Peshwa
SENIOR MEMBER
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- Jun 26, 2009
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Industrial development is largely about capital investment, technical base, and energy. Generic pharmaceuticals are within our tech base and don't require huge energy resources. Pakistan's major issue is in the capital investment, our financial sector is not really up to the task. Our financial sector is largely risk averse, the wealthy prefer to invest over sees, and we have to keep interests rate high to control inflation. Financial reforms are needed to allow a little more risk in the system.
Semi true.
Also the fact that Pakistan is late to the game.
Two of the biggest markets, India and China have a strong hold on the pharma sectors within their borders. And the biggest market of all USA is highly regulated and the barriers to entry in terms of costs and research is tremendous.
Forget Brazil. ANVISA has one of the hardest approval processes and lethargic to say the least.
China has the largest share of the non regulated markets like Africa for genetics and India has the largest (non American) share of the US and European market.
I believe 30% of US generics are supplied by India.
So the opportunity to compete in market share for Pakistan are dim in terms of exports.
However I agree, the local market should be owned by local Pakistani drug makers. Not sure that will be true now that Pak and China have an FTA. Chinese drugs will be hard to compete with in price and API.