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Pakistan to produce Hepatitis C, cancer drugs - Lahore_Real_Estate - 09-24-2011 01:15 PM
LAHORE: Punjab Chief Minister (CM) Shahbaz Sharif and Argentine Ambassador to Pakistan Rodolfo Martin Saravia inaugurated the new corporate office of the bio-pharmaceutical company BF Bioscience, the first joint venture of Argentina and Pakistan, at Sunder Road, Raiwind, on Friday.
BF Bioscience, a joint venture of Ferozsons Laboratories and Bago Group of Argentine, is Pakistan’s first biotech pharmaceutical company and manufacturer of medicines to treat Hepatitis C and cancer. These drugs were previously being imported into Pakistan from other countries and were around three times costly. The company has been established with a total investment of Rs 1 billion.
Renowned lawyer Aitizaz Ahsan, MNA Pervaiz Malik, doctors, scientists and businessmen were present during the inaugural ceremony.
Speaking on the occasion, the CM congratulated company’s CEO Osman Khalid Waheed and Argentine Ambassador Rodolfo Martin for this partnership between Pakistan and Argentina for manufacturing the drugs that were badly needed in Pakistan. While praising the factory building and infrastructure, the CM said that he could not recall a factory of such a standard doing a great job at a par with the international standards.
Regarding the company CEO’s announcement of further reducing the cost of Hepatitis C drug’s six-month treatment to Rs one lakh, he said that it would be a great contribution for the betterment of the suffering humanity. The CM said that Ferozsons had been doing a remarkable job in the fields of book publishing since the days when he was a college-going student and the group had become a pioneer in the medicine production. The CM said that unfortunately, there was no dengue vaccine available currently; however, he said that the Punjab government was making arrangements to put viral infection plan in action within a month.
Waheed said that Hepatitis C had affected 10 million people in Pakistan. Since its inception, his company has reduced the cost of treatment of this disease by more than 50 percent.
Addressing the ceremony, he announced that to benefit the growing number of hepatitis patients, they were further reducing the cost of six-month treatment with pegylated interferon to around Rs 100,000. “The same treatment with imported drugs used to cost over Rs 300,000 before the company commenced production of this drug,” he informed.
He also said that Punjab had emerged as a new pharmaceutical hub and there were problems to deal with the industry in the wake of the 18th Amendment. He said that in order to resolve all emerging problems of the pharmaceutical industry regarding drug registration and drug agency, the problems should be dealt separately, province-wise.
Speaking on the occasion, the Argentine ambassador stressed on the humanitarian nature of the Argentine investment in Pakistan. “Argentina chooses to be represent itself through peaceful and humanitarian efforts.
In the seventh year of his tenure in Pakistan, Ambassador Martin said he feels at home in Pakistan. He said the medicines will not only fulfil the local needs but will also be exported to Sri Lanka, Columbia, Philippines and other countries. The ambassador thanked the Punjab government for all-out help to make this joint venture possible and expressed his willingness to continue with similar efforts in the future. Earlier, the CM and Argentine Ambassador visited the BF Sciences Laboratories and observed the infrastructure facilities available there.