Pakistan."

He added that a considered pricing policy is a must to provide respite to pharmaceutical companies like Bayer, which simply do not compromise on high quality standards. These standards are ultimately beneficial to patients in terms of quality and efficacy of treatment, he said.