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Pakistan Pharmaceuticals and Healthcare Report Q2 2008
Business Monitor International, May 2008, Pages: 62
The Pakistan Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Pakistans pharmaceuticals and healthcare industry.
Although Pakistan’s pharmaceutical and healthcare sectors are expanding and evolving rapidly, about half the population has no access to modern medicines. Clearly this presents an opportunity, but much more work needs to be done by the government and industry stakeholders. The value of pharmaceuticals sold in
2007 exceeded US$1.4bn, which equates to per capita consumption of less than US$10 per year. By 2012, BMI is expecting medicine sales to exceed US$2.3bn. Demonstrating ongoing commitment to improving the health of its people, Pakistan will install its first disease monitoring system. The sophisticated software allows disparate incidences of disease outbreaks to be collated centrally, enabling the appropriate action to be taken. BMI welcomes the development, which should go some way to reducing the vast burden of disease in Pakistan.
Due to erosion of margins, pharmaceutical companies called on Pakistans government in Q208 to allow them to increase the price of medicines. The firms said that the price of drugs had remained stable for the last five years, while the cost of production has risen by one-fifth over the same period. At that time, it was BMIs view that the price controls would remain in place for the medium term, primarily because of the widespread problem of expired medicines being sold. This will put pressure on all players, but local firms are likely to suffer more than the multinationals.
Following a breakdown in relations during 2007, there were growing signs in early 2008 that Pakistan and China were patching up their once close ties. Two Chinese drug-makers are looking to establish joint ventures in the South Asian country, while Pakistan has invited China to participate in a gas pipeline originating in Iran.
During early 2008, rotating energy blackouts were limiting pharmaceutical production to domestic consumption and the ongoing political turmoil was putting off global buyers. Hydroelectricity represents one-third of Pakistans energy supply and droughts during Q108 severely impaired output. This forced the authorities to introduce load shedding, or periodic blackouts. The phenomenon is part of daily life in many African countries due to a combination of aging electricity generation infrastructure and the inadequacy of electricity supply to the ever-expanding demand. However, in Pakistan it is usually restricted to summer months, and then only frequently in rural areas.
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