Pharma industry needs urgent reforms

The Pakistan Pharmaceutical Manufacturers Association (PPMA) has stressed the necessity of updating existing drug laws to align with global trends for the benefit of patients and the pharmaceutical industry. “Local industries are shutting down due to historically high input costs, the highest inflation, and bank markup rates in Asia. Multinationals are vanishing due to excessive regulations. Currently, only four multinational companies are operating in the country, all of which have recently reported historically high losses,” PPMA Chairman Mian Khalid Misbah stated on Wednesday. While addressing the media, he highlighted that patients are the ultimate sufferers, and the situation is deteriorating. “There is an urgent need for government intervention to save the pharmaceutical industry for the greater good of the country and its ailing population.”